Garrett's Q3: Record Sales, Green Tech, & Dividend Boost

Garretts Q3 earnings soar with net sales at $902M, up 6% at constant currency, beating industry on light vehicle turbos. Gasoline sales surged 10% due to demand gains, with adjusted EBIT at $133M and a 14.7% margin. They generated $107M in adjusted free cash flow. Volumes increased across key markets, with diesel holding strong in Europe and North America. Tariff recoveries and foreign currency boosted results, though product mix took a slight hit. Year-to-date cash flow reached $264M, fueling tech investments. Shareholder returns included $84M in share repurchases and a $12M dividend, with ratings upgrades and liquidity at $862M. They prepaid $50M on their term loan. Looking ahead, Garrett raised their 2025 outlook midpoint to $3.55B in net sales, with adjusted EBIT at $510M and free cash flow at $385M. Zero-emission tech progress and stationary power sales growth position Garrett for growth through turbos and green tech. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/787b88af16b4431e