Gentex Q2 Results Miss Estimates; Cuts FY24 Revenue Outlook

RTTNews | hace 411
Gentex Q2 Results Miss Estimates; Cuts FY24 Revenue Outlook

(RTTNews) - Automotive products firm Gentex Corp. (GNTX) reported on Friday that net income for the second quarter declined to $86.04 million or $0.37 per share from 109.16 million or $0.47 per share in the prior-year quarter.

Net sales for the quarter declined to $572.93 million from $583.47 million in the same quarter last year.

On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.52 per share on revenues of $620.04 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects revenues between $2.40 billion and $2.50 billion, down from the prior forecast between $2.45 billion and $2.55 billion. The Street expects revenues of $2.49 billion for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Major European Markets In Positive Territory In Cautious Trade

Major European Markets In Positive Territory In Cautious Trade

The major European markets are up in positive territory on Wednesday with investors picking up stocks amid continued optimism about a sharp rate cut by the Federal Reserve following recent weak labor market data. Easing concerns on the trade front also contribute to the positive sentiment in the markets.
RTTNews | hace 19 minutos
Sensex, Nifty Close On Firm Note Again

Sensex, Nifty Close On Firm Note Again

Indian stocks closed on a positive note on Wednesday, extending previous session's gains, amid expectations of further reduction in GST rates, and hopes of a larger than expected interest rate cut by the Federal Reserve.
RTTNews | hace 1h 9min
FTSE 100 Remains Steady ; ABF Tanks On Sales Warning

FTSE 100 Remains Steady ; ABF Tanks On Sales Warning

The U.K. market is modestly higher in late morning trades on Wednesday, with select frontline stocks finding good support. Movements are a bit lackluster with investors awaiting U.S. inflation data due later in the week.
RTTNews | hace 1h 35min
CAC 40 Modestly Higher On Fed Rate Cut Hopes, Easing Political Concerns

CAC 40 Modestly Higher On Fed Rate Cut Hopes, Easing Political Concerns

After opening modestly higher and moving up further, France's CAC 40 gave up some gains subsequently Wednesday morning, but remains in positive territory. The undertone is fairly steady following the appointment of Sébastien Lecornu as France's new Prime Minister.
RTTNews | hace 1h 59min
Asian Markets Close Higher

Asian Markets Close Higher

Asian markets finished trading on a positive note, tracking the Wall Street rally on Tuesday.
RTTNews | hace 2h 6min
DAX Slips After Positive Start

DAX Slips After Positive Start

After opening on a positive note amid continued optimism about an interest rate cut by the Federal Reserve, the German market pared its gains and slipped into negative territory on Wednesday, with the mood turning cautious as investors await the crucial U.S. inflation data due later in the week, and the European Central Bank's monetary policy announcement on Thursday.
RTTNews | hace 2h 28min
Antipodean Currencies Rise Amid Risk-on Mood

Antipodean Currencies Rise Amid Risk-on Mood

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against other major currencies in the Asian session on Wednesday, amid growing optimism about the outlook for interest rates after sharp downward revisions in U.S. jobs data and ahead of the release of the closely watched US inflation data later in the week. Currencies in the region also strengthened against the US dollar.
RTTNews | hace 3h 24min