Garrett Motion Inc.'s stock soared 14.26% during intraday trading on Thursday, following the release of its first-quarter 2026 financial results.
The automotive technology provider reported quarterly earnings of $0.49 per share, beating the analyst consensus estimate of $0.42 by 16.67%. Quarterly sales reached $985 million, surpassing the $912.28 million estimate by 7.97% and marking a 12% year-over-year increase. Net income jumped 53% to $95 million.
The company also raised its full-year 2026 outlook, increasing its net sales guidance to a range of $3.6 billion to $3.9 billion from the previous $3.6 billion to $3.8 billion. Net income guidance for 2026 was raised to $300 million-$360 million from $295 million-$335 million. Additionally, Garrett repurchased $87 million of its common stock during the quarter, demonstrating confidence in its financial position.