09:49 AM EDT, 07/25/2024 (MT Newswires) -- Garrett Motion ( GTX ) shares were down nearly 11% in recent Thursday trading after the company posted lower Q2 net sales and cut its 2024 revenue guidance.

The company reported Q2 earnings of $0.28 per diluted share, swinging from a loss of $1.88 a year earlier.

An analyst polled by Capital IQ expected an EPS of $0.24.

Net sales for the quarter ended June 30 were $890 million, down from $1.01 billion a year earlier.

Two analysts surveyed by Capital IQ expected $993.5 million.

The company said it now expects 2024 net sales of $3.50 billion to $3.65 billion, compared with its previous outlook of $3.80 billion to $3.95 billion.

Two analysts surveyed by Capital IQ expect $3.90 billion.

Price: 8.12, Change: -1.00, Percent Change: -10.96