Garrett Motion Q2 net sales $1.011B (+18% YoY); raises FY2023 outlook; plans $200M debt repayment

Garrett Motion Inc.

2023-Q2 EPS reported -$1.86 revenue$1,981,000,000

Net sales $1,011M (+18% YoY); net income $71M (7.0% margin); adj. EBITDA $170M (16.8% margin).
Adjusted free cash flow $140M vs $23M in Q2 2022; operating cash flow $164M.
Raising full year 2023 financial outlook (specifics not detailed in release).
Planning early debt repayment of $200M in Q3 2023.
Won two pre-development awards in E-Powertrain and E-Cooling for zero-emission vehicles.

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 0.9

Garrett Motion Inc. reported the three months ended June 30, 2023 results: revenue $1,011 million, net income $71 million. Guidance raised.

Period: the three months ended June 30, 2023
Revenue: $1,011 million
Net income: $71 million
Guidance: raised
Result: reported results

Exact text from the filing

Second Quarter 2023 Highlights • Net sales totaled $1,011 million, up 18% on a reported basis, up 19% at constant currency* • Net income totaled $71 million; Net income margin 7.0% • Adjusted EBITDA* totaled $170 million; Adjusted EBITDA margin* of 16.8% • Net cash provided by operating activities totaled $164 million • Adjusted free cash flow* totaled $140 million • Expected Q3 early debt repayment for $200 million • Raising outlook for 2023

View on SEC.gov

Browse all earnings releases →

Garrett Motion Inc. filing history →

Source: SEC EDGAR

accession 0001735707-23-000058

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.