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Investing.com- Garrett Motion Inc. (NASDAQ:GTX) reported fourth-quarter 2024 earnings on Thursday that exceeded analyst expectations, while revenue fell short of estimates.
The company also issued full-year 2025 guidance below consensus forecasts.
Garrett Motion reported fourth-quarter adjusted earnings per share of $0.47, surpassing the analyst estimate of $0.31 by $0.16. However, revenue for the quarter came in at $844 million, missing the consensus estimate of $905.5 million and declining 11% YoY on a reported basis, or 10% at constant currency.
For the full year 2024, Garrett Motion reported net sales of $3.475 billion, down 11% on a reported basis and 10% at constant currency compared to the previous year. The company’s net income for 2024 totaled $282 million, with a net income margin of 8.1%.
Looking ahead, Garrett Motion provided guidance for fiscal year 2025, projecting revenue between $3.3 billion and $3.5 billion. This outlook falls below the analyst consensus of $3.6 billion, suggesting potential headwinds in the coming year.
The company’s 2025 outlook is based on expectations of flat to slightly declining light vehicle industry production and minimal growth in the commercial vehicle industry.
Garrett Motion also anticipates an average light vehicle battery electric vehicle penetration of 16% in 2025.
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