Garrett Motion Inc. reported net sales of $930 million for the third quarter of 2026, marking a 3% increase from the same period in 2025. The company's robust performance was largely driven by growth in commercial vehicle and industrial sectors.
The company's net income rose to $97 million, up from $77 million in Q3 2025, reflecting improved profitability amid challenging market conditions. Additionally, Garrett's Board of Directors has approved a $250 million share repurchase program for 2027.
Financial and Operational Highlights
- Adjusted EBIT reached $152 million, with a margin of 16.3%.
- Net cash from operating activities totaled $135 million.
- The company declared a cash dividend of $0.08 per share, payable on December 15, 2026.
Olivier Rabiller, President and CEO of Garrett, stated, "Our third quarter results reflect the strength of Garrett’s differentiated portfolio, disciplined execution and ability to grow ahead of the industry."
Garrett's success in securing multiple contracts across various regions, particularly in turbo applications and e-cooling technologies, underscores its strategic focus on innovation and sustainability.
The approved share repurchase program, which is set to commence on January 1, 2027, aligns with Garrett's goal of enhancing shareholder value. This move follows a $57 million stock buyback in Q3 2026, demonstrating the company's commitment to returning capital to shareholders.
With $841 million in available liquidity and a focus on long-term growth, Garrett is poised to navigate the evolving automotive landscape while delivering sustained value to its investors.
Looking Ahead
Garrett maintains its mid-point outlook for the full year 2026, projecting net sales between $3.75 billion and $3.85 billion, as it adapts to the changing dynamics of the automotive market.