Garrett Motion Q1 2023 sales $970M (+8% YoY), net income $81M, Adj EBITDA $168M; reaffirms outlook

Garrett Motion Inc.

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

Net sales $970M, up 8% reported, 13% constant currency; gross profit margin 19.5%.
Net income $81M (8.4% margin), vs $88M in Q1 2022; Adjusted EBITDA $168M (17.3% margin).
Net cash from operations $92M, adjusted free cash flow $88M.
Capital structure simplification eliminates Series A preferred dividend, adds >$100M annual net cash flow.
Reaffirmed 2023 outlook.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Garrett Motion Inc. reported the quarter ended March 31, 2023 results: revenue $970 million, net income $81 million. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $970 million
Net income: $81 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

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 million • Adjusted free cash flow* totaled $88 million • Reaffirmed outlook for 2023

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Source: SEC EDGAR

accession 0001735707-23-000042

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