Quarterly ResultApr 30, 2026, 07:02 AM
GTX Q1 Net Sales +12.2% to $985M; Net Income +53.2% to $95M; EPS $0.50
AI Summary
Garrett Motion Inc. reported strong financial results for the first quarter of 2026, with net sales increasing 12.2% to $985 million and net income surging 53.2% to $95 million. Basic earnings per share also saw a significant rise to $0.50. The company generated $98 million in net cash from operating activities and continued its share repurchase program, buying back $87 million of common stock during the quarter. Additionally, Garrett Motion paid $16 million in dividends and confirmed compliance with all debt covenants.
Key Highlights
- Net sales increased 12.2% to $985 million for Q1 2026, up from $878 million in Q1 2025.
- Net income rose 53.2% to $95 million in Q1 2026, compared to $62 million in Q1 2025.
- Basic earnings per common share increased to $0.50 in Q1 2026 from $0.30 in Q1 2025.
- Gross profit for Q1 2026 was $196 million, an increase from $179 million in Q1 2025.
- Net cash provided by operating activities was $98 million in Q1 2026, up from $56 million in Q1 2025.
- The company repurchased $87 million of Common Stock in Q1 2026, with $163 million remaining under the program.
- Quarterly dividends paid were $16 million ($0.08 per share) in Q1 2026, up from $12 million ($0.06 per share) in Q1 2025.
- Garrett Motion Inc. was in compliance with all covenants under its 2032 Senior Notes indenture and Credit Agreement as of March 31, 2026.
Price Impact
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