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Garrett Motion Inc. (GTX) delivers cutting-edge automotive propulsion solutions through its turbocharging and electric boosting technologies. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, technological breakthroughs, and strategic partnerships shaping the future of vehicle efficiency.
Access authoritative information on GTX's latest earnings reports, product launches, and sustainability initiatives. Our curated collection features official press releases covering key areas including OEM collaborations, electrification advancements, and global manufacturing updates. Stay informed about innovations in fuel cell technology and aftermarket solutions that maintain Garrett Motion's industry leadership.
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Garrett Motion Inc. (Nasdaq: GTX) reported Q2 2024 financial results and updated its full-year 2024 outlook. Key highlights include:
- Net sales of $890 million, down 12% year-over-year
- Net income of $64 million with a 7.2% margin
- Adjusted EBITDA of $150 million with a 16.9% margin
- Net cash from operating activities of $126 million
- Adjusted free cash flow of $62 million
- Repurchased $65 million of Common Stock
The company updated its full-year 2024 outlook, projecting net sales of $3,570 million, net income of $275 million, and Adjusted EBITDA of $608 million. Despite a volatile volume environment, Garrett expanded its adjusted EBITDA margin and made progress on capital allocation priorities, including repurchasing $174 million of common stock in H1 2024.
Garrett Motion (Nasdaq: GTX), a leader in automotive technology, announced plans to release its Q2 2024 financial results on July 25, 2024, before market opening. The company will also host a conference call at 8:30 am EDT / 2:30 pm CET on the same day. Interested parties can join the call via provided phone numbers or through the webcast available on Garrett's investor relations website. A replay will be accessible post-event. Garrett Motion specializes in turbocharging and transformative vehicle technologies, aiming to reduce emissions and promote zero-emission vehicles. The company operates five R&D centers and 13 manufacturing sites globally.
Garrett Motion Inc. announced the pricing of an offering of $800 million of senior unsecured notes due 2032. The notes will be guaranteed by the Company's subsidiaries and will be used to repay existing debt and related expenses. The Offering size was increased from $500 million to $800 million. The notes are being sold to qualified institutional buyers and certain non-U.S. persons.
Garrett Motion Inc. announced a proposed private offering of $500 million of senior notes due 2032 through its subsidiaries. The offering aims to repay term loan indebtedness and related fees and expenses. The notes are guaranteed by the Company and its subsidiaries and are offered to qualified institutional buyers and non-U.S. persons.
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