Garrett Motion to Hold Fourth Quarter 2024 Financial Results Conference Call on Thursday February 20, 2025PLYMOUTH, Mich. and ROLLE, Switzerland, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading provider of differentiated automotive technology, today announced that it plans to release its fourth quarter financial results on Thursday, February 20, 2025, prior to the opening of the market trading in the United States.
Garrett Motion Announces Term Loan and Revolving Credit Facility Refinancing and ExtensionPLYMOUTH, Mich. and ROLLE, Switzerland, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) ("Garrett" or the "Company"), a leading differentiated automotive technology provider, today announced that it has successfully refinanced its existing $692 million term loan, and refinanced and upsized its existing $600 million revolving credit facility to $630 million. Borrowings under each of the new facilities will initially bear interest at the Secured Overnight Financing Rate (SOFR) plus 225 basis points per annum, which represents a 50-basis point reduction from the existing facilities. The new term loan will mature in 2032, effectively extending the maturity of the Company's existing term loan by approximately four years, and the new revolving credit facility will mature in 2030, effectively extending the maturity date of the Company’s existing revolving credit facility by approximately two years.
Garrett Motion Announces Long-Term Capital Allocation Framework, Including New Quarterly Dividend and $250M Share Repurchase Program for 2025ROLLE, Switzerland and PLYMOUTH, Mich., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) ("Garrett" or the "Company"), a leading differentiated automotive technology provider, today announced the adoption of a long-term capital allocation framework, under which the Company will target returning 75% or more of its Adjusted Free Cash Flow to shareholders over time through a combination of share repurchases and a regular quarterly cash dividend. As part of this framework, the Company’s Board of Directors has approved a new dividend policy, pursuant to which the Board intends to declare and pay quarterly dividends on its common stock in an aggregate amount of approximately $50 million in 2025. The Board has declared the first quarter 2025 cash dividend on the Company’s outstanding common stock of $0.06 per share payable January 31, 2025, to all common shareholders of record as of the close of business on January 15, 2025. The Board has also approved a new share repurchase program for 2025, pursuant to which the Company may repurchase up to $250 million of its common stock throughout the course of the year.
Gabelli Funds to Host 48th Annual Automotive Symposium at The Encore at Wynn, Las Vegas, NevadaGREENWICH, Conn., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Gabelli Funds will host its 48th Annual Automotive Symposium on November 4th and 5th, 2024 at the Encore at Wynn in Las Vegas, Nevada. This two-day symposium will feature presentations by senior managements of leading automotive and trucking companies, with a lineup that enables investors to understand ever-changing dynamics within the automotive industry.
A pioneer move for Electric Commercial Vehicles: Garrett and SinoTruk sign Letter of Intent to bring leading high-speed electrified powertrain to E-trucksROLLE, Switzerland and PLYMOUTH, Mich., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (
NYSEGTX) and China National Heavy Duty Truck Group Co., Ltd. (SinoTruk) signed a Letter of Intent (LoI) to enhance cooperation in advanced technologies for electric commercial vehicles, aiming to jointly develop leading next-generation E-powertrain for application in SinoTruk's product portfolio, with the aim of joining forces to start mass production of trucks equipped with this next gen E-powertrain by 2027.
Garrett expands its innovation footprint with new zero-emission R&D center in Wuhan, ChinaROLLE, Switzerland and PLYMOUTH, Mich., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (
NASDAQGTX), a global leader in automotive technology, announced today the establishment of a new zero-emission innovation center in Wuhan, China.
Gabelli Funds to Host 48th Annual Automotive Symposium at The Encore at Wynn, Las Vegas, NevadaGREENWICH, Conn., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Gabelli Funds will host its 48th Annual Automotive Symposium on November 4th and 5th, 2024 at the Encore at Wynn in Las Vegas, Nevada. This two-day symposium will feature presentations by senior managements of leading automotive and trucking companies, with a lineup that enables investors to understand ever-changing dynamics within the automotive industry.
