Form 8-K

8-K — Garrett Motion Inc.

Accession: 0001735707-26-000018

Filed: 2026-04-30

Period: 2026-04-30

CIK: 0001735707

SIC: 3714 (MOTOR VEHICLE PARTS & ACCESSORIES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — gtx-20260430.htm (Primary)

EX-99.1 (exhibit99_1-2026q1.htm)

GRAPHIC (image_0.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: gtx-20260430.htm · Sequence: 1

gtx-20260430

FALSE000173570700017357072026-04-302026-04-300001735707dei:OtherAddressMember2026-04-302026-04-30

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): April 30, 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 April 30, 2026, Garrett Motion Inc. (the “Company”), issued a press release to report the Company’s financial results for the three months ended March 31, 2026. 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 April 30, 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: April 30, 2026

Garrett Motion Inc.

By:

/s/ Sean Deason

Sean Deason

Senior Vice President and Chief Financial Officer

EX-99.1

Filename: exhibit99_1-2026q1.htm · Sequence: 2

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.”

$ millions (unless otherwise noted) Q1 2026 Q1 2025

Net sales 985 878

Cost of goods sold 789 699

Gross profit 196 179

Gross profit % 19.9% 20.4%

Selling, general and administrative expenses 58 59

Income before taxes 118 85

Net income 95 62

Net income margin 9.6% 7.1%

Adjusted EBIT* 151 131

Adjusted EBIT margin* 15.3% 14.9%

Adjusted EBITDA* 183 159

Adjusted EBITDA margin* 18.6% 18.1%

Net cash provided by operating activities 98 56

Adjusted free cash flow* 49 36

* 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 pass-through and $1 million of import tariffs.

Selling, general and administrative (“SG&A”) expenses for the first quarter of 2026 decreased to $58 million from $59 million in the first quarter of 2025. This decrease was driven by $3 million of lower professional services, $2 million of bad debt recovery and $1 million of lower personnel costs, partially offset by $5 million of unfavorable foreign currency impacts.

Other expense in the first quarter of 2026 was $1 million as compared to $7 million in the first quarter of 2025. This decrease was primarily driven by professional fees incurred in the prior year related to the refinancing of our term loan and revolving credit facility.

Interest expense in the first quarter of 2026 was $27 million as compared to $29 million in the first quarter of 2025. This decrease was primarily due to $3 million in lower interest expense due to a different notional amount of debt outstanding during the period.

Non-operating income for the first quarter of 2026 was $8 million as compared to $1 million in the first quarter of 2025, with the increase driven by the resolution of certain environmental liabilities and foreign exchange transactional gains.

Tax expense for the first quarter of 2026 of $23 million was consistent with the first quarter of 2025, despite higher earnings in the first quarter of 2026, primarily because of a decrease in U.S. taxes on international operations, the global mix of earnings, and deductions related to employee share-based compensation.

Net income for the first quarter of 2026 was $95 million as compared to $62 million in the first quarter of 2025 primarily driven by $17 million of increased gross profit, $7 million of higher non-operating income, $6 million of lower other expense, net, $2 million of lower interest expense and $1 million of lower SG&A expense.

Net cash provided by operating activities totaled $98 million in the first quarter of 2026 as compared to $56 million in the first quarter of 2025, representing an increase of $42 million. The increase was primarily driven by $21 million of higher net income net of non-cash charges, $18 million of favorable impacts from working capital changes and $3 million of favorable impacts from changes in other assets and liabilities.

Non-GAAP Financial Measures

Adjusted EBIT increased to $151 million in the first quarter of 2026 as compared to $131 million in the first quarter of 2025. The increase of $20 million was driven by $19 million from higher volumes, $13 million of favorable foreign currency impacts, $7 million of lower RD&E costs, $4 million of favorable product mix impacts and $2 million of commodity, transportation and energy deflation. These increases were partially offset by $14 million of lower productivity and $11 million of pricing net of inflation pass-through.

Adjusted free cash flow was $49 million in the first quarter of 2026 as compared to $36 million in the first quarter of 2025. The increase was primarily driven by $20 million of higher Adjusted EBIT partially offset by $5 million of unfavorable impacts from working capital changes (net of factoring), $3 million of higher capital expenditures and $3 million of higher cash interest.

