Gentherm Swings to Q3 Loss on Modine Deal Costs; Repurchases $60M Post-Quarter
THRM is trading near its 52-week low of $25.31 (3.3% above the low) on elevated volume (3.3× avg).
Summary
Gentherm posted a Q3 net loss of $2.6M (-$0.08 per share) as $6.3M of Modine merger costs and a 123.9% tax rate offset 4.7% revenue growth to $405.1M, and disclosed a $60.0M post-quarter buyback at an average $30.82 per share.
Key Events · Earnings and Guidance · THRM
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Q3 Swings to Net Loss
Revenue rose 4.7% to $405.1M, but net income flipped to a $2.6M loss (-$0.08 per share) from $14.9M ($0.49) a year earlier.
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Merger Costs and Tax Rate Hit
$6.3M of Modine transaction costs in Q3 ($33.4M for nine months) plus a 123.9% effective tax rate on $10.8M pre-tax earnings drove the loss; gross margin fell to 23.3% from 24.6%.
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$60M Buyback After Quarter-End
Repurchased $60.0M under the 2026 program at an average $30.82 per share, leaving $340.0M of authorization; no shares were bought during Q3.
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Modine Results Start in Q4
The merger closed October 1, 2026 with 23.7M shares issued; purchase accounting is incomplete and the acquired business will be consolidated beginning in Q4 2026.
Analysis · THRM · Manufacturing
The first quarterly report since Gentherm closed the Modine Performance Technologies merger lays out the near-term cost of the deal. Revenue rose 4.7% to $405.1M, but $6.3M of transaction costs and a 123.9% effective tax rate pushed the quarter to a $2.6M net loss (-$0.08 per share), down from $14.9M of income a year ago. Gross margin slipped to 23.3% from 24.6% on higher freight and labor costs. Against that, management put real money behind the shares, buying back $60.0M at an average $30.82 after quarter-end — above today's $26.15 — with $340.0M of authorization left. The Modine business itself is not yet in these numbers; its results start in Q4, so the next print is the first real look at the combined company.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.3% of the 1526 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.41%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, THRM was trading at $26.15 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $25.31 to $48.35. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.