Earnings Releases·Oct 29, 2026, 6:57 AM ET

Garrett Motion — Third Quarter 2026 Earnings Summary

**Financial Performance:** Q3 2026 net sales rose 3% to $930 million, while net income, adjusted EBIT, and adjusted EBITDA increased to $97 million, $152 million, and $183 million respectively, driven by strong commercial vehicle and industrial demand offsetting gasoline segment softness in China.
**Guidance and Outlook:** The company reaffirmed its 2026 full-year outlook with a narrowed net sales range of $3.75–$3.85 billion and adjusted EBIT guidance of $570–$590 million, citing growth ahead of the industry despite 2%–4% projected declines in light vehicle production.
**Capital Allocation and Balance Sheet:** Management executed a $50 million voluntary debt repayment and $57 million in stock repurchases during the quarter, while the Board approved a new $250 million share repurchase program for 2027 and declared a $0.08 per share dividend.
**Strategic Progress:** The portfolio secured multiple new turbo and commercial vehicle applications globally, with E-Powertrain and E-Cooling compressor programs on track for 2027 production start, contributing to a 10.4% net income margin and $136 million in adjusted free cash flow.