10 Stocks Beating Wall Street’s Bets

8. Garrett Motion Inc. (NASDAQ:GTX)

Garrett Motion capped Friday’s trading soaring to a new all-time high as investors continued to digest impressive earnings for the past quarter, alongside a higher growth outlook.

At intra-day trading, the stock soared to a record high of $17.05 before trimming gains to finish the day up by 13.8 percent at $16.99 apiece.

In an updated report on Thursday, Garrett Motion Inc. (NASDAQ:GTX) said it grew its net income by 48 percent to $77 million from $52 million in the same period last year, on the back of a $20 million jump in gross profit, $8 million lower interest cost, and a $2 million increase in non-operating income.

Net sales, on the other hand, rose by 9.2 percent to $902 million from $826 million year-on-year, primarily driven by higher demand in gasoline and diesel, a favorable currency impact, and recoveries on enacted import tariffs.

Following the results, Garrett Motion Inc. (NASDAQ:GTX) raised its full-year net income projection to a range of $265 million to $295 million, versus the $233 million to $278 million previously.

Net sales projection was also upgraded to a range of $3.5 billion to $3.6 billion, versus the $3.4 billion to $3.6 billion prior.