Gentherm Inc (THRM) Form 10-Q — Oct 22, 2026
Gentherm's Q3 2026 revenue rose 4.7% to $405.1 million, but the company swung to a net loss of $2.6 million (EPS -$0.08 vs. $0.49 a year ago), driven by an effective tax rate of 123.9% inflated by Modine Transaction deal costs of $6.5 million in the quarter. The headline event in the filing is the October 1, 2026 completion of the ~$800 million Reverse Morris Trust combination with Modine's Performance Technologies business, under which Gentherm issued 23.7 million shares leaving former Modine holders with 43.62% of the company. The deal added a $250 million secured term loan due June 2031, and Gentherm paid a $2.07 per share special dividend on October 7.
Key figures
- Revenue
- 405102000
- Total Debt
- 320443000
- Debt Amount
- 250000000
- Revenue Yoy
- 4.7% (Q3); 8.9% nine months
- Total Assets
- 1562299000
- Cash Position
- 252098000
- Deal Value Usd
- 800000000
- Interest Rate
- SOFR + 1.125%-2.000% (DDTL Facility); Revolver at 5.13%
- Maturity Date
- 2031-06-29
- Shares Outstanding
- 52504512
- Buyback avg price
- 30.82
- Buyback authorized
- 400000000
- Nine month revenue
- 1214974000
- Nine month net income
- 6048000
- Nine month eps diluted
- 0.19
- Operating cash flow 9m
- 36007000
- Q3 new business awards
- 555000000
- Special dividend total
- 63500000
- Modine holders ownership
- 43.62%
- Spinco cash distribution
- 155991000
- Q3 2026 effective tax rate
- 123.9%
- Special dividend per share
- 2.07
- Modine transaction costs 9m
- 33400000
- Ime acquisition consideration
- 34652000
- Buyback repurchased subsequent
- 60000000
- Shares issued to modine holders
- 23735961
AI analysis
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