US-listed shares of Garrett Motion rise on upbeat sales outlook

Garrett Motion. (Delaware)

17/04/2023 13:48

** U.S.-listed shares  GTX.O  of Switzerland-based
automotive technology company Garrett Motion Inc up 3.2% at
$8.15 premarket
    ** Company reports Q1 prelim net sales of $970 mln vs est
$922 mln - Refinitiv
    ** GTX also raises its FY net sales outlook to $3.79
bln-$3.98 bln from $3.55 bln-$3.85 bln
    ** Analysts expect company to report FY23 net sales of $3.82
bln
    ** Company's annual outlook sees some strength from strong
industry volumes in key regions, favorable foreign exchange and
robust cash flow generation carry into next quarters - Garrett
CEO
    ** As of last close, Garrett's U.S.-listed shares up ~3.7%
YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com))