Garrett Motion Q1 net sales $915M (-6% YoY), net income $66M, repurchased $109M stock

Garrett Motion Inc.

2024-Q1 EPS reported $0.28 revenue$915,000,000

Net sales $915M, down 6% reported and 5% constant currency; net income $66M ($81M Q1 2023).
Adjusted EBITDA $151M (16.5% margin) vs $168M (17.3%) in prior year.
Repurchased $109M of common stock during Q1; made $100M early debt repayment on April 10.
Reiterated FY 2024 outlook: net sales ~$3,870M, adjusted EBITDA ~$620M, adjusted FCF ~$375M.
CEO highlighted new series production awards in power generation, traction motor testing with OEM, and fuel cell compressor awards.

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 0.99

Garrett Motion Inc. reported the three months ended March 31, 2024 results: revenue $915 million, net income $66 million. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $915 million
Net income: $66 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net sales totaled $915 million, down 6% on a reported basis and 5% at constant currency* • Net income totaled $66 million; Net income margin 7.2% • Adjusted EBITDA* totaled $151 million; Adjusted EBITDA margin* of 16.5%

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Source: SEC EDGAR

accession 0001735707-24-000023

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