Garrett Motion Stock Price, News & Analysis

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) announced a quarterly cash dividend of $0.17 per share for its Series A 11% PIK Preferred Stock, instead of allowing the dividend to accrete. The dividend will be paid on April 3, 2023, to shareholders on record as of the close of business on March 22, 2023. This decision reflects the company's commitment to providing immediate shareholder returns while navigating its capital structure. Garrett Motion, a leader in automotive technology, focuses on enhancing vehicle efficiency and connectivity. For detailed information, visit Garrett Motion's website.

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) reported Q4 2022 net sales of $898 million, a 4% increase from Q4 2021, and a 15% rise at constant currency. The company achieved a net income of $112 million with a 12.5% margin. For the full year, net sales fell 1% to $3.6 billion, amid a 10.8% net income margin. Adjusted EBITDA for Q4 2022 rose 8.5% to $140 million, with a margin of 15.6%. Garrett anticipates 2023 net sales between $3.55 billion and $3.85 billion, with a focus on electrification technologies. The company ended 2022 with $721 million in liquidity, including $246 million in cash.

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) announced plans to release its financial results for the fourth quarter and full year 2022 on February 14, 2023, before market opens. A conference call will follow at 8:30 am EDT, accessible via phone and webcast, with supporting material available on Garrett's investor relations website. With over 65 years in the industry, Garrett specializes in automotive technologies, including turbocharging and electric boosting solutions, aimed at enhancing vehicle efficiency and connectivity. For more information, visit www.garrettmotion.com.

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) has declared a cash dividend of $0.17 per share for its Series A 11% PIK Preferred Stock, replacing the accrual option for the fourth quarter. This dividend will be paid on January 3, 2023, to shareholders on record by December 20, 2022.

Garrett Motion has been a leader in automotive technology for over 65 years, focusing on cleaner, more efficient vehicles through their innovative turbocharging and electric boosting solutions.

Garrett Motion reported Q3 2022 net sales of $945 million, a 13% increase year-over-year, with net income at $105 million, reflecting an 11.1% margin. Adjusted EBITDA rose to $146 million while the adjusted EBITDA margin decreased to 15.4%. Year-to-date net sales totaled $2,705 million, down 2% on a GAAP basis. The company revised its full-year 2022 outlook, expecting net sales between $3.57 billion and $3.67 billion. Garrett aims to maintain strong cash flow, evidenced by $120 million in adjusted free cash flow for Q3.

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) announced plans to release its third-quarter financial results on October 26, 2022, prior to market opening. The company will conduct a conference call at 8:30 am EDT to discuss the results. Interested participants can register for the call through their investor relations website. Garrett Motion has over 65 years of experience in the automotive technology industry, focusing on innovative solutions such as turbocharging and electric boosting for cleaner and more efficient vehicles.

Garrett Motion (Nasdaq: GTX, GTXAP) declared a cash dividend of $0.17 per share for the Series A 11% PIK Preferred Stock, payable on October 3, 2022. This decision follows the complete repayment of the Series B preferred stock and aims to mitigate the impact of compounding interest and future dilution. The dividend will benefit holders of record as of September 23, 2022. CEO Olivier Rabiller highlighted that consistent cash generation in a volatile market has facilitated significant deleveraging efforts.

Garrett Motion reported Q2 2022 net sales of $859 million, down 8% year-over-year. Net income decreased to $85 million, reflecting a 9.9% margin. Adjusted EBITDA was $138 million with a margin of 16.1%. The company noted challenges from semiconductor shortages and the impact of COVID-related lockdowns in China. Despite these obstacles, Garrett reaffirmed its full-year 2022 outlook for net sales between $3.5 and $3.7 billion, anticipating a growth of 5% to 10% at constant currency.

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) has announced its upcoming financial results for Q2 2022, scheduled for release on July 28, 2022, before market opening.

A conference call will follow on the same day at 8:30 am EDT / 3:30 pm CET. Investors can access the press release and listen to the webcast via the Investor Relations section of their website. Garrett, a leader in automotive technology for over 65 years, provides solutions that enhance vehicle safety, connectivity, and efficiency.