Garrett Motion Reports Strong Third Quarter 2026 Results and Announces $250 Million Share Repurchase Program for 2027
Key Highlights
- ➤Q3 net sales $930 million, up 3% on a constant currency basis
- ➤Adjusted EBIT $152 million, up from $133 million year over year
- ➤Adjusted free cash flow $136 million, up from $107 million year over year
- ➤2027 share repurchase program authorizes up to $250 million
- ➤Garrett reaffirmed 2026 full-year mid-point outlook across key metrics
Expert Statements
Olivier Rabiller, President and CEO of Garrett Motion
“Our third quarter results reflect the strength of Garrett’s differentiated portfolio, disciplined execution and ability to grow ahead of the industry.”
Olivier Rabiller, President and CEO of Garrett Motion
“We continued to secure new business in turbo, support growing demand for industrial applications and advance our zero emission technologies, while delivering strong profitability and cash flow.”
Olivier Rabiller, President and CEO of Garrett Motion
“With this continued momentum we reaffirm our 2026 mid-point outlook, offsetting unfavorable foreign exchange, and remain focused on delivering long-term value for our shareholders.”
Third Quarter 2026 Financial Highlights * Net sales totaled $930 million, up 3% on a constant currency* basis vs prior year, driven by strong performance in commercial vehicle and industrial * Net income totaled $97 million; net income margin of 10.4% * Adjusted EBIT* totaled $152 million; adjusted EBIT margin* of 16.3% * Net cash provided by operating activities totaled $135 million * Adjusted free cash flow* totaled $136 million * Reaffirming 2026 full-year mid-point outlook Third Quarter 2026 Business Highlights * Continued growth in industrial above previous expectations * Secured multiple turbo wins, including several light vehicle programs for both China domestic and export * Secured several on- and off-highway commercial vehicle applications across all regions * Secured a production award for industrial E-Cooling compressor in Asia * E-Powertrain and E-Cooling compressor on track for start of production in 2027 PLYMOUTH, Mich. and ROLLE, Switzerland, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) (“Garrett” or the “Company”), a leading automotive and industrial technology provider, today announced its financial results for the three months ended September 30, 2026. Additionally, the Company’s Board of Directors approved a new share repurchase program for calendar year 2027, authorizing the Company to repurchase up to $250 million of common stock, and declared a cash dividend of $0.08 per share of common stock, payable on December 15, 2026, to shareholders of record as of December 1, 2026. The Company also executed a $50 million voluntary early debt repayment on its Term Loan in October.
Get started
Create a free account to read the full story.