Garrett Motion Inc is a global technology company that specializes in advanced automotive solutions, primarily focusing on turbocharging and electrification technologies. The company designs and manufactures high-performance turbochargers and other related products that enhance the efficiency and power output of internal combustion engines while also supporting the transition to electric and hybrid vehicles. By leveraging its expertise in fluid dynamics and thermal management, Garrett Motion is committed to helping automakers meet increasingly stringent emissions regulations and improve fuel economy, ultimately contributing to a more sustainable automotive future. Read More
PLYMOUTH, Mich. and ROLLE, Switzerland, May 20, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) (“Garrett” or the “Company”), a leading differentiated automotive technology provider, today announced a proposed secondary public offering of 17,000,000 shares of the Company’s common stock held by certain entities managed by affiliates of Oaktree Capital Management, L.P., Centerbridge Partners, L.P. and Cyrus Capital Partners, L.P. (collectively, the “Selling Stockholders”). The underwriters will have a 30-day option to purchase at their own election up to an additional 2,550,000 shares of common stock from the Selling Stockholders. The Selling Stockholders will receive all of the net proceeds from the proposed offering. The Company is not selling any shares and will not receive any proceeds from the proposed offering.
ROLLE, Switzerland and PLYMOUTH, Mich., April 23, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (NASDAQ: GTX), a leading differentiated automotive technology provider and Shaanxi Hande Axle Co., Ltd. (HanDe), a leading Chinese axle manufacturer for commercial vehicles, have signed a strategic agreement, including a series production award, to co-develop and manufacture advanced electric beam axle systems for medium and heavy-duty trucks. The signing took place today at the Shanghai Auto Show—China’s flagship platform for mobility innovation—marking a significant milestone in the electrification of commercial transport.
ROLLE, Switzerland and PLYMOUTH, Mich., April 22, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (NASDAQ: GTX), a leading differentiated automotive technology provider, is presenting its latest innovations at Auto Shanghai 2025 (April 23–May 2), including the China debut of its 3-in-1 E-Powertrain and E-Cooling Compressor—two breakthrough technologies driving the future of zero-emission mobility.Garrett’s showcase highlights its dual focus on cleaner internal combustion solutions and next-generation electrification technologies that improve energy efficiency, performance, and sustainability.
PLYMOUTH, Mich. and ROLLE, Switzerland, April 16, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading provider of differentiated automotive technology, today announced that it plans to release its first quarter financial results on Thursday, May 01, 2025, prior to the opening of the market trading in the United States.
Garrett Motion Inc. (NASDAQ: GTX) reported a 11% decline in Q4 sales to $844 million, missing consensus. Gross profit increased and new buyback and dividend plans were announced. CEO remains optimistic about zero-emission technologies and customer wins.
PLYMOUTH, Mich. and ROLLE, Switzerland, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading provider of differentiated automotive technology, today announced that it plans to release its fourth quarter financial results on Thursday, February 20, 2025, prior to the opening of the market trading in the United States.
PLYMOUTH, Mich. and ROLLE, Switzerland, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) ("Garrett" or the "Company"), a leading differentiated automotive technology provider, today announced that it has successfully refinanced its existing $692 million term loan, and refinanced and upsized its existing $600 million revolving credit facility to $630 million. Borrowings under each of the new facilities will initially bear interest at the Secured Overnight Financing Rate (SOFR) plus 225 basis points per annum, which represents a 50-basis point reduction from the existing facilities. The new term loan will mature in 2032, effectively extending the maturity of the Company's existing term loan by approximately four years, and the new revolving credit facility will mature in 2030, effectively extending the maturity date of the Company’s existing revolving credit facility by approximately two years.
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 of Directors has approved a new dividend policy, pursuant to which the Board intends to declare and pay quarterly dividends on its common stock in an aggregate amount of approximately $50 million in 2025. The Board has declared the first quarter 2025 cash dividend on the Company’s outstanding common stock of $0.06 per share payable January 31, 2025, to all common shareholders of record as of the close of business on January 15, 2025. The Board has also approved a new share repurchase program for 2025, pursuant to which the Company may repurchase up to $250 million of its common stock throughout the course of the year.
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GTX stock down after weak Q3 sales and lowered FY24 guidance due to industry softness and competitive pressures. Gross profit margin increased, but EPS missed estimates.
