secwatch.observer — SEC 8-K summary
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Issuer:     Garrett Motion Inc. (GTX)
CIK:        0001735707
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0001735707-23-000072
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Garrett Motion Q3 net income falls to $57M from $105M; adjusted EBITDA margin improves to 15.8%
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- Net sales of $960M, up 2% reported but down 1% constant currency; net income margin 5.9% vs. 11.1% a year ago.
- Adjusted EBITDA of $152M (15.8% margin) vs. $146M (15.4%) in Q3 2022; adjusted free cash flow $57M.
- Repaid $200M of debt early and repurchased $161M of common stock; S&P upgraded to BB- with stable outlook.
- Received two new E-Cooling pre-development awards and launched GT80, largest turbo for industrial customers.
- Revised and narrowed 2023 outlook range due to currency headwinds; no specific guidance numbers provided.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735707/000173570723000072/0001735707-23-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735707/000173570723000072/gtx-20231024.htm
  HTML page:      https://secwatch.observer/filing/0001735707-23-000072

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