ZEELAND, Mich. (WOOD) — Gentex Corp. reported lower first-quarter earnings Friday as tariff uncertainty and weak vehicle production trim levels weighed on sales.
The auto parts supplier posted net income of $94.9 million, down from $108.2 million a year earlier. Revenue fell 2% to $576.8 million as North American and European auto production declined 3% quarter over quarter.
Earnings per share dropped 11% to 42 cents. Operating income slipped to $113 million from $129.3 million.
Gross margin narrowed year-over-year due to weaker sales and new tariff costs but improved sequentially compared to the fourth quarter, aided by cost reductions.
CEO Steve Downing said in a release that tariffs added about $650,000 in expenses during the quarter and warned that pending tariffs could create further margin pressure. Gentex halted mirror production for the China market as it awaits clarity on customer willingness to absorb higher prices.
The company revised its 2025 revenue guidance downward to between $2.10 billion and $2.20 billion for its primary markets, excluding $50 million to $120 million expected from China. Gentex also withdrew its 2026 revenue forecast, citing significant uncertainty.
Gentex completed its merger with VOXX International on April 1, which is expected to add up to $375 million annually, though tariff-related price increases could dampen demand.
Shares repurchased during the quarter totaled $3.1 million.
Gentex manufactures digital vision, connected car technology, dimmable glass, fire protection products and medical devices.
