Stock Track | Garrett Motion Plunges in Pre-Market on Disappointing Q3 Results, Lowered Outlook

Stock Track

Oct 24, 2024

Shares of Garrett Motion Inc. (GTX) were trading sharply lower in the pre-market session on Wednesday, following the company's release of its third-quarter 2024 financial results. The auto parts supplier reported weaker-than-expected Q3 revenue and lowered its full-year outlook, weighing on investor sentiment.

For the three months ended September 30, 2024, Garrett Motion's net sales declined 14% year-over-year to $826 million, missing analysts' average estimate of $851 million. The company cited unfavorable foreign currency translation and lower sales across its gasoline, diesel, and commercial vehicles segments as the primary reasons for the revenue decline.

Furthermore, Garrett Motion's adjusted EBITDA for Q3 2024 fell to $144 million, down from $152 million in the prior-year period. The company attributed the decrease in profitability to the lower sales volume, partially offset by cost-reduction initiatives.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1177021699"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1177021699\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1177021699?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-24 19:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1177021699","market":"hk","top_or_hot":-1,"title":"Stock Track | Garrett Motion Plunges in Pre-Market on Disappointing Q3 Results, Lowered Outlook","media":"Stock Track","content":"<p>Shares of Garrett Motion Inc. (GTX) were trading sharply lower in the pre-market session on Wednesday, following the company's release of its third-quarter 2024 financial results. The auto parts supplier reported weaker-than-expected Q3 revenue and lowered its full-year outlook, weighing on investor sentiment.</p>\n\n<p>For the three months ended September 30, 2024, Garrett Motion's net sales declined 14% year-over-year to $826 million, missing analysts' average estimate of $851 million. The company cited unfavorable foreign currency translation and lower sales across its gasoline, diesel, and commercial vehicles segments as the primary reasons for the revenue decline.</p>\n\n<p>Furthermore, Garrett Motion's adjusted EBITDA for Q3 2024 fell to $144 million, down from $152 million in the prior-year period. The company attributed the decrease in profitability to the lower sales volume, partially offset by cost-reduction initiatives.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Garrett Motion Plunges in Pre-Market on Disappointing Q3 Results, Lowered Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Garrett Motion Plunges in Pre-Market on Disappointing Q3 Results, Lowered Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-10-24 19:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares of Garrett Motion Inc. (GTX) were trading sharply lower in the pre-market session on Wednesday, following the company's release of its third-quarter 2024 financial results. The auto parts supplier reported weaker-than-expected Q3 revenue and lowered its full-year outlook, weighing on investor sentiment.</p>\n\n<p>For the three months ended September 30, 2024, Garrett Motion's net sales declined 14% year-over-year to $826 million, missing analysts' average estimate of $851 million. The company cited unfavorable foreign currency translation and lower sales across its gasoline, diesel, and commercial vehicles segments as the primary reasons for the revenue decline.</p>\n\n<p>Furthermore, Garrett Motion's adjusted EBITDA for Q3 2024 fell to $144 million, down from $152 million in the prior-year period. The company attributed the decrease in profitability to the lower sales volume, partially offset by cost-reduction initiatives.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GTX","symbol_name":"Garrett Motion Inc.","start_time":0,"source_url":"","article_id":"1177021699","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1177021699","pubTimestamp":1729768342,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Garrett Motion Inc.  were trading sharply lower in the pre-market session on Wednesday, following the company's release of its third-quarter 2024 financial results. The auto parts supplier reported weaker-than-expected Q3 revenue and lowered its full-year outlook, weighing on investor sentiment.For the three months ended September 30, 2024, Garrett Motion's net sales declined 14% year-over-year to $826 million, missing analysts' average estimate of $851 million. The company cited unfav","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GTX":"Garrett Motion Inc."},"translate_title":"Garrett Motion因第三季度业绩令人失望、前景下调而盘前暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GTX":1},"content_text":"Shares of Garrett Motion Inc. (GTX) were trading sharply lower in the pre-market session on Wednesday, following the company's release of its third-quarter 2024 financial results. The auto parts supplier reported weaker-than-expected Q3 revenue and lowered its full-year outlook, weighing on investor sentiment.\nFor the three months ended September 30, 2024, Garrett Motion's net sales declined 14% year-over-year to $826 million, missing analysts' average estimate of $851 million. The company cited unfavorable foreign currency translation and lower sales across its gasoline, diesel, and commercial vehicles segments as the primary reasons for the revenue decline.\nFurthermore, Garrett Motion's adjusted EBITDA for Q3 2024 fell to $144 million, down from $152 million in the prior-year period. The company attributed the decrease in profitability to the lower sales volume, partially offset by cost-reduction initiatives.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}