secwatch.observer — SEC 8-K summary
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Issuer:     Garrett Motion Inc. (GTX)
CIK:        0001735707
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001735707-24-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735707/000173570724000023/0001735707-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735707/000173570724000023/gtx-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001735707-24-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer