reports
Garrett Motion Reports First Quarter 2024 Financial Results
Garrett Motion Reports First Quarter 2024 Financial Results First Quarter 2024 Highlights Net sales totaled $915 million, down 6% on a reported basis and 5% at constant currency*Net income totaled $66 million; Net income margin 7.2%Adjusted EBITDA* totaled $151 million; Adjusted EBITDA margin* of 16.5%Net cash provided by operating activities totaled $84 millionAdjusted free cash flow* totaled $68 millionRepurchased $109 million of Common Stock Reiterated Full Year 2024 Outlook Net sales of $3,870 million, flat on a reported and constant currency basis*Net income of $253 million; Net inc...
Garrett Motion to Hold First Quarter 2024 Financial Results Conference...
Garrett Motion to Hold First Quarter 2024 Financial Results Conference Call on Thursday April 25, 2024 ROLLE, Switzerland, April 11, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the first quarter 2024 on Thursday, April 25, 2024, before the open of market trading. Garrett will hold a conference call the same day at 8:30 am EDT / 2:30 pm CET. To participate in the conference call, please dial (US) or (international) and use the passcode 1134891. ...
Garrett Motion Delivers Strong 2023, Issues 2024 Outlook, Authorizes N...
Garrett Motion Delivers Strong 2023, Issues 2024 Outlook, Authorizes New $350M Share Repurchase Program Fourth Quarter 2023 Highlights Net sales totaled $945 million, up 5% on a reported basis, up 3% at constant currency*Net income totaled $52 million; Net income margin 5.5%Adjusted EBITDA* totaled $145 million; Adjusted EBITDA margin* of 15.3%Net cash provided by operating activities totaled $135 millionAdjusted free cash flow* totaled $137 millionRepurchased $35 million of Common Stock Full Year 2023 Highlights Net sales totaled $3,886 million, up 8% on a reported basis, up 8% at const...
Paul A. Camuti Appointed to Board of Directors of Garrett Motion Inc.
Paul A. Camuti Appointed to Board of Directors of Garrett Motion Inc. ROLLE, Switzerland, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) (the “Company”), a leading differentiated automotive technology provider, today announced the appointment of Paul A. Camuti to its Board of Directors. Mr. Camuti brings over 30 years of experience in innovation and technology, with a significant focus on the industrial sector. Since 2020, he has served as Executive Vice President, Chief Technology and Sustainability Officer of Trane Technologies, overseeing the company's technical s...
Garrett Motion to Hold Fourth Quarter and Full Year 2023 Financial Res...
Garrett Motion to Hold Fourth Quarter and Full Year 2023 Financial Results Conference Call on Thursday February 15, 2024 ROLLE, Switzerland, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the fourth quarter and full year 2023 on Thursday, February 15, 2024 before the open of market trading. Garrett will hold a conference call the same day at 8:30 am EDT / 2:30 pm CET. To participate in the conference call, please dial (US) or (international) and use t...
Garrett Motion Reports Third Quarter 2023 Financial Results, Awarded T...
Garrett Motion Reports Third Quarter 2023 Financial Results, Awarded Two Additional E-Cooling Pre-Developments, Debuts the GT80, Garrett’s Largest Turbo for Industrial Customers Third Quarter 2023 Highlights Net sales totaled $960 million, up 2% on a reported basis, down 1% at constant currency*Net income totaled $57 million; Net income margin 5.9%Adjusted EBITDA* totaled $152 million; Adjusted EBITDA margin* of 15.8%Net cash provided by operating activities totaled $74 millionAdjusted free cash flow* totaled $57 millionEarly debt repayment of $200 millionRepurchased $161 million of Common...
Garrett Motion to Hold Third Quarter 2023 Financial Results Conference...
Garrett Motion to Hold Third Quarter 2023 Financial Results Conference Call on Tuesday October 24, 2023 ROLLE, Switzerland, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the third quarter 2023 on Tuesday, October 24, 2023 before the open of market trading. Garrett will also hold a conference call the same day at 8:00 am EDT / 2:00 pm CET. To participate on the conference call, please dial (US) or (international) and use the passcode 1022468. The co...