Liquidity and Capital Resources

As of March 31, 2026, Garrett had $772 million in available liquidity, including $142 million in unrestricted cash and cash equivalents and $630 million of undrawn commitments under its revolving credit facility. As of December 31, 2025, Garrett had $807 million in available liquidity, including $177 million in unrestricted cash and cash equivalents and $630 million of undrawn commitments under its revolving credit facility.

As of March 31, 2026, total principal amount of debt outstanding was $1,437 million, compared to $1,439 million as of December 31, 2025.

During the first quarter of 2026, we repurchased $87 million of our common stock under our authorized share repurchase program and we had remaining repurchase capacity of $163 million as of March 31, 2026.

Full Year 2026 Outlook

Garrett is providing the following outlook for the full year 2026 for certain GAAP and Non-GAAP financial measures.

Full Year 2026 Outlook Prior Outlook

Net sales (GAAP) $3.6 billion to $3.9 billion $3.6 billion to $3.8 billion

Net sales growth at constant currency (Non-GAAP)* -2% to +6% -2% to +2%

Net income (GAAP) $300 million to $360 million $295 million to $335 million

Adjusted EBIT (Non-GAAP)* $520 million to $600 million $520 million to $570 million

Net cash provided by operating activities (GAAP) $407 million to $522 million $407 million to $502 million

Adjusted free cash flow (Non-GAAP)* $355 million to $475 million $355 million to $455 million

* See reconciliations to the nearest GAAP measures below.

Garrett’s full year 2026 outlook, as of April 30, 2026, includes the following expectations:

•2026 light vehicle industry production down 1% to 3% from 2025;

•2026 commercial vehicle industry, including both on- and off-highway, up 1% to 2% from 2025;

•2026 average light vehicle battery electric vehicle penetration of ~19%;

•2026 Euro/dollar exchange rate of 1.17 USD to 1.00 EUR versus 1.13 in 2025;

•RD&E investment at ~4.2% of sales;

•Capital expenditures at ~2.5% of sales

Conference Call

Garrett will hold a conference call at 8:30 am EDT / 2:30 pm CET on Thursday, April 30, 2026, to discuss its results. To participate on the conference call, please dial +1-877-883-0383 (US) or +1-412-902-6506 (international) and use the passcode 3761849.

The conference call will also be broadcast over the internet and include a slide presentation. To access the webcast and supporting material, please visit the investor relations section of the Garrett Motion website at http://investors.garrettmotion.com. A replay of the conference call will be available by dialing +1-855-669-9658 (US) or +1-412-317-0088 (international) using the access code 7390409. The webcast will also be archived on Garrett’s website.

Forward-Looking Statements

This communication and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar expressions. Forward-looking statements represent our current judgment about possible future activities, events, or developments that we intend, expect, project, believe, or anticipate will or may occur in the future. In making these statement, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future performance, events, or results, and actual performance, events, or results may differ materially from those envisaged by our forward-looking statements due to a variety of important factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission, including risks related to the automotive industry, the competitive landscape and our ability to compete, and macroeconomic and geopolitical conditions, among others. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statement, except where we are expressly required to do so by law.

Non-GAAP Financial Measures

This communication includes the following non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles in the United States (“GAAP”): Constant currency sales growth, Adjusted EBIT, Adjusted EBITDA, Adjusted EBIT margin, Adjusted EBITDA margin and Adjusted free cash flow. We believe these measures are useful to investors and management in understanding our ongoing operations and analysis of ongoing operating trends and are important indicators of operating performance because they exclude the effects of certain non-operating items, therefore making them more closely reflect our operational performance. Our calculation of these non-GAAP measures, including a reconciliation of such measures to the most closely related GAAP measure, are set forth in the Appendix to this presentation. These non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related GAAP measures. For additional information regarding our non-GAAP financial measures, see our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission.

About Garrett Motion Inc.

A differentiated technology leader, Garrett Motion has a 70-year history of innovation in the automotive sector (cars, trucks) and beyond (off-highway equipment, marine, power generators). Its well-recognized expertise in turbocharging has enabled significant reductions in engine size, fuel consumption, and CO2 emissions. Garrett is committed to advancing turbo applications while leveraging its unique technology solutions, such as fuel cell compressors for hydrogen fuel cell vehicles, as well as electric propulsion and thermal management systems for automotive and industrial applications. Garrett has six R&D centers, 13 manufacturing facilities and a team of more than 8,700 employees in more than 20 countries. For more information, please visit www.garrettmotion.com.

