Garrett earnings on deck: Can turbocharger gains offset Q2 dip? By Investing.com

Garrett Motion (Garett) is scheduled to release second-quarter results Wednesday before the market opens, with investors focused on whether the turbocharger supplier can keep its momentum after a strong first quarter. Analysts expect EPS of 47 cents on revenue of $965.4 million, implying year-over-year growth of 9.1% in earnings and 5.7% in revenue, but a sequential decline from the prior quarter’s 49 cents and $985 million. Garrett beat revenue expectations last quarter with $985 million in sales, up 12.2% year over year, and also exceeded EPS and EBITDA forecasts. The company has posted four straight quarterly beats. Forecasts have edged up modestly over 60 days. Six analysts rate the stock a Buy, with a mean target of $35.67 versus a $30.80 share price, suggesting 15.8% upside. Shares trade at 15.4 times forward earnings.