Garrett Motion Q3 Earnings Rise, Revenue Falls; 2024 Sales Guidance Updated

MT Newswires Live

2024-10-24

Garrett Motion (GTX) reported Q3 earnings Thursday of $0.24 per diluted share, up from $0.23 a year earlier.

An analyst polled by Capital IQ expected $0.29.

Net sales for the quarter ended Sept. 30 were $826 million, down from $960 million a year earlier.

Two analysts surveyed by Capital IQ expected $851 million.

The automotive technology company said it now expects 2024 net sales of $3.40 billion to $3.50 billion, compared with its prior guidance of $3.50 billion to $3.65 billion. Two analysts polled by Capital IQ expect $3.56 billion.

Shares of the company were down over 6% in recent premarket activity.

Price: 7.47, Change: -0.51, Percent Change: -6.39

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