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Mar 31, 2020
Garrett Motion Q1 2020 Earnings Report
Garrett Motion's financial performance was announced for Q1 2020, revealing a decrease in net sales but demonstrating resilience through cost management and operational adjustments.
Key Takeaways
Garrett Motion reported a decrease in net sales of 10.8% to $745 million in Q1 2020. Net income was $52 million, or $0.68 per diluted share. The company focused on cost management and maintaining liquidity in response to the COVID-19 pandemic.
Net sales totaled $745 million, a decrease of 10.8% on a reported basis.
Net income totaled $52 million, or $0.68 per diluted share.
Adjusted EBITDA decreased to $108 million, with an Adjusted EBITDA margin of 14.5%.
Adjusted free cash flow totaled $57 million, with an adjusted free cash flow conversion of 84%.
Garrett Motion
Garrett Motion
Forward Guidance
Garrett Motion withdrew its full year 2020 guidance issued on February 27, 2020 due to the highly uncertain operating environment caused by COVID-19.