Garrett Motion

Garrett Motion, Inc. provides automobile technology. The firm engages in the design, manufacture, and sale of engineered turbocharger, electric-boosting technologies for light and commercial vehicle original equipment manufacturers (OEMs) and the global vehicle independent aftermarket as well as automotive software solutions. It offers light vehicle gasoline, light vehicle diesel, and commercial vehicle turbochargers that enhance vehicle performance, fuel economy and drivability. The company was founded on March 14, 2018 and is headquartered in Rolle, Switzerland.

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Garrett Motion excels in Q4 2022, eyes growth through electrification

Garrett Motion's strong financial performance in Q4 2022 and full-year results reflect resilience and strategic management amidst market challenges.
The company's focus on differentiated technologies, electrification solutions, and cost management positions it well for sustained growth and profitability.
With a positive outlook for 2023, Garrett aims to leverage opportunities in the evolving automotive landscape while addressing potential challenges effectively.

Garrett Motion excels in Q1, targets $1B revenue from EV tech

Garrett Motion delivered a robust performance in Q1 2023, marked by revenue growth, improved EBITDA, and enhanced financial metrics, underlining their operational strength and strategic focus.
The company's emphasis on electric vehicle technologies, capital structure normalization, and positive outlook for continued growth signal a promising trajectory for future success and shareholder value.
While challenges exist in navigating market dynamics and technology transitions, Garrett Motion's proactive approach and confidence in execution position them to seize opportunities and drive sustainable growth.

Garrett Motion excels in Q2, targets $1B in zero-emission sales

Garrett Motion's Q2 2023 earnings call highlighted impressive financial performance, successful capital restructuring, and strategic wins in key markets, underscoring its growth trajectory and market resilience.
The company's focus on zero-emission technologies, strong regional sales distribution, and partnerships with industry leaders position it well for future growth and innovation, despite potential challenges in meeting ambitious targets.
With a clear commitment to sustainability, innovation, and market expansion, Garrett Motion is poised to navigate industry shifts, capitalize on emerging opportunities, and drive long-term value for stakeholders.

Garrett Motion excels in Q3 amidst currency challenges and innovation

Garrett Motion delivered robust financials in Q3 2023, driven by product innovation and strategic focus.
While facing challenges from currency fluctuations and market dynamics, the company eyes growth opportunities.
With a target EBITDA margin set for 2024 and a focus on zero-emission technologies, Garrett Motion navigates towards future success.

Garrett Motion reports record 2023 earnings, eyes zero emission growth

Garrett Motion's robust financial performance in 2023 and strategic initiatives to invest in zero emission technologies underscore its commitment to sustainable growth and shareholder value.
While facing challenges in a potentially stagnant market in 2024, Garrett's strong liquidity position, competitive turbo business, and focus on innovation provide a solid foundation for navigating uncertainties.
By seizing opportunities in the zero emission technology sector and leveraging its market strengths, Garrett is well-positioned to drive future growth and achieve its ambitious sales targets by 2030.

Garrett Motion reports robust Q1 earnings, eyes growth opportunities

Garrett Motion's Q1 2024 performance showcased strong financial metrics, strategic financial decisions, and a focus on turbo offerings and operational efficiency. While facing challenges in net sales due to industry softness, the company maintains a solid liquidity position and growth opportunities in key segments.

Garrett Motion reports strong Q2 performance and focuses on technology advancements

Garrett Motion's Q2 2024 earnings call showcased solid financial performance, strategic advancements in technology, and a focus on shareholder value. Despite facing challenges from industry softness and commodity deflation, the company remains optimistic about its outlook and opportunities for growth.

Garrett Motion reports robust Q3 performance and eyes innovation opportunities

Garrett Motion's Q3 performance showcased operational strength and financial resilience.
The company's strategic focus on innovation and shareholder value creation bodes well for future growth.
While facing challenges in market conditions and industry pressures, Garrett Motion remains poised for opportunities in new technologies.

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Garrett Motion, Inc. provides automobile technology. The firm engages in the design, manufacture, and sale of engineered turbocharger, electric motor technologies for original equipment manufacturers and distributors within the mobility and industrial space. It offers light vehicle gasoline, light vehicle diesel, and commercial vehicle turbochargers. The company was founded on March 14, 2018 and is headquartered in Rolle, Switzerland.

Garrett Motion (GTX) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.21 per share a year ago.

