Garrett Motion Shares Fall as 3Q Profit Slips

Dow Jones

Oct 24, 2024

By Michael Susin

Garrett Motion shares fell Thursday after the company posted a drop in quarterly earnings, dragged down by lower sales volumes.

Shares of the automotive-technology provider were down 6.4% at $7.37 in premarket trading. The stock is down about 17% since the start of the year.

The Switzerland-based company posted third-quarter net income of $52 million, or 24 cents a share, down from $57 million, or 23 cents, in the comparable quarter last year. Sales fell 14% to $826 million.

The drop was driven, among other factors, by lower light-vehicle sales in Europe and China, and competitive pressure on global original equipment manufacturers, it said.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

October 24, 2024 08:20 ET (12:20 GMT)

At the request of the copyright holder, you need to log in to view this content

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/2477687206"},"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:\"2477687206\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2477687206?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-24 20:20","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2477687206","market":"sh","top_or_hot":-1,"title":"Garrett Motion Shares Fall as 3Q Profit Slips","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Michael Susin \n</p>\n<pre>\n \n</pre>\n<p>\n  Garrett Motion shares fell Thursday after the company posted a drop in quarterly earnings, dragged down by lower sales volumes. \n</p>\n<p>\n  Shares of the automotive-technology provider were down 6.4% at $7.37 in premarket trading. The stock is down about 17% since the start of the year. \n</p>\n<p>\n  The Switzerland-based company posted third-quarter net income of $52 million, or 24 cents a share, down from $57 million, or 23 cents, in the comparable quarter last year. Sales fell 14% to $826 million. \n</p>\n<p>\n  The drop was driven, among other factors, by lower light-vehicle sales in Europe and China, and competitive pressure on global original equipment manufacturers, it said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Michael Susin at michael.susin@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 24, 2024 08:20 ET (12:20 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"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>Garrett Motion Shares Fall as 3Q Profit Slips</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\">\nGarrett Motion Shares Fall as 3Q Profit Slips\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-24 20:20</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Michael Susin \n</p>\n<pre>\n \n</pre>\n<p>\n  Garrett Motion shares fell Thursday after the company posted a drop in quarterly earnings, dragged down by lower sales volumes. \n</p>\n<p>\n  Shares of the automotive-technology provider were down 6.4% at $7.37 in premarket trading. The stock is down about 17% since the start of the year. \n</p>\n<p>\n  The Switzerland-based company posted third-quarter net income of $52 million, or 24 cents a share, down from $57 million, or 23 cents, in the comparable quarter last year. Sales fell 14% to $826 million. \n</p>\n<p>\n  The drop was driven, among other factors, by lower light-vehicle sales in Europe and China, and competitive pressure on global original equipment manufacturers, it said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Michael Susin at michael.susin@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 24, 2024 08:20 ET (12:20 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B7SZL793.SGD","symbol_name":"Legg Mason Royce - US Small Cap Opportunity A Acc SGD-H","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2477687206","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477687206","pubTimestamp":1729772400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Garrett Motion shares fell Thursday after the company posted a drop in quarterly earnings, dragged down by lower sales volumes.Shares of the automotive-technology provider were down 6.4% at $7.37 in premarket trading. The stock is down about 17% since the start of the year.The Switzerland-based company posted third-quarter net income of $52 million, or 24 cents a share, down from $57 million, or 23 cents, in the comparable quarter last year. Sales fell 14% to $826 million.The drop was driven, among other factors, by lower light-vehicle sales in Europe and China, and competitive pressure on global original equipment manufacturers, it said.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B7SZL793.SGD":"Legg Mason Royce - US Small Cap Opportunity A Acc SGD-H","IE00B19Z4B17.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) ACC","GTX":"Garrett Motion Inc.","IE0031619046.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) INC","IE00B66KJ199.SGD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY  \" A\" (SGD) ACC","BK4124":"机动车零配件与设备"},"translate_title":"Garrett Motion股价因第三季度利润下滑而下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GTX":0.9},"content_text":"By Michael Susin \n\n\n \n\n\n  Garrett Motion shares fell Thursday after the company posted a drop in quarterly earnings, dragged down by lower sales volumes. \n\n\n  Shares of the automotive-technology provider were down 6.4% at $7.37 in premarket trading. The stock is down about 17% since the start of the year. \n\n\n  The Switzerland-based company posted third-quarter net income of $52 million, or 24 cents a share, down from $57 million, or 23 cents, in the comparable quarter last year. Sales fell 14% to $826 million. \n\n\n  The drop was driven, among other factors, by lower light-vehicle sales in Europe and China, and competitive pressure on global original equipment manufacturers, it said. \n\n\n \n\n\n  Write to Michael Susin at michael.susin@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 24, 2024 08:20 ET (12:20 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}