Garrett Motion (GTX) Misses Q3 EPS by 30c, Revenues Beat; Lowers FY19 Adj. EBITDA Outlook
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Garrett Motion Reports Third Quarter 2019 Financial Results
November 8, 2019 7:00 AM ESTThird Quarter 2019 Highlights
Net sales totaled $781 million, a decrease of 0.4% on a reported basis and an increase of 2.8% organically* Net income totaled $38 million, or basic and diluted earnings per share of $0.51 and $0.50, respectively Adjusted EBITDA* decreased 2.9% to $133 million; Adjusted EBITDA margin* decreased to 17.0% Adjusted Levered Free Cash Flow* totaled $102 million Total Debt reduced by $87 million to $1,511 million at September 30, 2019 Net Debt* reduced by $95 million to $1,321 million at September 30, 2019 Reiterated 2019 guidance for organic net sales and Adjusted Levered Free Cash Flow conversion; revised full-year outlook for Adjusted... More