Shares of Gentherm rose after the global thermal technology company raised its fiscal 2026 product revenue and earnings beat estimates.

The stock was up 12% to $40.43 in recent trading, and rose 11% since the start of the year.

Gentherm posted net income of $4.4 million, or 14 cents a share, compared with $477,000, or two cents a share, a year earlier.

Adjusted earnings per share were 75 cents. Analysts polled by FactSet expected 56 cents.

Revenue rose 11% to $416.2 million. Analysts polled by FactSet expected $382.9 million.

Chief Executive Bill Presley said growth initiatives in both home and office, and medical markets continue to accelerate, and performance indicators put in place to drive more rigor and standardization are yielding positive results.

Gentherm raised its fiscal 2026 product revenue guidance to between $1.55 billion and $1.65 billion from its previous outlook of $1.5 billion to $1.6 billion.

The company also said its board of directors authorized a new stock repurchase program of up to $400 million. The program will replace its existing program on July 27 and remain in effect for a three-year period.

As of June 30, the prior program had about $110 million of stock repurchase authorization remaining.

Write to Grace Yoon at grace.yoon@wsj.com

(END) Dow Jones Newswires

July 23, 2026 10:43 ET (14:43 GMT)

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