Garrett Motion Q1 net sales $901M (-10% YoY); net income $88M vs loss in prior year

Garrett Motion Inc.

2022-Q1 EPS reported $0.15 revenue$901,000,000

Net sales $901M, down 10% YoY (6% at constant currency); net income $88M vs loss of $105M in Q1 2021.
Adjusted EBITDA $146M (16.2% margin) vs $176M (17.7%) in Q1 2021.
Net cash from operations $73M; adjusted free cash flow $38M.
Updated 2022 outlook for lower auto production and FX; new wins in E-Turbo and fuel cell compressor.
Gross profit $175M (19.4%) vs $196M (19.7%); productivity gains offset inflation and supply chain costs.

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