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Dec 31, 2021
Garrett Motion Q4 2021 Earnings Report
Garrett Motion's Q4 2021 earnings decreased compared to Q4 2020, but the Adjusted EBITDA margin improved.
Key Takeaways
Garrett Motion reported Q4 2021 net sales of $862 million, a 14% decrease compared to Q4 2020. Net income was $128 million, while adjusted EBITDA was $129 million, with an adjusted EBITDA margin of 15.0%. Adjusted free cash flow totaled $151 million, with a conversion rate of 194%.
Net sales totaled $862 million, down 14% on a GAAP basis and 13% at constant currency.
Net income totaled $128 million; Adjusted net income was $78 million.
Adjusted EBITDA totaled $129 million; Adjusted EBITDA margin improved to 15.0%.
Adjusted free cash flow totaled $151 million; Adjusted free cash flow conversion rate was 194%.
Garrett Motion
Garrett Motion
Forward Guidance
Garrett is providing the following outlook for the full year 2022 for certain GAAP and Non-GAAP financial measures.Net sales (GAAP)$3.7 billion to $4.0 billionNet sales growth at constant currency (Non-GAAP)*4% to 13%Net income (GAAP)$295 million to $340 millionAdjusted EBITDA (Non-GAAP)*$590 million to $650 millionNet cash provided by operating activities (GAAP)$485 million to $585 millionAdjusted free cash flow (Non-GAAP)*$400 million to $500 million