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. reports developments in turbocharging, electric-boosting and thermal-management technologies for automotive, commercial vehicle and industrial applications. News commonly covers quarterly results and outlook, light-vehicle and commercial-vehicle program awards, E-Powertrain and E-Cooling wins, and product activity around oil-free centrifugal compressors for battery energy storage, data-center, HVAC and electric commercial-vehicle cooling systems.
The company also issues updates on capital allocation, including dividends and share repurchases, as well as technology presentations tied to its Turbo, Zero-Emission Vehicle and Industrial portfolios.
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.
Garrett Motion Inc. (Nasdaq: GTX, GTXAP) announced plans to release its financial results for Q4 and full year 2021 on February 14, 2022, before market open. The company will hold a conference call at 8:30 AM ET to discuss these results. Investors can participate by dialing +1-833-797-0899 (US) or +1-409-937-8894 (international). A replay will be available until March 1, 2022, and the call will also be broadcasted online. Garrett has been a technology leader for over 65 years, providing innovative solutions in the automotive sector.
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.