GTX

EX-99.1

2 exhibit99_1-2026q1.htm

EX-99.1

Document

Exhibit 99.1

Garrett Motion Reports First Quarter 2026 Financial Results, Raises 2026 Outlook

First Quarter 2026 Financial Highlights

•Net sales totaled $985 million, up 12% on a reported basis and 6% on a constant currency* basis vs prior year, driven by share of demand gains in passenger vehicles and strong performance in commercial vehicle off-highway and industrial

•Net income totaled $95 million; Net income margin of 9.6%

•Adjusted EBIT* totaled $151 million; Adjusted EBIT margin* of 15.3%

•Net cash provided by operating activities totaled $98 million

•Adjusted free cash flow* totaled $49 million

•Raising 2026 full-year outlook

First Quarter 2026 Business Highlights

•Secured several new light vehicle turbo programs, including an additional award for range extended electric vehicles

•Won a significant volume extension for light commercial vehicle diesel application with a European OEM

•Multiple commercial vehicle and industrial awards including power generation applications

•Continued to win in E-Powertrain; second commercial vehicle production award

•Growing industrial engagement for E-Cooling, including a production award for battery energy storage system

PLYMOUTH, Mich. and ROLLE, Switzerland, April 30, 2026 – Garrett Motion Inc. (Nasdaq: GTX) ("Garrett" or the "Company"), a leading automotive and industrial technology provider, today announced its financial results for the three months ended March 31, 2026. Additionally, the Company's Board of Directors declared a cash dividend of $0.08 per share of common stock, payable on June 15, 2026, to shareholders of record as of June 1, 2026.

“Garrett had a strong start to 2026, delivering 6% organic growth.” said Olivier Rabiller, President and CEO of Garrett. “Net sales increased to $985 million, Adjusted EBIT margin expanded to 15.3% and we generated $49 million of Adjusted Free Cash Flow, reflecting disciplined execution and strong volume conversion. During the quarter, we repurchased $87 million of common shares and returned more than $100 million to shareholders including dividends.”

“We also continued to secure new business across both our turbo and zero‑emission technology portfolios,” Mr. Rabiller added. “This included an additional commercial vehicle award for our high‑speed E‑Powertrain, alongside growing industrial engagement for our oil‑free E‑Cooling compressor, supporting our strategy to scale our differentiated electrification and industrial offerings.”

1

$ millions (unless otherwise noted)Q1 2026Q1 2025

Net sales985878

Cost of goods sold789699

Gross profit196179

Gross profit %19.9%20.4%

Selling, general and administrative expenses5859

Income before taxes11885

Net income9562

Net income margin9.6%7.1%

Adjusted EBIT*151131

Adjusted EBIT margin*15.3%14.9%

Adjusted EBITDA*183159

Adjusted EBITDA margin*18.6%18.1%

Net cash provided by operating activities9856

Adjusted free cash flow*4936

* See reconciliations to the nearest GAAP measures below.

Results of Operations

Net sales for the first quarter of 2026 were $985 million, representing an increase of 12% (including a favorable impact of $58 million or 6% due to foreign currency translation) compared with $878 million in the first quarter of 2025. This increase was driven by higher demand across all verticals. The increase in gasoline and diesel was driven by new application launches and program ramp-ups, while the increase in commercial vehicles/industrial was primarily driven by growth in all key regions, as well as continued industrial growth. Additionally, strong demand for Aftermarket sales drove a favorable product mix. Recoveries of import tariffs and favorable foreign currency impacts also contributed to increased Net sales.

Cost of goods sold for the first quarter of 2026 increased to $789 million from $699 million in the first quarter of 2025, primarily driven by $42 million from higher sales volumes, $40 million from foreign currency impacts, $7 million of lower productivity net of labor inflation and repositioning costs, $6 million from import tariffs and $4 million of unfavorable product mix. These increases were partially offset by $7 million of lower RD&E costs and $2 million from commodity, transportation and energy deflation.

Gross profit totaled $196 million for the first quarter of 2026 as compared to $179 million in the first quarter of 2025, with a gross profit percentage for the first quarter of 2026 of 19.9% as compared to 20.4% in the first quarter of 2025. This increase in gross profit was driven by $19 million from higher sales volumes, $18 million from favorable foreign currency impacts, $7 million of lower RD&E costs, $4 million of favorable product mix and $2 million from commodity, transportation and energy deflation. These benefits were partially offset by $21 million of lower productivity net of labor deflation and repositioning costs, $11 million of pricing net of inflation pas

gtx-20260219FALSE000173570700017357072026-02-192026-02-190001735707dei:OtherAddressMember2026-02-192026-02-19

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 19, 2026

GARRETT MOTION INC.

(Exact name of Registrant as specified in its Charter)

Delaware

1-38636

82-4873189

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

47548 Halyard Drive, Plymouth, MI 48170

and

La Pièce 16, 1180 Rolle, Switzerland

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: +1 734 392 5500 and +41 21 695 30 00

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.001 par value per share GTX The Nasdaq Stock Market LLC

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02. Results of Operations and Financial Condition.

On February 19, 2026, Garrett Motion Inc. (the “Company”), issued a press release to report the Company’s financial results for the three and twelve months ended December 31, 2025. The full text of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1. The information in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d)     Exhibits.

99.1*

Press Release of Garrett Motion Inc., dated February 19, 2026.

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

* Furnished herewith.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 19, 2026

Garrett Motion Inc.

By:

/s/ Sean Deason

Sean Deason

Senior Vice President and Chief Financial Officer

gtx-20251023FALSE000173570700017357072025-10-232025-10-230001735707dei:OtherAddressMember2025-10-232025-10-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 23, 2025

GARRETT MOTION INC.

(Exact name of Registrant as specified in its Charter)

Delaware 1-38636 82-4873189 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification Number)

47548 Halyard Drive, Plymouth, MI 48170

and La Pièce 16, 1180 Rolle, Switzerland

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: +1 734 392 5500 and +41 21 695 30 00

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, $0.001 par value per shareGTXThe Nasdaq Stock Market LLC

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02.Results of Operations and Financial Condition.

On October 23, 2025, Garrett Motion Inc. (the “Company”), issued a press release to report the Company’s financial results for the three months ended September 30, 2025. The full text of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1. The information in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01.Financial Statements and Exhibits.

(d)     Exhibits.

99.1* Press Release of Garrett Motion Inc., dated October 23, 2025.

104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

*Furnished herewith.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 23, 2025 Garrett Motion Inc.

By: /s/ Sean Deason Sean Deason Senior Vice President and Chief Financial Officer