Garrett Motion, Inc. ( (GTX) ) has released its Q4 earnings. Here is a breakdown of the information Garrett Motion, Inc. presented to its investors.
Garrett Motion, Inc. is a prominent player in the automotive technology sector, specializing in turbocharging and zero-emission vehicle technologies, with operations spanning over 20 countries. The company recently released its 2024 earnings report, highlighting a robust financial performance despite a challenging industry environment. Garrett reported net sales of $3,475 million for 2024, which marks an 11% decrease from the previous year, attributed to lower diesel production in Europe and weak gasoline demand in China and North America. However, the company achieved a net income of $282 million, reflecting a net income margin of 8.1%, and generated $358 million in adjusted free cash flow. The company also repurchased $296 million of common shares, reducing its share count by 13% year-over-year. Key strategic developments for Garrett in 2024 included securing contracts in the marine and power sectors, co-developing e-powertrain systems with SinoTruk, and receiving recognition for its zero-emission technologies. Looking forward to 2025, Garrett anticipates net sales between $3.3 billion and $3.5 billion, with a focus on enhancing its zero-emission technology offerings and maintaining strong financial performance, even as the light vehicle production industry faces potential stagnation.