Solid Financial Performance
Garrett delivered net sales of $913 million, adjusted EBIT of $124 million, and a strong adjusted free cash flow of $121 million for the quarter. Gasoline turbo sales grew by 4%, outperforming the industry.
Significant Business Wins
Garrett was awarded over $1 billion in light vehicle program extensions, ensuring visibility on future turbo sales.
Progress in Zero-Emission Technologies
Secured significant awards and proof-of-concept partnerships in E-Powertrain and Fuel Cell Compressors, and inaugurated a new R&D center in Wuhan, China.
Shareholder Returns
Paid a $12 million quarterly dividend and repurchased $22 million of common stock, with a total of $52 million in share repurchases in the first half.