Quarterly ResultApr 30, 2026, 06:57 AM
GTX Q1 Net Sales +12% to $985M; Raises 2026 Outlook; Declares $0.08 Dividend
AI Summary
Garrett Motion Inc. reported strong first-quarter 2026 financial results, with net sales increasing 12% to $985 million and net income reaching $95 million. The company also raised its full-year 2026 outlook for net sales, net income, Adjusted EBIT, and free cash flow, citing disciplined execution and strong volume conversion. Additionally, Garrett declared a cash dividend of $0.08 per share and repurchased $87 million of common shares during the quarter.
Key Highlights
- GTX Q1 2026 net sales rose 12% to $985 million (6% constant currency) vs prior year.
- Net income increased to $95 million (9.6% margin) from $62 million in Q1 2025.
- Adjusted EBIT grew to $151 million (15.3% margin) from $131 million in Q1 2025.
- Board declared a cash dividend of $0.08 per share, payable June 15, 2026.
- Company repurchased $87 million of common shares in Q1 2026.
- Raised 2026 full-year net sales outlook to $3.6B-$3.9B (prior: $3.6B-$3.8B).
- Secured new light vehicle turbo programs and commercial vehicle E-Powertrain awards.
- Net cash provided by operating activities totaled $98 million; Adjusted free cash flow was $49 million.