Garrett Motion (GTX) Q3 Earnings Top Estimates

Garrett Motion Inc. (GTX) Q3 2023 Earnings Call Transcript

Third Quarter 2023 Highlights Net sales totaled $960 million, up 2% on a reported basis, down 1% at constant currency* Net income totaled $57 million; Net income margin 5.9% Adjusted EBITDA* totaled $152 million; Adjusted EBITDA margin* of 15.8% Net cash provided by operating activities totaled $74 million Adjusted free cash flow* totaled $57 million Early debt repayment of $200 million Repurchased $161 million of Common Stock Upgraded by S&P to BB- rating, with stable outlook Revised and narrowed 2023 outlook range for currency headwinds ROLLE, Switzerland, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced its financial results for the three and nine months ended September 30, 2023. $ millions (unless otherwise noted)   Q3 2023   Q3 2022   2023 YTD   2022 YTD Net sales   960     945     2,941     2,705   Cost of goods sold   784     767     2,374     2,183   Gross profit   176     178     567     522   Gross profit %   18.3 %   18.8 %   19.3 %   19.3 % Selling, general and administrative expenses   59     57     178     164   Income before taxes   70     131     279     361   Net income   57     105     209     278   Net income margin   5.9 %   11.1 %   7.1 %   10.3 % Adjusted EBITDA*   152     146     490     430   Adjusted EBITDA margin*   15.8 %   15.4 %   16.7 %   15.9 % Net cash provided by operating activities   74     61     330     238   Adjusted free cash flow*   57     120     285     181   * See reconciliations to the nearest GAAP measure in pages 5-12 “Garrett delivered solid Q3 financial results through productivity gains and operational excellence which successfully offset headwinds from currency and product mix.

Garrett Motion Reports Third Quarter 2023 Financial Results, Awarded Two Additional E-Cooling Pre-Developments, Debuts the GT80, Garrett's Largest Turbo for Industrial Customers

Garrett Motion (GTX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Garrett Motion (GTX) Reports Next Week: Wall Street Expects Earnings Growth

Garrett Motion is a leading automotive technology company specializing in turbocharging and electric boosting solutions. Although they play an important role in internal combustion vehicles, they are actively involved in developing solutions for electrified powertrains and vehicle electrification. Despite the industry's sensitivity to economic cycles, the company is currently trading at a very low multiple of 5x EBITDA, presenting a compelling deep-value opportunity.

Garrett Motion: Electric Vehicles Are Just The Next Chapter

ROLLE, Switzerland, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the third quarter 2023 on Tuesday, October 24, 2023 before the open of market trading.

Garrett Motion to Hold Third Quarter 2023 Financial Results Conference Call on Tuesday October 24, 2023

Garrett Motion has successfully completed its Chapter 11 restructuring, improving its financial leverage, discipline, and efficiency. The company's strong Q2 '23 performance and competitive positioning indicate potential for growth and long-term success. With its technological leadership, global footprint, and investment in research and innovation, GTX is well-positioned for long-term growth in the automotive industry.

Garrett Motion: Chapter 11 Restructuring, A Total Reset

Garrett Motion Inc. ( GTX , Financial), a leading automotive technology company, is experiencing growing demand for its differentiated electric technology. This technology may help companies like Ford ( F , Financial), General Motors ( GM , Financial) and Honda ( HMC , Financial) close the drivetrain technology gap with Tesla ( TSLA , Financial).

Garrett Motion Is Betting on Its Electric Technology

Garrett Motion Inc. (NASDAQ:GTX ) Q2 2023 Earnings Conference Call July 27, 2023 8:30 AM ET Company Participants Eric Birge - Head of IR Olivier Rabiller - President and CEO Sean Deason - SVP and CFO Conference Call Participants Hamed Khorsand - BWS Financial Operator Good day. My name is Sarah and I'll be your operator this morning.

Garrett Motion Inc. (GTX) Q2 2023 Earnings Call Transcript

Garrett Motion (GTX) came out with a quarterly loss of $1.88 per share versus the Zacks Consensus Estimate of $0.23. This compares to earnings of $0.15 per share a year ago.

Garrett Motion (GTX) Reports Q2 Loss, Tops Revenue Estimates

Second Quarter 2023 Highlights Net sales totaled $1,011 million, up 18% on a reported basis, up 19% at constant currency* Net income totaled $71 million; Net income margin 7.0% Adjusted EBITDA* totaled $170 million; Adjusted EBITDA margin* of 16.8% Net cash provided by operating activities totaled $164 million Adjusted free cash flow* totaled $140 million Expected Q3 early debt repayment for $200 million Raising outlook for 2023 ROLLE, Switzerland, July 27, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced its financial results for the quarter and six months ended June 30, 2023. $ millions (unless otherwise noted)   Q2 2023   Q2 2022   H1 2023   H1 2022 Net sales   1,011   859   1,981   1,760 Cost of goods sold   809   690   1,590   1,416 Gross profit   202   169   391   344 Gross profit %   20.0%   19.7%   19.7%   19.5% Selling, general and administrative expenses   63   54   119   107 Income before taxes   101   105   209   230 Net income   71   85   152   173 Net income margin   7.0%   9.9%   7.7%   9.8% Adjusted EBITDA*   170   138   338   284 Adjusted EBITDA margin*   16.8%   16.1%   17.1%   16.1% Net cash provided by operating activities   164   104   256   177 Adjusted free cash flow*   140   23   228   61 * See reconciliations to the nearest GAAP measure in pages 5-12 “Garrett's operational excellence has been the driving force behind our ability to successfully capitalize on the ramp-up of new products and strong customer demand across all major product lines.

