Gentex Corporation (NASDAQ:GNTX) Q1 2024 Earnings Call Transcript

Steve Downing: Honestly, we’ve kind of moved away from volume estimates just because they are very cyclical. And then obviously with that as we’ve grown in the China market, even harder to predict than the rest of our markets, we tend to focus on the top line. And the reason why we do that is if you look at there’s a lot of puts and takes geographically and from a mixed standpoint, but then also between OEM customers. What we do understand though is that with the growth in content, we’re actually able to offset even some of those unit volume issues. So it’s a little harder to predict, but quite frankly, this quarter is a prime example where, Yes, there’s some headwinds on the unit volume that we didn’t love, but we are able to offset it because we’re getting more than a payoff on the FDM and the dollar content side.

And so we’re working really hard to change kind of what we’re focused on. Number one is less dependent on total units in order to get to revenue growth. And then number two, a little less susceptible to mixed changes, geographical issues, geopolitical issues, and also certain OEMs that may be struggling from time to time.

John Murphy: Yes, it just seems like you may be on the cusp of both unit and mix both being positive students. So that’s kind of why I was asking.

Operator: Thank you very much, guys. I hope so. Thanks, John. And I’m not showing any further questions at this time, while I turn the call back over to Josh.

Josh O’Berski: This concludes our conference call. Thank you, everyone, for your time today. We appreciate your participation and hope you have a great weekend.

Operator: Ladies and gentlemen, so to conclude today’s presentation, you may now disconnect and have a wonderful day.