NASDAQ$GTX
Garrett Motion Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported a strong rebound across all regions and product lines, with net sales up 4% on a GAAP basis and 15% at constant currency. Adjusted EBITDA margin was 15.6%.
Garrett Motion reported fourth-quarter net sales of $898 million, a 4% increase on a GAAP basis and a 15% increase at constant currency. Net income was $112 million, with an adjusted EBITDA of $140 million. The company expects to profitably grow share of demand and generate strong free cash flow in 2023.
- Net sales totaled $898 million, up 4% on a GAAP basis, up 15% at constant currency
- Net income totaled $112 million; Net income margin 12.5%
- Adjusted EBITDA totaled $140 million; Adjusted EBITDA margin of 15.6%
- Net cash provided by operating activities totaled $137 million
Headline financials
Revenue & EPS history
Garrett Motion · Revenue · Quarterly
$898M
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 the following outlook for the full year 2023 for certain GAAP and Non-GAAP financial measures. Full Year 2023 OutlookNet sales (GAAP)$3.55 billion to $3.85 billion Net sales growth at constant currency (Non-GAAP)*+1% to +6%Net income (GAAP)$255 million to $300 million Adjusted EBITDA (Non-GAAP)*$555 million to $615 million Net cash provided by operating activities (GAAP)$390 million to $490 million Adjusted free cash flow (Non-GAAP)*$300 million to $400 million
Tailwinds
- 2023 light vehicle industry production in line with 2022
- 2023 Euro/dollar assumption of 1.05 EUR to 1.00 USD flat to 2022
- R&D investment at 4.6% of sales in 2023 flat to 2022, >50% on electrification technologies
- Capital expenditures at 2.4% of sales, 20% into electrification technologies
- 2023 assumed volume of 14 million units reflecting share-of-demand increases
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 Q4 2022
+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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