Automotive supplier Gentex Corp. (GNTX), while reporting higher second-quarter results above market estimates, on Friday lifted its guidance for fiscal 2025 revenues.
In the pre-market activity on the Nasdaq, Gentex shares were gaining around 8.7 percent to trade at $25.65.
For fiscal 2025, the company now expects consolidated revenue between $2.44 billion and $2.61 billion, higher than previously expected $2.15 billion to $2.32 billion.
The Wall Street analysts on average expect the company to record revenues of $2.46 billion. Analysts' estimates typically exclude special items.
Gross Margin is expected to be 33 percent to 34 percent for the year.
In the second quarter, Gentex's net profit came in at $96.04 million or $0.43 per share, higher than $86.04 million or $0.37 per share last year.
Adjusted earnings were $105.77 million or $0.47 per share for the period. Analysts had expected the company to earn $0.39 per share.
The company's revenue for the period rose 14.8 percent to $657.86 million from $572.93 million last year. The Street was looking for revenues of $621.18 million for the quarter.
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