Garrett Motion Q3: Sales Plummet 14% Amid Weak Vehicle Demand, Cuts FY24 Topline Forecast [Yahoo! Finance]
Garrett Motion Inc. (GTX)
Last garrett motion inc. earnings: 2/27 07:00 am
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Source: Yahoo! Finance
Sales declined 14% (reported and constant currency basis) year-over-year to $826 million, missing the consensus of $851 million. The decline was primarily due to weaker light vehicle sales caused by industry softness in Europe and China, competitive pressures on global OEMs, and short-term impacts from the customer vehicle platform mix. Net sales were also affected by pricing, net of inflation pass-through, and commodity deflation. Gross profit was $166 million, compared to $176 million last year, with a gross profit margin of 20.1% versus 18.3% a year ago. Adjusted EBITDA declined to $144 million from $152 million on lower volumes, the impact of commodity deflation on pricing after accounting for inflation pass-through, and unfavorable foreign exchange effects. Adjusted EBITDA margin increased to 17.4% compared to 15.8% prior year. EPS of $0.24 missed the consensus of $0.29 Operating cash flow totaled $67 million in the quarter, compared to $74 million a year ago. Adjust
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News
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- Earnings Miss: Garrett Motion Inc. Missed EPS By 19% And Analysts Are Revising Their Forecasts [Yahoo! Finance]Yahoo! Finance
- Garrett Motion Third Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
GTX
Earnings
- 10/24/24 - Miss
GTX
Sec Filings
- 11/19/24 - Form 144
- 11/14/24 - Form SC
- 11/5/24 - Form 4
- GTX's page on the SEC website