Garrett Motion Inc
For the period ended Sep 30, 2024. Filed Oct 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 24, 2024
GTX$20.68-0.3%Stored close · as of Nov 10, 2026
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Consolidated Interim Statements of Operations (Unaudited)
CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (Dollars in millions, except per share amounts) | ||||
| Net sales (Note 3) | $826 | $960 | $2,631 | $2,941 |
| Cost of goods sold | 660 | 784 | 2,108 | 2,374 |
| Gross profit | 166 | 176 | 523 | 567 |
| Selling, general and administrative expenses | 53 | 59 | 178 | 178 |
| Other expense, net | 1 | 1 | 5 | 3 |
| Interest expense | 37 | 48 | 130 | 104 |
| Gain on sale of equity investment (Note 21) | — | — | (27) | — |
| Non-operating (income) expense | (1) | (2) | (7) | 3 |
| Income before taxes | 76 | 70 | 244 | 279 |
| Tax expense (Note 5) | 24 | 13 | 62 | 70 |
| Net income | 52 | 57 | 182 | 209 |
| Less: preferred stock dividends | — | — | — | (80) |
| Less: preferred stock deemed dividends | — | — | — | (232) |
| Net income (loss) available for distribution | $52 | $57 | $182 | $(103) |
| Earnings (loss) per common share | ||||
| Basic | $0.24 | $0.23 | $0.80 | $(0.73) |
| Diluted | 0.24 | 0.23 | 0.80 | (0.73) |
| Weighted average common shares outstanding | ||||
| Basic | 217,283,749 | 250,888,716 | 226,057,803 | 141,745,701 |
| Diluted | 218,403,681 | 252,381,719 | 227,649,747 | 141,745,701 |
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