Garrett Motion Stock Price, News & Analysis

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.

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) announced plans to redeem its remaining $212 million Series B preferred stock on June 28, 2022, using cash on hand. This move follows a strong operational performance, leading to solid cash flow and significant deleveraging results. The company has already redeemed $211 million of Series B stock in Q4 2021 and $197 million in Q1 2022. Garrett continues to focus on R&D and growth despite market volatility. Honeywell expressed satisfaction with Garrett's early redemption plans.

Garrett Motion reported Q1 2022 net sales of $901 million, a 10% decrease from Q1 2021, impacted by semiconductor shortages and supply chain issues. Net income reached $88 million, marking a recovery from a $105 million loss in Q1 2021. Adjusted EBITDA fell to $146 million, highlighting inflationary pressures and lower production volumes. The company revised its 2022 outlook, lowering net sales forecast to $3.5-$3.7 billion due to continued market challenges, specifically in China and global auto production.

Garrett Motion Inc. (Nasdaq: GTX) is showcasing advanced electric-boosting technologies at the Vienna Motor Symposium. Their lineup features the E-Turbo and E-Compressor aimed at hybrid vehicles, plus a new modular compressor for fuel cell electric vehicles. The company has invested in capabilities to support the growing demand for electrification. Innovations like the second-generation E-Compressor enhance efficiency while reducing emissions. Garrett's software solutions also promote predictive maintenance and cybersecurity in connected vehicles, highlighting their role in a more sustainable automotive industry.

Garrett Motion Inc. (Nasdaq: GTX, GTXAP) will announce its Q1 2022 financial results on April 28, 2022, before market open. A conference call will follow at 8:30 AM ET, allowing investors to discuss results directly. Participants can join by phone or watch via webcast. This marks an important event for stakeholders as the company continues to provide innovative solutions in the automotive sector. The call will also be archived for later access.

Garrett Motion Inc. (NASDAQ: GTX) reported Q4 2021 net sales of $862 million, a 14% decrease year-over-year, impacted by global semiconductor shortages. For the full year 2021, sales totaled $3.63 billion, a 20% increase, driven by strong demand in commercial vehicles and aftermarket segments. Net income for Q4 reached $128 million, compared to $26 million last year, with adjusted EBITDA of $129 million. The company anticipates 2022 net sales between $3.7 billion and $4.0 billion, indicating growth despite ongoing economic challenges.