Garrett Motion Reports Strong Second Quarter 2023 Financial Results, R...
Garrett Motion Reports Strong Second Quarter 2023 Financial Results, Raises Full Year Outlook, and Planning Partial Debt Repayment Second Quarter 2023 Highlights Net sales totaled $1,011 million, up 18% on a reported basis, up 19% at constant currency*Net income totaled $71 million; Net income margin 7.0%Adjusted EBITDA* totaled $170 million; Adjusted EBITDA margin* of 16.8%Net cash provided by operating activities totaled $164 millionAdjusted free cash flow* totaled $140 millionExpected Q3 early debt repayment for $200 millionRaising outlook for 2023 ROLLE, Switzerland, July 27, 2023 (...
Garrett Motion to Hold Second Quarter 2023 Financial Results Conferenc...
Garrett Motion to Hold Second Quarter 2023 Financial Results Conference Call on Thursday July 27, 2023 ROLLE, Switzerland, July 10, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, today announced it plans to issue financial results for the second quarter 2023 on Thursday, July 27, 2023 before the open of market trading. Garrett will also hold a conference call the same day at 8:30 am EDT / 2:30 pm CET. To participate on the conference call, please dial (US) or (international) and use the passcode 1236546. Th...
Garrett Motion Converts Series A Preferred Stock Into Common Stock
Garrett Motion Converts Series A Preferred Stock Into Common Stock ROLLE, Switzerland, June 13, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, announced today the conversion of the Company’s Series A Preferred Stock into a single class of Common Stock, simplifying the Company’s capital structure and setting the stage for greater market capitalization, enhanced liquidity, a path to index inclusion, and a more diversified shareholder base. “We are pleased we have achieved this important milestone to be...
Garrett Motion Reports First Quarter 2023 Financial Results
Garrett Motion Reports First Quarter 2023 Financial Results First Quarter 2023 Highlights Net sales totaled $970 million, up 8% on a reported basis, up 13% at constant currency*Net income totaled $81 million; Net income margin 8.4%Adjusted EBITDA* totaled $168 million; Adjusted EBITDA margin* of 17.3%Net cash provided by operating activities totaled $92 millionAdjusted free cash flow* totaled $88 millionReaffirmed outlook for 2023 ROLLE, Switzerland, April 24, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX, GTXAP), a differentiated technology leader for the automotive industr...
Garrett Motion Announces Preliminary Results for First Quarter 2023 an...
Garrett Motion Announces Preliminary Results for First Quarter 2023 and Increases 2023 Outlook ROLLE, Switzerland, April 17, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX, GTXAP), a leading differentiated technology provider for the automotive industry, today announced strong preliminary results for first quarter 2023, including year-over-year net sales, net income, adjusted EBITDA, cash flow from operations and adjusted free cash flow. The Company also released its full year financial outlook, including increased forecasts for fiscal year 2023 net sales, net income, cash flow...
Garrett Motion Reaches Agreements with Centerbridge and Oaktree to Tra...
Garrett Motion Reaches Agreements with Centerbridge and Oaktree to Transform Capital Structure Series A Preferred Stock amended to automatically convert into Common Stock on or about July 3, 2023Conversion would result in a single class of Common Stock with greater liquidity and a multi-billion dollar equity market capitalizationEliminates 11% Series A Preferred dividend, providing over $100 million in annual net cash flow benefits Repurchase of $570 million of Series A Preferred Shares from Centerbridge and OaktreeBoard authorizes increase in general stock buyback program to $250 millionCe...
Garrett Motion Expects 2023 Financial Results in the Upper End of its ...
Garrett Motion Expects 2023 Financial Results in the Upper End of its Prior Outlook and Will Hold its First Quarter Conference Call on Monday April 24, 2023 Stronger volumes, robust operational performance, and favorable foreign exchange driving better than expected financial results year to date; full-year net income and Adjusted EBITDA currently forecasted to be at upper end of prior outlookGarrett on track to satisfy the Consolidated EBITDA conversion threshold in its Series A preferred stock in 2023, potentially as early as Q2 2023Automatic conversion of Series A preferred stock would s...
