Garrett Motion (GTX) Surpasses Q2 Earnings Estimates

Core Viewpoint - Garrett Motion reported quarterly earnings of $0.42 per share, exceeding the Zacks Consensus Estimate of $0.37 per share, and showing an increase from $0.28 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was +13.51%, with the company previously expected to post earnings of $0.29 per share but actually reporting $0.30 per share, resulting in a surprise of +3.45% [2] - Revenues for the quarter were $913 million, slightly missing the Zacks Consensus Estimate by 0.55%, compared to $890 million in the same quarter last year [3] - Over the last four quarters, the company has surpassed consensus EPS estimates three times and topped revenue estimates two times [2][3] Stock Performance - Garrett Motion shares have increased approximately 30.6% since the beginning of the year, outperforming the S&P 500's gain of 8.1% [4] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations for it to outperform the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.35 on revenues of $870 million, and for the current fiscal year, it is $1.31 on revenues of $3.52 billion [8] - The outlook for the automotive industry, where Garrett Motion operates, is favorable, with the industry currently ranking in the top 39% of over 250 Zacks industries [9]