earnings
confidence high
sentiment neutral
materiality 0.75
Garrett Motion Q2 net sales $859M (-8% YoY), net income $85M, adjusted EBITDA $138M, updates FY2022 outlook
Garrett Motion Inc.
2022-Q2 EPS reported
$0.31
revenue$1,760,000,000
- Net sales $859M (-8% YoY, flat constant currency); net income $85M vs $409M (including $295M reorganization gain prior year).
- Adjusted EBITDA $138M (16.1% margin) vs $168M (18.0%) prior year; adjusted free cash flow $23M.
- Completed $212M prepayment, fully redeemed Series B preferred stock, reducing leverage.
- Updated FY2022 outlook: expects upper half of prior range, higher production offset by weaker euro.