Garrett Motion Reports Strong Second Quarter 2023 Financial Results, Raises Full Year Outlook, and Planning Partial Debt Repayment

Garrett Motion's share buyback plan is growing, with the buyback valued at $570 million, potentially leading to more capital diverted to investors through future buybacks. The company, which designs and manufactures turbochargers and electric boosting technologies, has seen consistent growth and has achieved a 3-year net income growth of 9.46%. Despite risks from currency fluctuations and the cyclical nature of the automotive industry, the company's diversified revenue streams and strong position in the market make it a good investment opportunity.

Garrett Motion: Solid Performance So Far Paints A Bright Future For An Investment

Garrett Motion stock might look massively undervalued, but my analysis suggests the discount is fair. The turbocharger industry is expected to grow slowly, and Garrett is in a substantial net debt position. The company faces risks such as vulnerability to cycles in the automotive industry, fierce competition, and the emergence of electric vehicles.

Garrett Motion: The Massive Discount Is Fair, Given The Risks

ROLLE, Switzerland, July 10, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, today announced it plans to issue financial results for the second quarter 2023 on Thursday, July 27, 2023 before the open of market trading.

Garrett Motion to Hold Second Quarter 2023 Financial Results Conference Call on Thursday July 27, 2023

German automaker pilots advanced technology in hydrogen fuel cell series ROLLE, Switzerland , June 14, 2023 /PRNewswire/ -- Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, is supporting BMW Group's commitment to developing zero-emission hydrogen fuel cell vehicles with an advanced electric fuel cell compressor (FCC) developed by Garrett's R&D team. BMW Group recently announced that it will pilot the second generation of its hydrogen fuel cell drive train in a small series of the BMW iX5 Hydrogen, boosted by Garrett's new generation, modular fuel cell compressor for hydrogen fuel cell electric vehicles.

Garrett's Next-Generation Electric Compressor Technology Debuts in Hydrogen Fuel Cell Vehicle

ROLLE, Switzerland, June 13, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, announced today the conversion of the Company's Series A Preferred Stock into a single class of Common Stock, simplifying the Company's capital structure and setting the stage for greater market capitalization, enhanced liquidity, a path to index inclusion, and a more diversified shareholder base.

Garrett Motion Converts Series A Preferred Stock Into Common Stock

Investors need to pay close attention to Garrett (GTX) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Garrett (GTX) Stock?

Garrett Motion (GTX) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Despite Fast-paced Momentum, Garrett Motion (GTX) Is Still a Bargain Stock

The company capital structure will be simplified by July with the conversion of series A preferred. Garrett will be buying back $570 million of preferred shares before conversion and approved a buyback plan of common shares of $250 million.

Garrett Motion Is A Low Risk Stock With High Potential

Garrett Motion Inc. (GTX) Q1 2023 Earnings Call Transcript.

Garrett Motion Inc. (GTX) Q1 2023 Earnings Call Transcript

If you use the analysts for a guide, the post-release dip in Garrett Motion Inc. (NYSE: GTX) shares offers a buying opportunity. The consensus is a "buy" with a price target roughly 85% above the pre-release price action, but there is a caveat.

Garrett Motion Inc. Skids on Results: Is it Time to Buy the Dip?

Garrett Motion (GTX) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.15 per share a year ago.

Garrett Motion (GTX) Lags Q1 Earnings Estimates

First Quarter 2023 Highlights Net sales totaled $970 million, up 8% on a reported basis, up 13% at constant currency* Net income totaled $81 million; Net income margin 8.4% Adjusted EBITDA* totaled $168 million; Adjusted EBITDA margin* of 17.3% Net cash provided by operating activities totaled $92 million Adjusted free cash flow* totaled $88 million Reaffirmed outlook for 2023 ROLLE, Switzerland, April 24, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX, GTXAP), a differentiated technology leader for the automotive industry, today announced its financial results for the quarter ended March 31, 2023. $ millions (unless otherwise noted)   Q1 2023   Q1 2022 Net sales   970   901 Cost of goods sold   781   726 Gross profit   189   175 Gross profit %   19.5%   19.4% Selling, general and administrative expenses   56   53 Income before taxes   108   125 Net income   81   88 Net income margin   8.4%   9.8% Adjusted EBITDA*   168   146 Adjusted EBITDA margin*   17.3%   16.2% Net cash provided by operating activities   92   73 Adjusted free cash flow*   88   38 * See reconciliations to the nearest GAAP measure in pages 5-12 "Garrett had an excellent start to the year with revenue growth that significantly outpaced the global light vehicle industry, driven by new product launches and program ramp-ups.

Garrett Motion Reports First Quarter 2023 Financial Results

SHANGHAI--(BUSINESS WIRE)--Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, presents at Auto Shanghai 2023 (April 18-27) a portfolio of advanced technologies geared toward turbocharging, electrification and software connectivity. “We look forward to showcasing Garrett Motion's engineering breakthroughs for the fast-evolving and largest automotive market in the world.

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