Garrett Motion Reports Second Quarter 2019 Financial Results
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Garrett Motion (GTX) Misses Q2 EPS by 6c, Revenues Miss; Revises FY19 Net Sales Growth & Adj. EBITDA Outlook
July 30, 2019 7:09 AM EDTGarrett Motion (NYSE: GTX) reported Q2 EPS of $0.86, $0.06 worse than the analyst estimate of $0.92. Revenue for the quarter came in at $802 million versus the consensus estimate of $831.8 million.
Second Quarter 2019 Highlights
Net sales totaled $802 million; down 8.6% reported and 3.9% organically*Net income totaled $66 million, or basic and diluted earnings per share of $0.88 and $0.86, respectivelyAdjusted EBITDA* decreased 7.8% to $154 millionAdjusted EBITDA margin* increased to 19.2%Net debt* totaled $1,416 million at June 30, 2019Revised 2019 guidance driven by... More