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 a global leader in automotive technology, providing innovative solutions that enable vehicles to become cleaner, more efficient, and connected. With over 65 years of industry experience, Garrett specializes in engineered turbocharging and electric-boosting technologies for light and commercial vehicle original equipment manufacturers (OEMs). The company offers a diverse range of products, including gas and diesel turbochargers, electric propulsion systems, fuel cell technologies, and automotive software solutions.
Garrett's cutting-edge technology supports the transportation industry in achieving reduced emissions and improved fuel efficiency. The company's offerings span various powertrains, including gasoline, diesel, natural gas, and electrified systems. Garrett also caters to the aftermarket segment through its extensive distribution network, ensuring that its high-quality technologies are accessible worldwide. Europe remains a significant market for the company, contributing the highest geographical revenue share.
Recent achievements highlight Garrett's commitment to sustainability and innovation. The company recently published a white paper examining the CO2 emissions of battery electric vehicles (BEVs) compared to hybrid vehicles over their lifecycle. According to the study, hybrid vehicles with smaller batteries may offer lower emissions than BEVs in specific use cases, advocating for a mix of technologies to achieve the best environmental outcomes.
Additionally, Garrett Motion launched Garrett Marketplace, an advanced e-commerce platform catering to performance and racing enthusiasts. This online store provides direct access to Garrett's renowned turbochargers and performance parts, fulfilling the desires of motorsport aficionados and hobbyists alike.
Garrett operates through five R&D centers and 13 manufacturing sites, employing approximately 9,300 people across more than 20 countries. Its mission is to drive forward the future of transportation with unique, differentiated innovations. As the automotive industry evolves, Garrett continues to be a trusted partner for OEMs and consumers, offering state-of-the-art technologies that redefine motion.
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.
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.
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