Contacts:

INVESTOR RELATIONS

Cyril Grandjean

+1.734.392.5504

investorrelations@garrettmotion.com

CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS

For the Three Months Ended

March 31,

2026 2025

(Dollars in millions, except per share amounts)

Net sales $ 985 $ 878

Cost of goods sold 789 699

Gross profit 196 179

Selling, general and administrative expenses 58 59

Other expense, net 1 7

Interest expense 27 29

Non-operating income, net (8) (1)

Income before taxes 118 85

Tax expense 23 23

Net income $ 95 $ 62

Earnings per common share

Basic $ 0.50 $ 0.30

Diluted 0.49 0.30

Weighted average common shares outstanding

Basic 189,248,149 205,113,600

Diluted 193,202,620 207,571,011

CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended

March 31,

2026 2025

(Dollars in millions)

Net income $ 95 $ 62

Foreign exchange translation adjustment (5) (29)

Changes in fair value of effective cash flow hedges, net of tax 14 2

Changes in fair value of net investment hedges, net of tax 31 (35)

Total other comprehensive income (loss), net of tax 40 (62)

Comprehensive income $ 135 $ —

CONSOLIDATED INTERIM BALANCE SHEETS

March 31,

2026 December 31,

2025

(Dollars in millions)

ASSETS

Current assets:

Cash and cash equivalents $ 142 $ 177

Restricted cash 2 2

Accounts, notes and other receivables – net 810 703

Inventories – net 313 339

Other current assets 108 98

Total current assets 1,375 1,319

Investments and long-term receivables 11 11

Property, plant and equipment – net 437 462

Goodwill 193 193

Deferred income taxes 184 210

Other assets 173 172

Total assets $ 2,373 $ 2,367

LIABILITIES

Current liabilities:

Accounts payable $ 1,077 $ 1,061

Current maturities of long-term debt 7 7

Accrued liabilities 322 295

Total current liabilities 1,406 1,363

Long-term debt 1,410 1,411

Deferred income taxes 34 32

Other liabilities 304 363

Total liabilities $ 3,154 $ 3,169

COMMITMENTS AND CONTINGENCIES

EQUITY (DEFICIT)

Common Stock, par value $0.001; 1,000,000,000 and 1,000,000,000 shares authorized, 245,171,744 and 242,549,685 issued and 187,742,822 and 190,556,297 outstanding as of March 31, 2026 and December 31, 2025, respectively — —

Additional paid – in capital 1,247 1,240

Retained deficit (1,305) (1,384)

Accumulated other comprehensive (loss) income (98) (138)

Treasury Stock, at cost; 57,428,922 and 51,993,388 shares as of March 31, 2026 and December 31, 2025, respectively

(625) (520)

Total deficit (781) (802)

Total liabilities and deficit $ 2,373 $ 2,367

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

Three Months Ended March 31,

2026 2025

(Dollars in millions)

Cash flows from operating activities:

Net income $ 95 $ 62

Adjustments to reconcile net income to net cash provided by operating activities

Deferred income taxes 5 6

Depreciation 25 22

Amortization of deferred issuance costs 1 2

Foreign exchange loss (gain) 13 (19)

Stock compensation expense 7 6

Unrealized (gain) loss on derivatives (11) 35

Other 2 2

Changes in assets and liabilities:

Accounts, notes and other receivables (112) (56)

Inventories 17 25

Other assets (7) (3)

Accounts payable 48 (34)

Accrued liabilities 19 (3)

Other liabilities (4) 11

Net cash provided by operating activities $ 98 $ 56

Cash flows from investing activities:

Expenditures for property, plant and equipment (29) (26)

Proceeds from cross-currency swap contracts

3 4

Net cash used for investing activities $ (26) $ (22)

Cash flows from financing activities:

Proceeds from issuance of long-term debt, net of deferred financing costs — 68

Bank overdrafts — 17

Payments of long-term debt (2) (71)

Repurchases of Common Stock (87) (30)

Dividend payments (16) (12)

Payments for debt and revolving facility financing costs — (1)

Other — (2)

Net cash used for financing activities $ (105) $ (31)

