Garrett Lowers FY24 Net Sales Guidance From $3.80B-$3.95B To $3.50B-$3.65B vs $3.86B Est., Lowers FY24 Adjusted EBITDA Guidance From $590M-$650M To $583M-$633M
Portfolio Pulse from Benzinga Newsdesk
Garrett Motion Inc. has lowered its FY24 net sales guidance from $3.80B-$3.95B to $3.50B-$3.65B, compared to the $3.86B estimate. Additionally, the company has reduced its FY24 adjusted EBITDA guidance from $590M-$650M to $583M-$633M.
July 25, 2024 | 11:00 am
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Garrett Motion Inc. has revised its FY24 net sales and adjusted EBITDA guidance downwards. The new net sales guidance is $3.50B-$3.65B, down from $3.80B-$3.95B, and the adjusted EBITDA guidance is now $583M-$633M, down from $590M-$650M.
The downward revision in both net sales and adjusted EBITDA guidance indicates potential challenges in Garrett Motion's business performance. This is likely to negatively impact investor sentiment and the stock price in the short term.
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