Garret Motion shares are trading lower after the company reported worse-than-expected Q3 sales results and issued FY24 net sales guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Garret Motion's shares declined following disappointing Q3 sales results and lower-than-expected FY24 net sales guidance.
October 24, 2024 | 12:20 pm
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NEGATIVE IMPACT
Garret Motion reported Q3 sales that were below expectations and issued FY24 net sales guidance that also fell short of estimates, leading to a decline in its share price.
The company's Q3 sales results were worse than expected, which typically leads to a negative market reaction. Additionally, the FY24 guidance being below estimates suggests potential future challenges, further impacting investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100