Garrett Motion Declares a Cash Dividend on Series A Preferred Stock
Garrett Motion Declares a Cash Dividend on Series A Preferred Stock ROLLE, Switzerland, March 08, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX, GTXAP), a leading differentiated automotive technology provider, today announced that the first quarter dividend for the Series A 11% PIK Preferred Stock will be made in cash and is in lieu of allowing the first quarter dividend to accrete. On March 8, 2023, the Disinterested Directors Committee of the Board of Directors of Garrett declared a quarterly cash dividend of $0.17 per share, which will be paid on April 3, 2023, to holders o...
Garrett Motion Reports Fourth Quarter 2022 Financial Results
Garrett Motion Reports Fourth Quarter 2022 Financial Results Fourth Quarter 2022 Highlights Reported net sales totaled $898 million, up 4% on a GAAP basis, up 15% at constant currency*Net income totaled $112 million; Net income margin 12.5%Adjusted EBITDA* totaled $140 million; Adjusted EBITDA margin* of 15.6%Net cash provided by operating activities totaled $137 millionAdjusted free cash flow* totaled $132 million YTD 2022 Highlights Net sales totaled $3,603 million, down 1% on a GAAP basis, up 8% at constant currency*Net income totaled $390 million; Net Income Margin 10.8%Adjusted EBIT...
Garrett Motion to Hold Fourth Quarter and Full Year 2022 Financial Res...
Garrett Motion to Hold Fourth Quarter and Full Year 2022 Financial Results Conference Call on Tuesday February 14, 2023 ROLLE, Switzerland, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX, GTXAP), a leading differentiated technology provider for the automotive industry, today announced it plans to issue financial results for the fourth quarter and full year 2022 on Tuesday, February 14, 2023 before the open of market trading. Garrett will also hold a conference call the same day at 8:30 am EDT / 2:30 pm CET. To participate on the conference call, please dial (US) or ...
Garrett Motion Declares a Fourth Quarter 2022 Cash Dividend on Series ...
Garrett Motion Declares a Fourth Quarter 2022 Cash Dividend on Series A Preferred Stock ROLLE, Switzerland, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX, GTXAP), a leading differentiated automotive technology provider, today announced that the fourth quarter dividend for the Series A 11% PIK Preferred Stock will be made in cash and is in lieu of allowing the fourth quarter dividend to accrete. On December 6, 2022, the Disinterested Directors Committee of the Board of Directors of Garrett declared a quarterly cash dividend of $0.17 per share, which will be paid on Jan...
Garrett Motion Reports Third Quarter 2022 Financial Results
Garrett Motion Reports Third Quarter 2022 Financial Results Third Quarter 2022 Highlights Reported net sales totaled $945 million, up 13% on a GAAP basis, up 25% at constant currency*Net income totaled $105 million; Net income margin 11.1%Adjusted EBITDA* totaled $146 million; Adjusted EBITDA margin* of 15.4%Net cash provided by operating activities totaled $61 millionAdjusted free cash flow* totaled $120 millionRevised full year 2022 outlook YTD 2022 Highlights Net sales totaled $2,705 million, down 2% on a GAAP basis, up 5% at constant currency*Net income totaled $278 million; Net Inco...
Garrett Motion to Hold Third Quarter 2022 Results Conference Call on W...
Garrett Motion to Hold Third Quarter 2022 Results Conference Call on Wednesday October 26, 2022 ROLLE, Switzerland, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX, GTXAP), a leading differentiated technology provider for the automotive industry, today announced it plans to issue financial results for the third quarter 2022 on Wednesday, October 26, 2022, before the open of market trading. Garrett will also hold a conference call the same day at 8:30 am EDT / 2:30 pm CET. To view the press release, presentation and SEC filings or to listen to the webcast, please visi...
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