NASDAQ$GTX
Garrett Motion Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Garrett Motion's financial performance was strong, with raised full-year outlook and plans for partial debt repayment.
Garrett Motion reported strong second-quarter results, driven by operational excellence and strong customer demand. Net sales increased by 18% to $1,011 million, and adjusted EBITDA reached $170 million. The company is raising its full-year outlook for 2023 and planning an early debt repayment of $200 million in Q3.
- Net sales totaled $1,011 million, up 18% on a reported basis and 19% at constant currency.
- Net income totaled $71 million, with a net income margin of 7.0%.
- Adjusted EBITDA totaled $170 million, with an adjusted EBITDA margin of 16.8%.
- The company is raising its outlook for 2023.
Headline financials
Revenue & EPS history
Garrett Motion · Revenue · Quarterly
$1.01B
Revenue by segment
Garrett Motion · $839M total across 3 segments · Q2 2021
- Gasoline$442M—52.7%
- Diesel$321M—38.3%
- Aftermarket$76M—9.1%
Forward guidance
Garrett is providing a raised outlook for the full year 2023 for certain GAAP and Non-GAAP financial measures.
Tailwinds
- Net sales (GAAP) $3.84 billion to $4.03 billion
- Net sales growth at constant currency (Non-GAAP) +6% to +11%
- Net income (GAAP) $255 million to $290 million
- Adjusted EBITDA (Non-GAAP) $620 million to $670 million
- Net cash provided by operating activities (GAAP) $410 million to $510 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.5%
Avg return
Earnings day
+0.7%
Avg return
5 days after
-3.0%
Avg return
30 days after
41%
15 / 37 earnings
Positive
+24.9%
Q1 2026
Best reaction
-17.1%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +24.9% | +27.6% | +59.8% | |
| Q4 2025 | -6.5% | -1.6% | -17.6% | |
| Q3 2025 | +19.3% | +39.3% | +28.5% | |
| Q2 2025 | +1.4% | +2.7% | +3.1% | |
| Q1 2025 | +10.6% | +22.1% | +15.0% | |
| Q4 2024 | +5.2% | +6.3% | -3.6% | |
| Q3 2024 | -6.8% | -3.3% | +4.1% | |
| Q2 2024 | -3.9% | -2.4% | -8.6% | |
| Q1 2024 | -0.2% | -2.9% | -8.5% | |
| Q4 2023 | +13.6% | +11.5% | +13.5% | |
| Q3 2023 | -0.4% | -1.0% | +4.0% | |
| Q2 2023 | +8.1% | +6.0% | +7.4% | |
| Q1 2023 | -0.2% | +1.0% | -0.4% | |
| Q4 2022 | -1.4% | -0.9% | -16.2% | |
| Q3 2022 | +14.6% | +13.7% | +21.9% | |
| Q2 2022 | +0.3% | +2.4% | +10.5% | |
| Q1 2022 | +1.7% | +4.0% | -9.1% | |
| Q4 2021 | -0.4% | -2.2% | -1.3% | |
| Q3 2021 | +0.3% | +7.0% | +11.3% | |
| Q2 2021 | -9.1% | +1.4% | -2.0% | |
| Q1 2021 | +9.3% | +19.0% | +71.2% | |
| Q4 2020 | +4.1% | +1.4% | -21.2% | |
| Q3 2020 | +10.7% | +12.5% | +25.9% | |
| Q2 2020 | -17.1% | -19.2% | -53.5% | |
| Q1 2020 | -16.2% | -23.0% | -1.8% | |
| Q4 2019 | -3.5% | -5.1% | -53.8% | |
| Q3 2019 | +1.5% | -3.3% | +10.9% | |
| Q2 2019 | -4.9% | -13.2% | -34.0% | |
| Q2 2018 | -4.9% | -13.2% | -34.0% | |
| Q1 2018 | -4.2% | -5.5% | -17.5% | |
| Q1 2019 | -0.8% | -1.0% | -14.5% | |
| Q2 2017 | -3.4% | -8.4% | -12.0% | |
| Q1 2017 | -3.4% | -8.4% | -12.0% | |
| Q4 2018 | -2.8% | +0.3% | -9.8% | |
| Q3 2017 | -5.5% | -12.2% | -21.9% | |
| Q3 2018 | -5.5% | -12.2% | -21.9% | |
| Q4 2017 | -5.5% | -12.2% | -21.9% |
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