Garrett Motion Inc. (NASDAQ:GTX) Q1 2022 Earnings Conference Call April 28, 2022 8:30 AM ET

Company Participants

Paul Blalock - Investor Relations

Olivier Rabiller - President and Chief Executive Officer

Sean Deason - Chief Financial Officer

Conference Call Participants

Hamed Khorsand - BWS Financial

Chris McIntyre - McIntyre Partnership

Operator

Hello, and welcome to the Q1 2022 Garrett Motion Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, today's event is being recorded.

I would now hand the call over to Paul Blalock. Mr. Blalock, please go ahead.

Paul Blalock

Thank you, operator. Good day and welcome everyone, and thank you for joining the Garrett Motion's first quarter 2022 financial results conference call.

Before we begin, I'd like to mention that today's presentation and earnings press release are available on the Garrett Motion website at garrettmotion.com, where you will also find links to our SEC filings, along with other important information about our company.

Turning to slide two. We note that this presentation contains forward-looking statements within the meaning of the Securities and Exchange Act. We encourage you to read the risk factors contained in our SEC filings, become aware of the risks and uncertainties in our business and understand that forward-looking statements are only estimates of future performance and should be taken as such. The forward-looking statements represent management's expectations only as of today, and the company disclaims any obligation to update them.

Today's presentation also includes non-GAAP measures to describe the way in which we manage and operate our business. We reconcile each of these measures to the most directly comparable GAAP measure and you're encouraged to examine those reconciliations, which are found in the appendix to both the press release and the slide presentation.

Also in today's presentation and comments, we may refer to light vehicle diesel and light vehicle gasoline products by using the terms diesel and gasoline only.

With us today is Olivier Rabiller, Garrett's President and Chief Executive Officer; and Sean Deason, Garrett's Senior Vice President and Chief Financial Officer.

I will now hand it over to Olivier.

Olivier Rabiller

Thanks Paul, and welcome everyone to Garrett's first quarter conference call. I will begin my remarks on slide three, where we start with highlights for the first quarter.

Garrett achieved strong first quarter performance in a challenging near-term environment, highlighted by a slower than anticipated light vehicle production recovery, stronger inflationary pressure and supply chain constraint impacting OEM production volume. This created numerous difficulties for our employees and supply chain partner. And I would like to thank everyone for their hard work and dedication in these circumstances.