Garrett Motion's Q3 Earnings Surpass Estimates, Touts 'Ramp-Up Of New Products'
Portfolio Pulse from Nabaparna Bhattacharya
Garrett Motion Inc. reported Q3 FY23 sales of $960 million, missing the Street expectation of $995 million. However, its quarterly EPS of 23 cents beat the consensus of $0.22. The company benefitted from foreign currency translational impacts and the ramp-up of new products. The company lowered its full-year 2023 outlook, expecting sales in the range of $3.83 billion-$3.90 billion versus the estimate of $4 billion. GTX shares are trading 5.70% higher at $7.60.
October 24, 2023 | 2:30 pm
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Garrett Motion's Q3 sales missed expectations but its EPS beat the consensus. The company also lowered its full-year 2023 outlook. Despite this, GTX shares are trading higher.
Garrett Motion's Q3 sales missed expectations, which could have a negative impact on the stock. However, the company's EPS beat the consensus, which is a positive signal. The company also lowered its full-year 2023 outlook, which could be seen as a negative signal. Despite these mixed signals, GTX shares are trading higher, indicating that the market may be focusing more on the positive EPS beat.
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IMPORTANCE 80
RELEVANCE 100