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Why Garrett Motion Stock Skyrocketed Today
Yahoo Financeยท 2025-10-23 22:25
Core Insights - Garrett Motion's stock surged 19.3% following a strong third-quarter report, outperforming the S&P 500 and Nasdaq Composite [1][4] Financial Performance - The company reported earnings per share of $0.38 on sales of $902 million for Q3, exceeding Wall Street estimates of $0.33 per share and $866.2 million in revenue [4] - Revenue increased by 9.2% year over year [4] Dividend and Guidance - Garrett Motion announced a quarterly dividend increase to $0.08 per share, marking a 33% rise [4] - The company raised its full-year revenue guidance to between $3.5 billion and $3.6 billion, up from a previous range of $3.4 billion to $3.6 billion [5] - Net income guidance was also increased to between $265 million and $295 million, surpassing the prior target of $233 million to $278 million [5] Market Sentiment - Investors are optimistic about Garrett Motion's outlook due to better-than-expected sales and margin strength [6]