Welcome to our dedicated page for Garrett Motion news (Ticker: GTX), a resource for investors and traders seeking the latest updates and insights on Garrett Motion stock.
Garrett Motion Inc. (NASDAQ: GTX) is described in its public communications as a differentiated automotive technology provider with a long history in turbocharging and growing activities in zero-emission vehicle technologies. The GTX news page on Stock Titan aggregates company press releases and third-party coverage so readers can follow how these themes develop over time.
According to recent announcements, Garrett reports quarterly financial results, updates its full-year outlook, and communicates decisions on dividends, share repurchase programs and debt management. These items appear in earnings releases, Form 8-K filings and related press releases, giving investors insight into revenue trends, margins, cash flow and capital allocation priorities.
Garrett’s news flow also highlights business developments such as new light vehicle turbo program awards, commercial vehicle and industrial contracts, milestones in E-Powertrain, E-Cooling and fuel cell programs, and the opening of innovation centers like the Wuhan Innovation Center in China. The company uses these updates to describe progress in turbocharging, electrification and zero-emission technologies across passenger vehicles, commercial vehicles and industrial applications.
Corporate governance and organizational changes, including board and executive transitions, are disclosed through press releases and current reports. In addition, index membership updates, such as Garrett’s inclusion in the Russell 2000 Index, are communicated as part of its capital markets profile.
By reviewing GTX news on this page, readers can track Garrett Motion’s reported operating performance, technology initiatives and financing actions in one place. Regular updates tied to official company communications and regulatory disclosures help investors and observers monitor how the company presents its strategy in turbocharging and zero-emission technologies over time.
Garrett Motion Inc. (Nasdaq: GTX) announced significant financial maneuvers aimed at enhancing liquidity and reducing debt by over $400 million. The company will accelerate Series B preferred stock redemptions, expecting a $411 million debt decrease by Q1 2022. This follows a prior announcement of a $100 million share repurchase program. The first partial redemption of $211 million is set for December 28, 2021, with an additional $200 million expected in Q1 2022, subject to liquidity conditions. These actions reflect Garrett's strong performance and strategic growth focus in the automotive sector.
Garrett Motion Inc. (Nasdaq: GTX) has authorized a $100 million share repurchase program aimed at enhancing shareholder returns and normalizing its capital structure. This program is valid until November 15, 2022, with purchases split approximately 4:1 between Series A Preferred shares and common shares. CEO Olivier Rabiller expressed confidence in the company's outlook and the value of its shares, emphasizing the strategic purpose of this capital allocation. The initiative reflects a commitment to optimizing shareholder value as Garrett focuses on its transformation in the automotive sector.
Garrett Motion Inc. (Nasdaq: GTX) reported Q3 2021 net sales of $839 million, reflecting a 2.2% increase at constant currency. Net income rose to $27 million, with adjusted net income at $65 million. Adjusted EBITDA improved to $134 million, with a margin of 16.0%. Year-to-date, net sales reached $2,771 million, up 29.7% at constant currency. However, net cash used for operating activities was ($55) million. The company revised its full-year net sales guidance down to $3.60-$3.70 billion, citing challenges in global auto production and supply chain disruptions.
Garrett Motion Inc. (Nasdaq: GTX) announced plans to release its financial results for Q3 and nine months ended September 30, 2021, on October 28, 2021, before market open. The company will host a conference call at 8:30 am ET / 2:30 pm CET the same day to discuss the results. Interested participants can join by dialing +1-833-797-0899 (US) or +1-409-937-8894 (international) with access code 1935489. The call will also be available via webcast on Garrett's investor relations website.
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Garrett Motion Inc. (Nasdaq: GTX) announced key financial restructuring measures aimed at reducing leverage and enhancing balance sheet flexibility. The company will redeem approximately $213 million of its Series B Preferred Stock early in 2022, reducing the present value of remaining payments to around $400 million. Additionally, the put option for repurchase has been deferred until December 31, 2022. Garrett aims to leverage this flexibility for capital deployment and growth opportunities. The board also saw a leadership change with Tina Pierce replacing Darius Adamczyk as Honeywell's designee.
Garrett Motion Inc. (GTX) reported strong Q2 2021 results, with net sales of $935 million, up 82.6% at constant currency. Net income available to common shareholders soared to $385 million. Adjusted EBITDA increased to $168 million, marking an EBITDA margin of 18.0%. The company completed its financial restructuring, emerging from Chapter 11 on April 30, 2021. For FY 2021, Garrett projects net sales between $3.70 billion and $3.90 billion and net income of $428 million to $468 million.
Garrett Motion Inc. (Nasdaq: GTX) announced plans to release its financial results for Q2 and six months ended June 30, 2021, on July 29, 2021, before market open. The company will host a conference call at 8:30 AM ET the same day, accessible by phone or via a webcast. Garrett Motion is recognized for providing innovative technology solutions for the automotive industry. Investors can find more information and access the call through the investor relations section of Garrett’s website.
Garrett Motion Inc. (Nasdaq: GTX) announced the launch of its Model-Based Predictive Control (MPC) technology software in collaboration with Hyundai Motor Company. This innovative software aims to enhance the performance, efficiency, and reliability of various vehicle types, including ICE, hybrid, and electric models. By integrating the MPC technology into Hyundai's i20 N, Garrett enables OEMs to optimize fuel economy and reduce emissions while streamlining development efforts. The initiative underscores Garrett's commitment to innovation and its expansion in the automotive technology market.
Garrett Motion Inc. (Nasdaq: GTX) announced an expansion of its Wuhan, China production facility by 50% to meet increasing demand from local and global automakers. The plant, operational since 2013, has experienced a 60% annual growth rate in production from 2014 to 2020, with net sales in China rising over 32% in 2020. The expansion, expected to complete by Q1 2022, will feature advanced production lines for turbo technology and electrification. This move underscores Garrett's commitment to supporting automotive innovations in China’s growing market.