|Bid||6.27 x 800|
|Ask||6.72 x 800|
|Day's Range||6.28 - 6.92|
|52 Week Range||2.50 - 16.54|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||2.23|
|Earnings Date||May 11, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.10|
At this time, I'd like to hand the call over to Paul Blalock, VP of investor relations. Before we begin, I'd like to mention that today's presentation and press release are available on the Garrett Motion website at garrettmotion.com, where you will also find links to our SEC filings, along with other important information about Garrett. Turning to Slide 2, we note that this presentation contains forward-looking statements regarding our business, prospects, goals, strategies, anticipated financial performance, payments to Honeywell and the anticipated impact of the coronavirus on our business.
Garrett Motion (GTX) delivered earnings and revenue surprises of 584.62% and 13.22%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Garrett Motion Inc. (NYSE: GTX), a cutting-edge technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, today announced its financial results for the first quarter ended March 31, 2020.
Garrett Motion Inc. (NYSE: GTX), a cutting-edge technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, today announced it plans to issue financial results for the first quarter ended March 31, 2020 on Monday, May 11, 2020 before the opening of The New York Stock Exchange. Garrett will also hold a conference call the same day at 8:30 am Eastern Time / 2:30 pm Central European Time.
Garrett Motion Inc. (NYSE: GTX), a cutting-edge technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, today announced it has taken additional actions to confront the coronavirus pandemic.
Garrett Motion Inc. (NYSE: GTX), a cutting-edge technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, today announced the appointment of Jerome Stoll to its Board of Directors, effective immediately. With the appointment of Mr. Stoll, who will serve on the Company’s Nominating and Governance Committee, Garrett will have a total of eight Directors, of which seven are independent.
Garrett Motion Inc. (NYSE: GTX), a cutting-edge technology provider that enables vehicles to become safer, more connected, efficient and environmentally friendly, today announced its manufacturing plant in Wuhan, Hubei Province, China has restarted limited production effective March 16, 2020 in accordance with local ordinances.
Unfortunately for some shareholders, the Garrett Motion (NYSE:GTX) share price has dived 30% in the last thirty days...
There's been a notable change in appetite for Garrett Motion Inc. (NYSE:GTX) shares in the week since its annual...
The nature of investing is that you win some, and you lose some. And unfortunately for Garrett Motion Inc. (NYSE:GTX...
Garrett Motion (GTX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg Opinion) -- There’s no clearer sign we’ve reached peak breakup in industrials than a pure-play transportation and logistics company blaming a “conglomerate discount” for its decision to consider cleaving itself into smaller pieces.XPO Logistics Inc. confirmed late Wednesday that it was exploring strategic alternatives including the possible sale or spinoff of one or more of its units. The review could see businesses that generate as much as 75% of XPO’s revenue jettisoned, with the European, North American and Asia-Pacific supply-chain operations and its European and North American transportation arms all potentially on the block, people familiar with the matter told Bloomberg News. That would leave XPO with its North American short-haul trucking business. XPO CEO Brad Jacobs told Bloomberg TV he’s exploring breakup options because the company is suffering from a “conglomerate discount” and “Wall Street understands pure plays.”Those are in-vogue words right now for industrial CEOs after an unprecedented wave of breakups. But the majority of those splits involved businesses that had little or only tenuous connections to each other – think the separation of Ingersoll-Rand Plc’s golf cart, tools and pumps business from its HVAC division, or United Technologies Corp.’s breakup of its aviation, climate and elevator businesses. Even controversial breakups such as Honeywell International Inc.’s spinoff of its Resideo Technologies Inc. thermostat and Garrett Motion Inc. turbochargers businesses, or Fortive Corp.’s plan to carve out its legacy industrial products, involved divisions that clearly didn’t fit. XPO is splitting the hairs much more finely. According to its most recent annual filing, the company gets 65% of its revenue from transportation and 35% from logistics.All the same, the market clearly does love this move. The stock climbed more than 10% on the news, with some of that likely reflecting a squeeze on short sellers who have a 13.1% interest in shares outstanding, according to Markit. Citigroup Inc. analyst Christian Wetherbee estimated a breakup could add as much as $66 a share to XPO’s equity value. And that’s likely appealing for investors looking for a story to bet on amid generally elevated valuations elsewhere in industrial stocks. But it’s hard not to view this breakup plan as a waving of the white flag for a company that was built via consolidation but has struggled of late to get deals done. XPO hasn’t announced a major acquisition since 2015, despite Jacobs’s exclamation in 2017 that he was ready to spend up to $8 billion. Last year, XPO said it would pivot away from M&A and plow billions into share buybacks instead. That helped drive XPO shares to a 40% gain in 2019, despite a recession in freight markets.With its debt levels rising and little in the way of real earnings growth, keeping the party going presented a challenge. Jacobs laid out a plan in August to add as much as $1 billion of profit by 2022 via cost cuts and new business. Bloomberg Intelligence analyst Lee Klaskow, who noted at the time that such a push carried significant execution risk, says the breakup may be a sign that XPO had already squeezed all it could from the business as far as operating improvements and technology investments.The point of all of XPO’s M&A activity was to wring costs out of the combined operations and gain more negotiating clout with suppliers. Jacobs told Bloomberg TV that XPO’s combination of businesses had helped it add more than $2 billion of revenue organically. “We actually will lose some bargaining power as smaller companies with vendors because we won’t have the global procurement capability,” Jacobs said. But he thinks smaller, more agile businesses will be more appealing to both customers and shareholders.When a CEO is talking out of two sides of his mouth, it sure sounds like financial engineering.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Many global auto suppliers are striking an even more pessimistic tone about Chinese vehicle output this year than some research firms, with the suppliers bracing for the pain to be far greater than the single-digit percentage declines predicted by some in the industry. There have been 12 straight months of falling sales in the world's largest automotive market, and demand in China is expected to decline for the second straight full year. Fiat Chrysler Automobiles <FCHA.MI> on Wednesday cut its China industry sales outlook by 4%.