GTX - Garrett Motion expects to meet upper end of 2023 outlook
2023-04-04 07:32:50 ET
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Garrett Motion ( NASDAQ: GTX ) expects to achieve upper end of FY 2023 outlook.
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The company iterated 2023 outlook in its Q4 results , expects net sales $3.55B-3.85B and net income $255M-300M.
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YTD better than expected financial performance has been primarily driven by strong industry volumes in key regions, successful ramp-up of new programs, operational excellence, and favorable foreign exchange.
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The only remaining condition to conversion would be the achievement of a 75-day VWAP of greater than $7.875 on the common share price. The 75-day VWAP as of March 31, 2023 was $7.70.
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Stock gets a Buy rating from sell-side analyst and a Quant rating of Hold .
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Garrett Motion expects to meet upper end of 2023 outlook