Garrett Motion (GTX) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system ...

Investors in Garrett Motion Inc. (GTX) need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 17, 2025 $3 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also m ...

ROLLE, Switzerland and PLYMOUTH, Mich., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) ("Garrett" or the "Company"), a leading differentiated automotive technology provider, today announced the adoption of a long-term capital allocation framework, under which the Company will target returning 75% or more of its Adjusted Free Cash Flow to shareholders over time through a combination of share repurchases and a regular quarterly cash dividend. As part of this framework, the Company’s Board ...

Phase 1/2 data show improvements across all domains and confirm that Phase 3 Aspire study is amply powered to establish efficacy of GTX-102 Phase 3 program on track to begin enrollment by end-of-year NOVATO, Calif., Nov. 09, 2024 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) today announced Phase 1/2 data in support of the Phase 3 Aspire study for GTX-102, its investigational antisense oligonucleotide for Angelman syndrome, that will be presented at the 2024 Foundation for Angelman Syndr ...

OCTOBER 24, 2024 Q3 2024 FINANCIAL RESULTS © 2024 Garrett Motion Inc. Forward Looking Statements This communication and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should ...

Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA margin of 17.4%, which is an increase of 160 basis points compared to the previous year despite challenging industry conditions [6][12][14] - Adjusted EBITDA was $144 million in Q3, representing an $8 million decrease year-over-year, with reported net sales decreasing by $134 million [14] - The company generated $71 million of adjusted free cash flow in Q3 2024, maintaining a strong liquidity position of $696 million [8][16] Business Line Data and Key Metrics Changes - Approximately 30% of revenue comes from commercial vehicles, aftermarket, and industrial sectors, which remained stable despite a decline in the on-highway commercial vehicle industry in Europe [7][13] - The company has seen a strong new business win rate across all turbo verticals, particularly in large turbos, driven by demand from data centers [9][10] Market Data and Key Metrics Changes - The company experienced softness in the light vehicle industry in Europe and China, with competitive pressures affecting some customers [6][12][13] - There are early signs of recovery in the China commercial vehicle industry, particularly in natural gas-powered trucks [23] Company Strategy and Development Direction - The company is focusing on expanding its turbo offerings and investing over 50% of its R&D spending in 2024 on zero-emission technologies while still investing in turbo solutions [18][19] - A letter of intent was signed to jointly develop a next-generation electric powertrain with SinoTruk, with production expected to start as early as 2027 [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the softness in the automotive industry as a primary driver for adjusting guidance for Q4, but noted that the company's performance remains strong [21] - The company anticipates a flat sales outlook in Q4 compared to Q3, reflecting softer industry production in light vehicles [17][18] Other Important Information - The company repurchased $52 million of common stock in Q3, totaling $226 million for the year under its $350 million stock repurchase program [8][16] - The company maintained a net leverage ratio of 2.26 times, consistent with the previous quarter [16] Q&A Session Summary Question: What surprised you in Q3 that led to the readjustment of guidance for Q4? - Management indicated that the softness in the automotive industry was stronger than anticipated, which was the main driver for the guidance adjustment [21] Question: Are there any changes in China regarding customer production startups? - Management noted ongoing softness in the passenger vehicle industry in China but highlighted signs of recovery in the commercial vehicle sector [23] Question: What is happening in the light vehicle market regarding product mix? - Management observed a trend towards more hybrid vehicles, which is positive for the turbo industry and Garrett [24] Question: Are customers adopting more higher-margin products? - Management indicated that there is a trend towards higher technology turbochargers, particularly in response to emission regulations [25] Question: Why wasn't the benefit from the refinancing reflected in the quarterly interest expense? - Management explained that the interest expense is affected by bonds that pay twice a year and some one-time fees related to the refinancing [27][28] Question: What does the electrified solutions strategy mean for the industry? - Management emphasized that both commercial and passenger vehicles are part of their electrification strategy, with significant demand for their technology [29] Question: Is the company structurally more profitable than expected? - Management confirmed that ongoing efforts to improve cost efficiency have resulted in a higher floor for profitability, despite industry softness [43][44]

Garrett Motion (GTX) came out with quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -20%. A quarter ago, it was expected that this maker of vehicle turbocharging and electric-boosting gear would post earnings of $0.24 per share when it actually produced earnings of $0.28, delivering a surprise of 16 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share GTX The Nasdaq Stock Market LLC FORM 10-Q ________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUAN ...

