Garrett Motion Q1 preliminary net sales $970M (+8% YoY); raises FY 2023 outlook across all metrics

Garrett Motion Inc.

2023-Q1 EPS reported $0.13 revenue$970,000,000

Net sales $970M (+8% YoY; +13% constant currency); Net income $81M vs $88M YoY (due to swap mark-to-market).
Adjusted EBITDA $168M (17.3% margin) vs $146M; Adjusted free cash flow $88M vs $38M.
Cash from operations $92M vs $73M; Cash and equivalents $291M; Total debt $1,193M; $475M undrawn RCF.
Full year 2023 outlook raised for net sales, net income, adjusted EBITDA, cash flow, and adjusted free cash flow.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Garrett Motion Inc. reported three months ended March 31, 2023 results: revenue $970 million, net income $81 million. Guidance raised.

Period: three months ended March 31, 2023
Revenue: $970 million
Net income: $81 million
Guidance: raised
Result: preliminary results

Exact text from the filing

Company’s detailed quarter-end close procedures and independent review, the Company expects the following results for the first quarter ended on March 31, 2023: • Net sales of $970 million, an 8% increase compared to $901 million in first quarter 2022, up 13% at constant currency* • Net income of $81 million, net income margin 8.4%, down from $88 million, primarily

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Source: SEC EDGAR

accession 0001735707-23-000035

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