Gentex Corporation reported net sales of $576.8 million for the first quarter of 2025, a 2% decrease compared to $590.2 million in the first quarter of 2024. This decline was primarily driven by a 3% decrease in light vehicle production in the company's primary markets and an unfavorable trim-mix, resulting in a sales shortfall of $25 million to $30 million.
The gross margin for Q1 2025 was 33.2%, down from 34.3% in Q1 2024, impacted by lower revenue, unfavorable product mix, and new tariff costs of approximately $650,000. Diluted earnings per share decreased to $0.42 from $0.47 in the prior year, with net income at $94.9 million.
Due to escalating tariffs in the China market, Gentex has proactively halted production for Chinese customers, leading to an expected China revenue of $50 million to $120 million, a sharp decrease from prior expectations. The company revised its 2025 revenue guidance from primary markets to $2.1 billion to $2.2 billion and withdrew its revenue guidance for calendar year 2026, citing significant uncertainty related to tariffs and the VOXX merger integration.
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