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# Gentex Holds 2027 Revenue Target At $2.8 Billion To $2.9 Billion After Third-Quarter Miss
- URL: https://www.bullished.co/gentex-holds-2027-revenue-target-at-2-8-billion-to-2-9-billion-after-third-quarter-miss-8936aff2/
- Published: 2026-10-23T14:42:11.000Z
- Updated: 2026-10-23T14:42:11.000Z
- Description: CEO Steve Downing calls a Hyundai-Kia strike and a late Ford launch "one time" as the company lowers its 2026 revenue guidance.
- Author: Matteo Parrino
- Tags: Earnings, GNTX, Industry: Consumer Discretionary

[Gentex](https://www.bullished.co/tag/gntx/), which makes automatic-dimming rearview mirrors for carmakers, kept its 2027 revenue outlook at [$2.8 billion to $2.9 billion](https://finance.yahoo.com/markets/stocks/articles/gentex-q3-earnings-snapshot-121133382.html?ref=bullished.co) on its earnings call Friday, even as it [cut 2026 revenue guidance](https://www.benzinga.com/news/26/10/62555463/gentex-narrows-fy2026-sales-guidance-2-650b-2-750b-2-650b-vs-2-671b-est?ref=bullished.co) to about $2.65 billion. CEO Steve Downing told an analyst from JPMorgan that the third-quarter shortfall came from launch problems that "we view those as one time in nature."

## Two launches blamed for the miss

Third-quarter net sales were [$647.7 million](https://finance.yahoo.com/markets/stocks/articles/gentex-q3-earnings-snapshot-121133382.html?ref=bullished.co), against $655.2 million a year earlier. Downing said revenue landed about $35 million below the company's own forecast for the start of the quarter because of customer issues and delayed launches.

An analyst from JPMorgan noted that revenue had come in weaker than expected two quarters running and asked why the 2027 outlook should be trusted. Downing agreed the quarter was lighter than anticipated and pointed to two launches.

The first was in South Korea, where a Hyundai-Kia union strike took "a good 60, 70,000 units" out of production for Gentex during the quarter. Those were programs where Gentex was launching its highest-content products, and volumes recovered more slowly than expected once the strike ended. The second was the Ford F-250/350 launch, which Downing said ran later than planned with lower launch volumes.

## What holds up 2027

Management says the 2027 range implies 6% to 9% growth over the lowered 2026 guidance, while light vehicle production in its primary markets is forecast to fall about 1%. Downing cited more full display mirror growth, more driver- and in-cabin-monitoring awards, and a deal in which a team at the company would take over distribution of Alpine products as a tailwind not in the original 2027 guidance.

Gentex also said it won its first award for circuit board assembly, from an existing automotive customer. Downing said it is annualized at roughly $180 million, with production expected to begin in 2029.

The company's wider 2026 guidance now calls for gross margin of 34% to 34.5%, including an estimated $10 million to $15 million of added fourth-quarter costs it does not expect to recover until the first half of 2027\. Third-quarter gross margin was 33.4%, against 34.4% a year earlier, on precious-metals costs, product mix and lower operating leverage. Diluted earnings per share were 43 cents, against 46 cents; adjusted EPS was 47 cents in both periods.

Downing said some electronic components now cost 8 to 10 times what they did earlier this year, and he floated 33% to 34% as a "way too early" range for 2027 gross margin.

## Buybacks and visors

Gentex repurchased 5.7 million shares for $132.6 million in the quarter, at an average $23.44\. Downing said the company will likely lean on buybacks again, because "we struggle to understand the stock price." Shares traded at $20.25 in Friday morning trading, against a prior close of $21.74.

COO Neil Boehm said three more customers are evaluating the dimmable visor, and Gentex hopes to land additional awards later this year and into early 2027\. Its first visor program is on track to start production in the fourth quarter of 2027.

The company will show its technology at the SEMA show from November 3 through 6 and at the Consumer Electronics Show from January 6 through 9, both in Las Vegas.

### Sources

- [Gentex Narrows FY2026 Sales Guidance from $2....](https://www.benzinga.com/news/26/10/62555463/gentex-narrows-fy2026-sales-guidance-2-650b-2-750b-2-650b-vs-2-671b-est?ref=bullished.co) — benzinga.com
- [Gentex: Q3 Earnings Snapshot](https://finance.yahoo.com/markets/stocks/articles/gentex-q3-earnings-snapshot-121133382.html?ref=bullished.co) — Associated Press
- [Will Gentex (GNTX) Beat Estimates Again in Its Next Earnings Report?](https://finance.yahoo.com/markets/stocks/articles/gentex-gntx-beat-estimates-again-151004600.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [Gentex (GNTX) Lags Q3 Earnings and Revenue Estimates](https://finance.yahoo.com/markets/stocks/articles/gentex-gntx-lags-q3-earnings-121501538.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
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### More on Gentex

- [Gentex Cuts Margin Outlook, Caps Revenue Near $2.65 Billion After $35 Million Sales Shortfall](https://www.bullished.co/gentex-cuts-margin-outlook-caps-revenue-near-2-65-billion-after-35-million-sales-shortfall-2e4951cf/)
- [Dimensional Fund Advisors Reports 5% Passive Stake In Gentex, 10,550,621 Shares](https://www.bullished.co/dimensional-fund-advisors-reports-5-passive-stake-in-gentex-10-550-621-shares-6310deef/)

[All Gentex (GNTX) coverage →](https://www.bullished.co/tag/gntx/)