Garrett Motion Inc. (NASDAQ:GTX) Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET

Company Participants

Eric Burge - Head of Investor Relations
Olivier Rabiller - President and Chief Executive Officer
Sean Deason - Senior Vice President and Chief Financial Officer

Conference Call Participants

Hamed Khorsand - BWS Financial
Michael Ward - Freedom Capital

Operator

Hello. My name is Anthony, and I will be your operator this morning. I would like to welcome everyone to the Garrett Motion Second Quarter 2024 Financial Results Conference Call. This call is being recorded, and a replay will be available later today. After the company's presentation, there will be a Q&A session.

I would now like to hand over the call to Eric Burge, Garrett's Head of Investor Relations.

Eric Burge

Thank you, Anthony. Good day, and welcome everyone. Thank you for attending the Garrett Motion second quarter 2024 financial results conference call. Before we begin, I would like to mention that today's presentation and earnings press release are available on the IR section of our Garrett Motion Web site at investors.garrettmotion.com. There you will find a link 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 U.S. Federal Securities Laws. These statements represent management's current expectations, and are subject to various risks and uncertainties that could cause our actual results to differ materially from such expectations. These risks and uncertainties include the factors identified in our filings with the Securities and Exchange Commission. Please review the disclaimer on slide two of our presentation as the content of our call will be governed by this language.

Today's presentation also includes certain non-GAAP measures which we use to help describe how we manage and operate our business. We reconcile each of these measures to the most directly comparable GAAP measure in the appendix of our presentation and related press release. Finally, in today's presentation comments we may refer to light vehicle diesel and light vehicle gasoline products simply as diesel and gasoline only.

With us today are 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 the call over to Olivier.

Olivier Rabiller

Thanks, Eric, and thanks everyone for joining Garrett's second quarter 2024 earnings conference call. I will begin today's remark on slide three. Despite a volatile volume environment in the second quarter, I am pleased to report Garrett's very solid performance, driving outstanding operating results. We delivered the strong adjusted EBITDA margin of 16.9%, up 40 basis points sequentially, while navigating continued challenging regional dynamics. We do not expect to see this volatility disappear in both light and commercial vehicle volumes through the remainder of the year, but the performance that we achieve in Q2 illustrates the way we have anticipated this, and set up the company for continued performance through the remainder of 2024.