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (2) 2

Net (decrease) increase in cash, cash equivalents and restricted cash (35) 5

Cash, cash equivalents and restricted cash at beginning of the period 179 126

Cash, cash equivalents and restricted cash at end of the period $ 144 $ 131

Supplemental cash flow disclosure:

Income taxes paid (net of refunds) 13 12

Interest paid 10 7

Supplemental disclosure of non-cash investing activities:

Expenditures for property, plant and equipment in accounts payable 38 28

Reconciliation of Net Income to Adjusted EBIT(1) and Adjusted EBITDA(1)

Three Months Ended

March 31,

2026 2025

(Dollars in millions)

Net income $ 95 $ 62

Interest expense, net of interest income (2)

26 29

Tax expense 23 23

EBIT 144 114

Repositioning costs 12 7

Foreign exchange gain on debt, net of related hedging loss — 1

Factoring and notes receivables discount fees 1 1

Other non-operating income (3)

(6) (1)

Debt refinancing and redemption costs (4)

— 6

Acquisition and divestiture expenses — 3

Adjusted EBIT 151 131

Depreciation 25 22

Stock compensation expense (5)

7 6

Adjusted EBITDA $ 183 $ 159

Net sales $ 985 $ 878

Net income margin 9.6 % 7.1 %

Adjusted EBIT margin (6)

15.3 % 14.9 %

Adjusted EBITDA margin (7)

18.6 % 18.1 %

(1)We evaluate performance on the basis of Adjusted EBIT and Adjusted EBITDA. We define “EBIT” as our net income calculated in accordance with U.S. GAAP, plus the sum of (i) interest expense net of interest income and (ii) tax expense. We define Adjusted EBIT as EBIT, plus the sum of (i) repositioning costs, (ii) foreign exchange (gain) loss on debt net of related hedging gain/loss, (iii) discounting costs on factoring, (iv) gain on sale of equity investment, (v) acquisition and divestiture expenses, (vi) other non-operating income, and (vii) debt refinancing and redemption costs, if any. We define Adjusted EBITDA as EBIT, plus the sum of (i) repositioning costs, (ii) foreign exchange (gain) loss on debt net of related hedging gain/loss, (iii) discounting costs on factoring, (iv) gain on sale of equity investment, (v) acquisition and divestiture expenses, (vi) other non-operating income, and (vii) debt refinancing and redemption costs, if any, plus (viii) depreciation and (ix) stock compensation expense. We believe that Adjusted EBIT and Adjusted EBITDA are important indicators of operating performance and provide useful information for investors because:

•Adjusted EBIT and Adjusted EBITDA exclude the effects of income taxes, as well as the effects of financing activities by eliminating the effects of interest;

•certain adjustment items, while periodically affecting our results, may vary significantly from period to period and have disproportionate effect in a given period, which affects the comparability of our results; and

•Adjusted EBITDA also excludes the effects of investing activities by eliminating the effects of depreciation.

In addition, our management may use Adjusted EBIT and Adjusted EBITDA in setting performance incentive targets to align performance measurement with operational performance.

(2) Reflects interest income of $1 million and $0 million for the three months ended March 31, 2026 and 2025, respectively.

(3) Reflects the non-service component of net periodic pension income and, for the three months ended March 31, 2026, also includes $5 million related to the resolution of certain environmental liabilities not directly related to the Company's operations.

(4) Reflects third-party costs directly attributable to the refinancing of our credit facilities and any amendments.

(5) Stock compensation expense includes only non-cash expenses.

(6) Adjusted EBIT margin represents Adjusted EBIT as a percentage of net sales.

(7) Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of net sales.

Reconciliation of Constant Currency Sales % Change(1)

Three Months Ended

March 31,

2026 2025

Garrett

Reported sales % change 12 % (4) %

Less: Foreign currency translation 6 % 2 %

Constant currency sales % change 6 % (2) %

Gasoline

Reported sales % change 10 % 4 %

Less: Foreign currency translation 7 % (2) %

Constant currency sales % change 3 % 6 %

Diesel

Reported sales % change 12 % (14) %

Less: Foreign currency translation 9 % (3) %

Constant currency sales % change 3 % (11) %

Commercial vehicle / Industrial

Reported sales % change 17 % (4) %

Less: Foreign currency translation 4 % (2) %

Constant currency sales % change 13 % (2) %

Aftermarket

Reported sales % change 16 % (13) %

Less: Foreign currency translation 6 % (3) %

Constant currency sales % change 10 % (10) %

Other Sales

Reported sales % change 7 % 8 %

Less: Foreign currency translation 7 % (3) %

Constant currency sales % change 0 % 11 %

(1) We define constant currency sales growth as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.

Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow(1)

Three Months Ended

March 31,

2026 2025

(Dollars in millions)

Net cash provided by operating activities $ 98 $ 56

Expenditures for property, plant and equipment (29) (26)

Net cash provided by operating activities less expenditures for property, plant and equipment 69 30

Acquisition and divestiture expenses — 1

Cash payments for repositioning 8 3

Proceeds from cross currency swap contracts 3 4

Cash payments for debt refinancing costs — 6

Factoring and P-notes (31) (8)

Adjusted free cash flow (1)

$ 49 $ 36

(1) Adjusted free cash flow reflects an additional way of viewing liquidity that management believes is useful to investors in analyzing the Company’s ability to service and repay its debt. The Company defines adjusted free cash flow as cash flow provided from operating activities less capital expenditures and additionally adjusted for other discretionary items including cash flow impacts for capital structure transformation expenses, acquisition and divestiture expenses, debt refinancing costs, and factoring and guaranteed bank notes activity.

Full Year 2026 Outlook Reconciliation of Reported Net Sales to Net Sales Growth at Constant Currency

2026 Full Year

Low End High End

Reported net sales (% change) 1 % 9 %

Foreign currency translation 3 % 3 %

Full year 2026 Outlook Net sales growth at constant currency (2) % 6 %

Full Year 2026 Outlook Reconciliation of Net Income to Adjusted EBIT and Adjusted EBITDA

2026 Full Year

Low End High End

(Dollars in millions)

Net income $ 300 $ 360

Interest expense, net of interest income * 101 101

Tax expense 101 121

Other non-operating income (6) (6)

Factoring and notes receivables discount fees 1 1

Repositioning costs 23 23

Full Year 2026 Outlook Adjusted EBIT $ 520 $ 600

Depreciation 100 100

Stock compensation expense 27 27

Full Year 2026 Outlook Adjusted EBITDA $ 647 $ 727

* Excludes the effects of marked-to-market fluctuations from our interest rate swap contracts

Full Year 2026 Outlook Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow

2026 Full Year

Low End High End

(Dollars in millions)

Net cash provided by operating activities $ 407 $ 522

Expenditures for property, plant and equipment (90) (90)

Net cash provided by operating activities less expenditures for property, plant and equipment 317 432

Cash payments for repositioning 25 25

Proceeds from cross currency swap contracts 13 18

Full Year 2026 Outlook Adjusted free cash flow $ 355 $ 475

GRAPHIC

Filename: image_0.jpg · Sequence: 7

Binary file (14907 bytes)

Download image_0.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 9

v3.26.1

Cover

Apr. 30, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Apr. 30, 2026

Entity Registrant Name

GARRETT MOTION INC.

Entity Incorporation, State or Country Code

Entity File Number

1-38636

Entity Tax Identification Number

82-4873189

Entity Address, Country

Entity Address, City or Town

Rolle

Entity Address, City or Town

La Pièce 16

Entity Address, Postal Zip Code

1180

City Area Code

734

Local Phone Number

392 5500

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Amendment Flag

false

Entity Central Index Key

0001735707

Entity Addresses [Line Items]

Entity Address, City or Town

Rolle

Entity Address, City or Town

La Pièce 16

Entity Address, Postal Zip Code

1180

Entity Address, Country

Other Address

Cover [Abstract]

Entity Address, City or Town

Plymouth

Entity Address, City or Town

47548 Halyard Drive

Entity Address, Postal Zip Code

48170

Entity Address, State or Province

Entity Addresses [Line Items]

Entity Address, City or Town

Plymouth

Entity Address, City or Town

47548 Halyard Drive

Entity Address, State or Province

Entity Address, Postal Zip Code

48170

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

ISO 3166-1 alpha-2 country code.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCountry

Namespace Prefix:

dei_

Data Type:

dei:countryCodeItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressesLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Details

Name:

dei_EntityAddressesAddressTypeAxis=dei_OtherAddressMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type: