Garrett Motion Inc

Garrett Motion reported quarterly revenue of US$976 million, up 6.9% year on year, with EBITDA results and full-year guidance that topped analyst expectations. The stock rose 3.1% over the last day and 5.3% over the past week, though its 90-day share price return is down 18.4% after a softer 30-day stretch, while the 1-year total shareholder return stands at 103.8% and the 3-year total shareholder return at about 2.8x. The most followed narrative pegs fair value around $37.17, comfortably above the last close at $27.07, implying the shares are 27% undervalued. That narrative rests on ongoing innovation and proof of concept awards in zero emission technologies including E Powertrain, E Cooling, and fuel cell compressors, plus expansion in industrial and non automotive end markets. It also flags risks from Garrett Motion's reliance on internal combustion engine turbochargers and exposure to tariff and currency swings.

Garrett Motion reported second-quarter revenues of $976 million, up 6.9% year on year and 3.3% above analysts' expectations, with full-year EBITDA guidance also beating projections. Across the 14 electrical systems stocks tracked, group revenues beat consensus estimates by 2.3% while next-quarter revenue guidance came in 0.6% below, and share prices have fallen an average of 7% since the latest earnings results. Garrett Motion shares are down 12.1% since reporting and trade at $26.30. Among peers, Atkore posted revenues of $794.8 million, up 8.1% year on year and 4.7% above expectations, with its stock up 30.3% at $95.07, while Powell reported revenues of $311.7 million, up 8.9% but 1.6% short of estimates, and its stock is down 13.1% at $191.00. Verra Mobility reported revenues of $263.6 million, up 11.7% and 3.8% above expectations, but logged the weakest full-year guidance update of the group and saw its stock fall 46.2% to $3.02, while Sanmina reported revenues of $3.46 billion, up 69.7% and 1.8% above estimates, with its stock up 6.4% at $222.34.

S.C.L. Motor Part Public Company Limited, or SCL, announced its operating results for the first half of 2026, with total sales revenue of 1.05158 billion baht, up 13.99%, and net profit of 30.44 million baht, up 23.96% compared with the same period last year. The company will pay an interim cash dividend of 0.046 baht per share, with the record date set for 25 August 2026 and payment on 8 September 2026. Managing Director Sakon Tangkongsakul said the company is developing spare parts for electric vehicles, both under its house brand and in partnership with global partners, and expects them to be ready for sale between September and October this year to support the growing number of electric vehicles. The company estimates the automotive parts market in Thailand at about 120 billion baht, with an average growth opportunity of 4% per year. Meanwhile, the Jump+ project aims to become a leader in auto parts distribution by using automated warehouse systems and AI technology to improve efficiency, and has successfully added eight global brands, including genuine BMW and Mini parts, Yokohama batteries, and Garrett turbochargers.

Garrett Motion has appointed Dave Crompton to its Board of Directors. Crompton is Executive Chair and Co-Founder of Pioneer Clean Fleet Solutions and previously served as President and CEO of Achates Power. He brings more than four decades of leadership experience, including 28 years at Cummins Inc. where he held senior executive roles such as President of the Cummins Engine Business and President of Cummins Power Systems. Chairman Daniel Ninivaggi stated that Crompton's expertise in advanced powertrain technologies and global operations will support Garrett's strategy to expand beyond automotive and create long-term shareholder value.

S.C.L. Motor Part Public Company Limited, or SCL, is expanding its engine parts portfolio by adding Garrett Turbo, an OE replacement turbocharger from Garrett, a global expert in air induction system technology, to serve the growing replacement parts market. Managing Director Sakon Tangkawsakul said the addition of Garrett Turbo marks another important step in strengthening the engine parts segment with products recognized internationally for both performance and durability. Currently, SCL offers over 200,000 items covering both genuine and replacement parts, and plans to continuously expand collaboration with leading global manufacturing partners to become a full-service automotive solution provider for vehicle parts.

Ingersoll Rand is set to report fiscal second-quarter 2026 diluted earnings of US$0.80 per share, about 4% higher than the prior-year quarter's US$0.77, continuing a pattern of meeting or beating estimates over the last four quarters. The company's investment narrative hinges on steady demand for mission-critical industrial equipment, a growing base of higher-margin aftermarket revenue, and disciplined capital allocation across M&A and buybacks. A recent multiyear partnership with Garrett Motion to co-develop oil-free air technologies targets rising demand for energy-efficient and sustainable equipment, which could support pricing and margins. Ingersoll Rand's long-term projections call for US$9.0 billion in revenue and US$1.4 billion in earnings by 2029, requiring 4.9% annual revenue growth and an earnings increase of about US$0.8 billion from US$587.0 million. Some analysts already model revenue near US$9.4 billion and earnings around US$1.5 billion by 2029, reflecting more bullish assumptions than consensus.

Morgan Stanley lowered its price target on Ingersoll Rand to $80 from $92 while maintaining an Equal Weight rating, reflecting an updated valuation outlook that views the shares as fairly valued. The firm’s analyst Christopher Snyder made the adjustment on June 3. Ingersoll Rand recently announced a multiyear strategic partnership with Garrett Motion to develop next-generation oil-free air technologies, with initial products expected in 2026 and a broader rollout in 2027. The company provides climate control solutions used in AI server heat mitigation.

GE Vernova reported first-quarter revenues of $9.34 billion, a 16.3% year-on-year increase that exceeded analysts' expectations by 0.8%. The company, spun off from General Electric in 2023, also delivered an impressive beat on adjusted operating income and EPS estimates. Among the 14 electrical systems stocks tracked, the group collectively beat revenue consensus by 3.4% but issued next-quarter revenue guidance 3.3% below expectations. Garrett Motion posted the best performance with revenues of $985 million, up 12.2% and beating estimates by 9.3%, while Whirlpool was the weakest, with revenues falling 9.6% to $3.27 billion and missing estimates by 4.4%. Powell reported revenues of $296.6 million, up 6.5% but missing estimates by 0.8%, and Hubbell reported revenues of $1.52 billion, up 11.1% and beating estimates by 0.8%.