Financial Performance - Net sales for Q3 2024 totaled $826 million, a decrease of 14% compared to $960 million in Q3 2023[4] - Adjusted EBITDA for Q3 2024 was $144 million, with an adjusted EBITDA margin of 17.4%, up 160 basis points year-over-year[2] - Net income for Q3 2024 was $52 million, resulting in a net income margin of 6.3%[3] - Adjusted free cash flow for Q3 2024 increased to $71 million, compared to $57 million in Q3 2023[12] - Net income for the three months ended September 30, 2024, was $52 million, compared to $57 million in the same period of 2023, resulting in earnings per share of $0.24[23] - Net income for the three months ended September 30, 2024, was $52 million, a decrease from $57 million in the same period of 2023, while net income for the nine months ended September 30, 2024, was $182 million, down from $209 million in 2023[8] - Adjusted EBITDA for the three months ended September 30, 2024, was $144 million, compared to $152 million in 2023, and for the nine months ended September 30, 2024, it was $445 million, down from $490 million in 2023[8] - The company reported a net income margin of 6.3% for the three months ended September 30, 2024, compared to 5.9% in 2023, and a net income margin of 6.9% for the nine months ended September 30, 2024, compared to 7.1% in 2023[8] Sales and Revenue Outlook - The full year 2024 outlook for net sales is projected between $3.40 billion and $3.50 billion, with a constant currency sales growth decline of 12% to 10%[15] - The full year 2024 outlook for reported net sales growth at constant currency is projected to be between -12% and -10%[35] - The full year 2024 outlook for adjusted EBITDA is estimated to be between $585 million and $605 million[36] - Net sales for the three months ended September 30, 2024, were $826 million, a decline of 14% compared to $960 million in the same period of 2023, while net sales for the nine months ended September 30, 2024, were $2.631 billion, down from $2.941 billion in 2023[8] Debt and Cash Management - As of September 30, 2024, total principal amount of debt outstanding was $1,495 million, down from $1,497 million as of June 30, 2024[13] - Cash and cash equivalents at the end of the period were $96 million, down from $259 million at the beginning of the period[25] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $277 million, compared to $330 million in the same period of 2023[27] - The company incurred interest expense of $37 million for the three months ended September 30, 2024, down from $48 million in the same period of 2023[23] - Net cash provided by operating activities for the three months ended September 30, 2024, was $67 million, down from $74 million in 2023[33] Operational Efficiency and Cost Management - The company plans to continue focusing on cost management and operational efficiency to improve profitability in the upcoming quarters[23] - Capital expenditures for the three months ended September 30, 2024, were $20 million, compared to $24 million in 2023[33] Strategic Partnerships and Innovations - The company has entered a partnership with SinoTruk to co-develop e-powertrain systems for trucks by 2027[1] - Garrett was recognized with the 2024 Stellantis Innovation Award for its zero-emission technologies[1] Market and Product Development - User base grew to 10 million active users, a 20% increase compared to the previous quarter[12] - New product launches contributed to a 30% increase in sales in the last quarter[12] - Market expansion efforts led to a 25% increase in international sales[12] - The company is exploring potential acquisitions to strengthen its market position, with a budget of $500 million allocated for this purpose[12] - The company plans to enter two new markets by the end of 2023, targeting a 10% market share within the first year[12] - Overall, the company remains optimistic about future growth, citing strong demand and innovative strategies[12]

Third Quarter 2024 Financial Highlights Net sales totaled $826 million, down 14% on a reported and constant currency* basisNet income totaled $52 million; Net income margin of 6.3%Adjusted EBITDA* totaled $144 million; Adjusted EBITDA margin* of 17.4%Net cash provided by operating activities totaled $67 millionAdjusted free cash flow* totaled $71 million Third Quarter 2024 Business Highlights Won new marine and auxiliary power awards for our largest turbocharger with start of production in 2026Entered into ...