Gentherm Incorporated reported its financial results for the third quarter of 2026, highlighting revenue growth and the completion of a major business combination. The company announced product revenues of $405.1 million for the quarter, which represents a 4.7% increase compared to the prior year. Excluding the impact of foreign currency translation, product revenues grew by 4.4%.
On the earnings front, Gentherm reported a net loss of $(2.6) million, a shift from a net income of $14.9 million in the prior year. GAAP diluted earnings per share were $(0.08), while adjusted diluted earnings per share were $0.33. Adjusted EBITDA for the quarter was $45.0 million, or 11.1% of revenue.
A significant development announced on October 1, 2026, was the completion of the combination with Modine’s Performance Technologies business. Following this transaction, the company updated its full year 2026 guidance. The new guidance anticipates product revenues between $1.825 billion and $1.925 billion, adjusted EBITDA between $210 million and $230 million, and adjusted free cash flow between $100 million and $120 million.
Gentherm also updated its capital allocation strategy. In October, the company repurchased $60 million of its common stock. Additionally, the company returned $63.5 million to shareholders through a special cash dividend of $2.07 per share on October 7. As of the end of the third quarter, the company reported net leverage of approximately 0.4x and liquidity of $494.2 million.
