Garrett Motion Inc. (NASDAQ: GTX)

Garrett Motion Inc., often recognized by its stock symbol GTX, operates as a prominent technology leader in the mobility and industrial space. The company specializes in delivering differentiated solutions for emission reduction and energy efficiency, with a focus on highly engineered turbocharging, air and fluid compression, and high-speed electric motor technologies. These offerings are primarily designed for original equipment manufacturers (OEMs) and distributors within the mobility and industrial sector.

Garrett's operations span across various domains of the mobility and industrial space, providing products for light vehicles, commercial vehicles, and industrial applications. The company's product portfolio is diverse, encompassing turbochargers, air compressors, and electric motor technologies for both internal combustion engines (ICE) and zero-emission technologies, such as hydrogen fuel cell systems. Garrett's customer base is extensive, including nine of the ten largest light vehicle OEMs and nine of the ten largest commercial vehicle engine makers.

The company's success is underpinned by its differentiated and innovative technology, strong relationships with leading OEMs globally, and a strategic global and low-cost manufacturing footprint that ensures operational excellence. Garrett's strategy is multifaceted, with a focus on strengthening its leadership in the turbocharger industry, leveraging its differentiated technology to address key challenges in zero-emission vehicles, and expanding its aftermarket business. The company is poised to benefit from the increasing adoption of electric vehicles, with S&P projecting a significant rise in global electrified vehicle production from 11 million in 2023 to 31 million by 2027.

Garrett's largest customer is Bayerische Motoren Werke AG (BMW), contributing 12% of the company's total sales in 2023. The company's sustainability approach is built on two main pillars: investing in a culture of innovation and operating responsibly to ensure long-term impact. Garrett's commitment to social and environmental considerations is outlined in its Code of Business Conduct, available on its website.

In terms of human capital, Garrett fosters an inclusive, stimulating, and safe work environment that supports its growth strategy and contributes to sustainable mobility. As of December 31, 2023, the company employed approximately 7,600 permanent employees and 2,100 temporary and contract workers globally. Garrett's diversity, equity, and inclusion initiatives are reflected in its workforce, comprising approximately 60 different nationalities, with 26 different nationalities represented in its senior management team.

Garrett's health and safety management system aligns with global standards, demonstrating a commitment to protecting human health and safety. The company's safety performance improved in 2023, with a Total Case Incident Rate (TCIR) of 0.04, down from 0.12 in 2022.

Garrett's compensation and benefits programs are designed to support employees in achieving the right work-life balance. The company offers an Employee Assistance Program, an external counseling service for personal, family, or workplace matters.

Garrett places a high value on STEM research and learning opportunities, sponsoring higher education institutes in several countries to provide critical research in technical areas and STEM program opportunities for students. The company also promotes community engagement, with a range of initiatives aimed at promoting STEM education and innovation.