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Dec 31, 2019
Garrett Motion Q4 2019 Earnings Report
Garrett Motion's Q4 2019 financial results reflected continued outperformance over global auto production and a focus on strengthening the company's balance sheet.
Key Takeaways
Garrett Motion Inc. reported a 3.9% increase in net sales to $830 million for Q4 2019. Net income was $136 million, or $1.79 per diluted share. Adjusted EBITDA decreased slightly to $137 million, with a margin of 16.5%. The company reduced net debt and focused on rebalancing its portfolio.
Net sales increased by 3.9% to $830 million, or 6.2% at constant currency.
Net income totaled $136 million, or $1.79 per diluted share.
Adjusted EBITDA decreased 1.4% to $137 million, with an Adjusted EBITDA margin of 16.5%.
Net debt to consolidated EBITDA ratio lowered to 2.74x at December 31, 2019.
Garrett Motion
Garrett Motion
Forward Guidance
Garrett provided its initial outlook for the full year 2020, reflecting the expected effects of the novel coronavirus and the rebalancing of light vehicle products. Global light vehicle and commercial vehicle production are expected to decline.