Sees net income $230M-$275M, adjusted EBITDA $590M-$650M, net cash provided by operating activities $370M-$470M, adjusted FCF $325M-$425M. Garrett’s full year 2024 outlook, as of February 15, 2024, includes the following expectations: 2024 light vehicle industry production flat to down 1% from 2023; 2024 commercial vehicle industry, including both on- and off-highway, up 2% from 2023; 2024 average light vehicle battery electric vehicle penetration of 15%; 2024 Euro/dollar assumption of 1.08 EUR to 1.00 USD; RD&E investment at 4.5% of sales in 2024, with approximately 60% on zero emission technologies; Capital expenditures at 2.2% of sales, greater than 30% on zero emission technologies.
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