Garrett Motion (GTX) delivered earnings and revenue surprises of 16.67% and 6.32%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?
ROLLE, Switzerland (AP) — Garrett Motion Inc. GTX) on Thursday reported profit of $64 million in its second quarter. The Rolle, Switzerland-based company said it had net income of 28 cents per share.
Second Quarter 2024 Highlights Net sales totaled $890 million, down 12% on a reported basis and down 10% at constant currency*Net income totaled $64 million; Net income margin of 7.2%Adjusted EBITDA* totaled $150 million; Adjusted EBITDA margin* of 16.9%Net cash provided by operating activities totaled $126 millionAdjusted free cash flow* totaled $62 millionRepurchased $65 million of Common Stock Updated Full Year 2024 Outlook Net sales of $3,570 millionNet income of $275 million; Net income mar