Garrett Motion to Hold Third Quarter 2024 Financial Results Conference Call on Thursday October 24, 2024ROLLE, Switzerland and PLYMOUTH, Mich., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the third quarter 2024 on Thursday, October 24, 2024, before the open of market trading in the United States.
Garrett Motion to Hold Second Quarter 2024 Financial Results Conference Call on Thursday July 25, 2024ROLLE, Switzerland, July 11, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the second quarter 2024 on Thursday, July 25, 2024, before the open of market trading.
Garrett Motion Inc. Announces Upsizing and Pricing of Private Offering of $800 Million of Senior Notes Due 2032ROLLE, Switzerland, May 07, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) (the “Company”) announced today that Garrett Motion Holdings Inc. and Garrett LX I S.à r.l., its wholly owned subsidiaries, have priced their previously announced offering (the “Offering”) and have agreed to issue and sell $800 million aggregate principal amount of their 7.750% senior unsecured notes due 2032 (the “notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of the Offering of the notes was increased from the previously announced Offering size of $500 million aggregate principal amount of notes. The notes will be sold to investors at 100.00% plus accrued interest, if any, from May 21, 2024. The closing of the Offering of the notes is expected to occur on or about May 21, 2024, subject to customary closing conditions.
Garrett Motion Inc. Announces Proposed Private Offering of $500 Million of Senior Notes Due 2032ROLLE, Switzerland, May 06, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) (the “Company”) announced today that Garrett Motion Holdings Inc. and Garrett LX I S.à r.l., its wholly owned subsidiaries, are planning, subject to market and other customary conditions, to offer (the “Offering”) $500 million aggregate principal amount of senior unsecured notes due 2032 (the “notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The notes will be fully and unconditionally guaranteed by the Company and each of the Company’s wholly owned restricted subsidiaries that guarantees the Company’s senior secured credit facilities.
Garrett Motion to Hold First Quarter 2024 Financial Results Conference Call on Thursday April 25, 2024ROLLE, Switzerland, April 11, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the first quarter 2024 on Thursday, April 25, 2024, before the open of market trading.
Paul A. Camuti Appointed to Board of Directors of Garrett Motion Inc.ROLLE, Switzerland, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX) (the “Company”), a leading differentiated automotive technology provider, today announced the appointment of Paul A. Camuti to its Board of Directors.
Garrett Motion to Hold Fourth Quarter and Full Year 2023 Financial Results Conference Call on Thursday February 15, 2024ROLLE, Switzerland, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the fourth quarter and full year 2023 on Thursday, February 15, 2024 before the open of market trading.
Garrett Motion, Global Leader in Turbochargers, Launches Online Marketplace for Racing EnthusiastsROLLE, SWITZERLAND / ACCESSWIRE / December 11, 2023 / Garrett Motion (
NASDAQGTX), a leader in differentiated technologies for the automotive industry, announced that Garrett Performance launched an advanced e-commerce platform, Garrett Marketplace. This effort is the result of racing enthusiasts' long-time demand for direct access to its engineering prowess via an online retail experience. Garrett Marketplace is available in the United States and will be launched in Europe and Australia in 2024.
Garrett Motion to Hold Third Quarter 2023 Financial Results Conference Call on Tuesday October 24, 2023ROLLE, Switzerland, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a leading differentiated automotive technology provider, today announced it plans to issue financial results for the third quarter 2023 on Tuesday, October 24, 2023 before the open of market trading.
Garrett Motion to Hold Second Quarter 2023 Financial Results Conference Call on Thursday July 27, 2023ROLLE, Switzerland, July 10, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, today announced it plans to issue financial results for the second quarter 2023 on Thursday, July 27, 2023 before the open of market trading.
Garrett Motion Converts Series A Preferred Stock Into Common StockROLLE, Switzerland, June 13, 2023 (GLOBE NEWSWIRE) -- Garrett Motion Inc. (Nasdaq: GTX), a differentiated technology leader for the automotive industry, announced today the conversion of the Company’s Series A Preferred Stock into a single class of Common Stock, simplifying the Company’s capital structure and setting the stage for greater market capitalization, enhanced liquidity, a path to index inclusion, and a more diversified shareholder base.
