Garrett Motion

Garrett Motion beat expectations in the second quarter with revenue of $976 million and adjusted earnings per share of $0.53; the adjusted EBIT margin rose 200 basis points to 15.6%. The company raised its 2026 revenue forecast to $3.7–3.9 billion and net income to $300–360 million and announced a quarterly dividend of $0.08. Several new large orders, including a turbocharger program in North America and orders for Garrett‑MEG and industrial air compression, supported the positive market reaction (premarket +3.6%). » More on de.investing.com

Garrett Motion has appointed Dave Crompton to its board of directors. Crompton is executive chair and co‑founder of Pioneer Clean Fleet Solutions, was president and CEO of Achates Power and has more than 40 years of experience in commercial vehicles, industry and energy, including 28 years at Cummins in senior roles. Garrett Motion develops technologies for turbocharging and electrification and operates multiple R&D centers and manufacturing sites with over 8,700 employees. » More on de.investing.com

Garrett Motion stock rose to a record high of $35.45, bringing market capitalization to $6.59 billion; the stock posted a total return of 239% over the past year. InvestingPro classifies the stock as overvalued but notes a low P/E relative to short-term earnings growth and a PEG of 0.58. At the annual general meeting, eight directors were elected; the company also refinanced a loan maturing in 2032 for $635 million, including an early repayment of $50 million and a 25 basis-point reduction in interest. Analysts raised price targets (Northland $34, BWS $42, Stifel $36) and pointed to revenue targets above 5% per year as well as a strategic partnership with Ingersoll Rand. » More on de.investing.com