EarningsQ2 2026 Earnings Report
MX:GTX Q2 2026 EPS Results
Actual EPS$9.63
Consensus EPS$8.43
Beat/MissBeat by +$1.20
One Year Ago EPS$7.81
MX:GTX Q2 2026 Revenue Results
Actual Revenue$17.72B
Expected Revenue$17.49B
Beat/MissBeat by +$237.81M
YoY Revenue Growth+6.90%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:GTX Upcoming Earnings
Garrett Motion's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GTX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: the company reported strong top-line growth, record adjusted EBIT and margin expansion, robust free cash flow with an 80% conversion rate, improved liquidity and balance sheet actions, active capital returns, and multiple product and technology wins (including industrial and zero-emission initiatives). The management raised full-year guidance across key metrics despite a softer light-vehicle industry backdrop and FX headwinds. Lowlights are primarily macro-related (softer light-vehicle demand, FX pressure, and timing of large industrial award contributions), but these were outweighed by operational execution, share gains, productivity improvements and technology momentum.Company Guidance
Revenue Growth
Net sales of $976 million in Q2, up $63 million year-over-year (7% reported, 5% constant currency). Company raised 2026 net sales midpoint to $3.8 billion, implying ~4% growth at constant currency.
Record Adjusted EBIT and Margin Expansion
Record adjusted EBIT of $152 million in Q2, up $28 million year-over-year, with adjusted EBIT margin of 15.6% (improvement of ~200 basis points YoY). Updated full-year adjusted EBIT outlook of $580 million, ~15.3% margin.
Strong Cash Generation and Conversion
Adjusted free cash flow of $122 million in Q2 with an 80% adjusted FCF conversion rate. Full-year adjusted free cash flow outlook increased to $430 million.
Improved Liquidity and Balance Sheet Actions
Total liquidity of $788 million (including $630 million revolver capacity and $158 million unrestricted cash). Voluntary $50 million early repayment on term loan; net leverage improved to 1.8x (down from prior quarter).
Shareholder Returns
Repurchased $28 million of common stock in Q2 (bringing YTD repurchases to $115 million) and paid $15 million in dividends; Board declared Q3 dividend of $0.08 per share.
Industrial and Commercial Vehicle Momentum
Commercial vehicle and industrial verticals grew ~10% in Q2, driven by on-highway demand in China and increasing industrial turbo demand (power generation). Sold over $80 million of industrial turbos year-to-date and now expects ~ $200 million industrial sales for the full year.
Product Wins and Technology Progress
Secured multiple gasoline awards including a large North American program; several power generation awards; first award for Garrett MEG 200 turbo for data center power generation; first production award for centrifugal air compressor; progress on high-speed E-Powertrain and predevelopment for commercial vehicle electric powertrain with a Japanese OEM; growing interest in E-Cooling/HVAC applications.
Operational Productivity
Operating performance and productivity measures contributed roughly $14 million to results in the quarter, supporting margin expansion and stronger conversion of earnings to cash.
Raised Full-Year Guidance
Updated 2026 outlook increased across all measures: net sales midpoint $3.8 billion (4% CC growth), adjusted EBIT $580 million (15.3% margin), adjusted free cash flow $430 million; full-year adjusted EBIT midpoint improved by $20 million vs prior outlook.
MX:GTX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed