Insights into Garrett Motion's Financial Performance and Strategic Focus
Garrett Motion (GTX) delivered earnings and revenue surprises of 27.27% and 2.45%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
First Quarter 2024 Highlights 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%Net cash provided by operating activities totaled $84 millionAdjusted free cash flow* totaled $68 millionRepurchased $109 million of Common Stock Reiterated Full Year 2024 Outlook Net sales of $3,870 million, flat on a reported and constant currency basis*N