Garrett Motion Inc. (NASDAQ:GTX) shares surged over 5% in Thursday's pre-market trading session after the auto technology company reported better-than-expected Q4 2024 earnings and issued an upbeat outlook for 2025. The company also announced a new $250 million share repurchase program.

For Q4, Garrett posted EPS of $0.47, surpassing analysts' estimates of $0.28. However, revenue of $844 million came in slightly below expectations of $860.5 million. The company cited lower production volumes, particularly for diesel vehicles in Europe and soft gasoline demand in China and North America.

Looking ahead to 2025, Garrett forecasted net sales in the range of $3.3 billion to $3.5 billion, with the midpoint slightly below consensus estimates. Despite the modest revenue outlook, the company expects to deliver robust profitability with adjusted EBITDA guidance of $545 million to $605 million and adjusted free cash flow projection of $300 million to $390 million.