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Garrett Motion Inc - GTX STOCK NEWS

Welcome to our dedicated news page for Garrett Motion (Ticker: GTX), a resource for investors and traders seeking the latest updates and insights on Garrett Motion.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Garrett Motion's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Garrett Motion's position in the market.

News
Garrett Motion Reports First Quarter 2024 Financial Results
Rhea-AI Summary
Garrett Motion Inc. reported first-quarter 2024 financial results with net sales of $915 million, down 6% YoY, net income of $66 million, adjusted EBITDA of $151 million, and reiterated full-year 2024 outlook with net sales of $3,870 million and adjusted EBITDA of $620 million. The company repurchased $109 million of common stock, highlighted increased customer interest in turbo and zero emission technologies, and continued investment in new technologies. The financials show a decline in net sales due to softness in gasoline, diesel, and commercial vehicles, lower pricing, and unfavorable product mix. Despite challenges, Garrett maintains a solid financial position with available liquidity of $766 million and debt outstanding of $1,683 million. The company expects flat to slightly lower light vehicle production in 2024 and increased commercial vehicle production. Garrett's outlook includes investments in R&D for zero emission technologies and capital expenditures for the same. Overall, the company's financial performance reflects a mix of challenges and opportunities in the automotive technology sector.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.3%
Tags
earnings
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News
Garrett Motion to Hold First Quarter 2024 Financial Results Conference Call on Thursday April 25, 2024
Rhea-AI Summary
Garrett Motion Inc. (GTX) will release its financial results for the first quarter of 2024 on April 25, 2024, followed by a conference call. Investors can dial in or access the webcast on the company's investor relations website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.81%
Tags
earnings
-
News
Garrett Motion Delivers Strong 2023, Issues 2024 Outlook, Authorizes New $350M Share Repurchase Program
Rhea-AI Summary
Garrett Motion Inc. (Nasdaq: GTX) reported strong financial results for Q4 2023 and FY 2023 with net sales up 5% and 8% respectively. Adjusted EBITDA increased to $145 million in Q4 2023. The company announced a flat outlook for FY 2024 with net sales of $3,870 million and net income of $253 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
12.92%
Tags
buyback
News
Paul A. Camuti Appointed to Board of Directors of Garrett Motion Inc.
Rhea-AI Summary
Garrett Motion Inc. appoints Paul A. Camuti to its Board of Directors while announcing the departure of John Petry. Camuti brings 30 years of experience in innovation and technology, focusing on the industrial sector. Petry, the founder of Sessa Capital, had been instrumental in simplifying the company's capital structure and achieving strong financial performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.98%
Tags
management
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News
Garrett Motion to Hold Fourth Quarter and Full Year 2023 Financial Results Conference Call on Thursday February 15, 2024
Rhea-AI Summary
Garrett Motion Inc. (Nasdaq: GTX) has announced its plans to release its financial results for the fourth quarter and full year 2023 on February 15, 2024. The company will also hold a conference call on the same day, providing an opportunity for investors and stakeholders to participate and access supporting materials through the webcast. The announcement indicates a commitment to transparency and engagement with the investment community.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.36%
Tags
earnings
-
News
Garrett Motion, Global Leader in Turbochargers, Launches Online Marketplace for Racing Enthusiasts
Rhea-AI Summary
Garrett Motion (NASDAQ:GTX) launches Garrett Marketplace, an advanced e-commerce platform for turbocharger enthusiasts, racing professionals, and automotive hobbyists. The platform offers a broad portfolio of genuine parts, including turbochargers, intercoolers, wastegates, accessories, and replacement parts, fulfilling the long-time demand for direct access to Garrett's engineering prowess. The platform is available in the United States and will be launched in Europe and Australia in 2024. Garrett Performance, a pioneer in the racing world, has been dedicated to engineering and manufacturing industry-leading turbochargers and accessories for decades, with its portfolio boasting a complete line of turbochargers, intercoolers, valves, and vehicle-specific performance products for almost any gas engine, with displacements and horsepower ranges between 1.4L to 12.0L and 140 - 3000hp, respectively.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.22%
Tags
none
News
Is the Automotive Industry's Transition to 100% Battery Electric Vehicles (EVs) the Most Effective Way to Decarbonize European Transport?
Rhea-AI Summary
Garrett Motion Inc. (NASDAQ:GTX) released a white paper titled 'Is the automotive industry's transition to 100 percent electric vehicles the most effective way to decarbonize European transport?'. The study compares CO2 emissions generated by battery electric vehicles and hybrid vehicles throughout their lifecycle, challenging the industry's focus on increasing vehicle range via larger and heavier batteries.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.8%
Tags
none
-
News
Garrett Motion White Paper Tackles Key Question Regarding Vehicle CO2 Emissions:
Rhea-AI Summary
Garrett Motion Inc. (Nasdaq: GTX) has published a white paper titled 'Is the automotive industry's transition to 100 percent electric vehicles the most effective way to decarbonize European transport?' The study compares the CO2 emissions generated by battery electric vehicles versus hybrid vehicles throughout their lifecycle, including the manufacture and use of these vehicles. Contrary to popular perceptions, results point at minimal to no advantages for BEVs over hybrids in terms of CO2 emissions. The study suggests aligning vehicle battery size with intended daily use and that, for typical daily vehicle use, hybrids with low-capacity batteries outperform BEVs in terms of minimizing emissions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.8%
Tags
none
-
News
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
Rhea-AI Summary
Garrett Motion Inc. announces Q3 2023 financial results, with net sales of $960 million, up 2% on a reported basis. Adjusted EBITDA totaled $152 million, and net cash provided by operating activities was $74 million. The company also repaid $200 million of debt and repurchased $161 million of Common Stock. However, the revised 2023 outlook range for currency headwinds has been narrowed.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.67%
Tags
earnings
News
Garrett Motion to Hold Third Quarter 2023 Financial Results Conference Call on Tuesday October 24, 2023
Rhea-AI Summary
Garrett Motion Inc. plans to issue financial results for Q3 2023 on October 24, 2023. Conference call and webcast to be held on the same day. Replay and webcast will be available on Garrett's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.13%
Tags
earnings
Stock GTX logo
Garrett Motion Inc

Nasdaq:GTX

GTX Rankings

#1800 Ranked by Market Cap
#1468 Ranked by Stock Gains
N/A Ranked by Dividends

GTX Stock Data

2.26B
149.88M
0.69%
90.66%
2.38%
Other Motor Vehicle Parts Manufacturing
Manufacturing
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Switzerland
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About GTX

garrett motion is an automotive technology leader, serving vehicle manufacturers worldwide for more than 65 years. garrett’s cutting-edge technology enables vehicles to become cleaner, more efficient and connected. the company’s broad offering of gas and diesel turbocharging applications, electric boosting and fuel cell technologies and automotive software solutions empowers the transportation industry to redefine and further advance motion.