Garrett Motion (GTX) Gets 33% Boost from Stellar Earnings

Core Insights - Garrett Motion Inc. (NASDAQ:GTX) experienced a significant stock price increase of 33.25% week-on-week, reaching an all-time high of $17.05 before closing at $16.99, driven by strong earnings performance and an optimistic growth outlook [1][2] Financial Performance - The company reported a 48% increase in net income, rising to $77 million from $52 million year-on-year, attributed to a $20 million increase in gross profit, an $8 million reduction in interest costs, and a $2 million rise in non-operating income [2] - Net sales grew by 9.2% to $902 million from $826 million, primarily due to increased demand for gasoline and diesel, favorable currency impacts, and recoveries from enacted import tariffs [2] Future Projections - Following the positive earnings report, Garrett Motion raised its full-year net income projection to a range of $265 million to $295 million, up from the previous estimate of $233 million to $278 million [2] - The net sales projection was also upgraded to a range of $3.5 billion to $3.6 billion, compared to the prior range of $3.4 billion to $3.6 billion [2]