Financial
Gentex Reports 3rd Quarter 2021 Financial Results
Supply chain constraints and electronic component shortages impacted third-quarter results, the company says.
Supply chain constraints and electronic component shortages impacted third-quarter results, the company says.
With this offering, the weighted-average fixed coupon of Driven Brands’ outstanding asset-backed notes improved to 3.71%.
Net sales increased 5.9% to $2.6 billion.
The German oil and additive specialist increased its turnover to 355 million euros (about $417 million USD).
The company says strong organic growth and execution against strategic initiatives drove performance in Q2.
The company says record first-quarter sales to start new fiscal year as solid demand for aftermarket parts continues.
Net sales increased $69 million, or 58.3% to $187.4 million.
Consolidated sales of $416.4 million, were up up 37.6% year over year, reflecting a recovery from trough levels of business...
Reported net income of $97 million grew 64% and earnings per diluted share (EPS) of $0.53 grew 66%.
The company said semiconductor-related customer shutdowns and commodity inflation weighed on sales and profit.
