Gates Industrial

Gates Industrial Corp. Plc is a holding company, which engages in the manufacture of engineered power transmission and fluid solutions. It operates through the following segments: Power Transmission and Fluid Power. The Power Transmission segment includes elastomer drive belts, and related components used to efficiently transfer motion in a broad range of applications. The Fluid Power segment consists of hoses, tubing, and fittings designed to convey hydraulic fluid at high-pressures in both mobile and stationary applications, and high-pressure and fluid transfer hoses used to convey various fluids. The company was founded on September 25, 2017, and is headquartered in Denver, CO.

Earnings data Q1 2021

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Earnings data Q3 2024

Earnings data Q4 2024

Gates Industrial reports robust Q4 growth amidst supply chain challenges

Gates Industrial delivered strong Q4 performance with revenue growth and improved EBITDA margin. Despite challenges in China and supply chain issues, the company remains focused on productivity and cash flow. Opportunities lie in global auto OEM growth and new product development.

Gates Industrial reports solid Q1 performance amidst cybersecurity challenges

Gates Industrial showed resilience in Q1 despite a cybersecurity incident, achieving positive free cash flow and strong core growth.
While facing challenges from the incident and variable compensation expectations, the company's strategic strengths lie in its automotive replacement business and shareholder value commitment.
Opportunities for growth include ongoing restructuring projects, reduced automotive OEM exposure, and guidance for a positive full year performance.
Overall, Gates Industrial's performance in Q1 demonstrates a balanced approach to navigating challenges and capitalizing on opportunities for future growth.

Gates Industrial beats Q2 guidance, eyes profitability enhancements

Gates Industrial's Q2 performance exceeded expectations, driven by automotive and EMEA growth. Challenges in China and extended lead times in Power Transmission segment. Opportunities lie in enhancing profitability and cash flow generation.

Gates Industrial Achieves Record Q3 Results, Eyes Growth Opportunities

Gates Industrial's Q3 performance was robust, with record revenues and adjusted EPS. Despite challenges in industrial markets, the company's automotive segment outperformed. With improved margins and cash flow, Gates Industrial is well-positioned for growth, supported by operational enhancements and a resilient European market.

Gates Industrial reports strong 2023 performance amidst market challenges

Gates Industrial showcased strong financial performance in 2023, with margin expansion and cash conversion driving improved profitability and reduced leverage.
While facing challenges in declining industrial markets and weak European segments, the company is focused on cost savings, debt reduction, and shareholder value enhancement.
Opportunities lie in modest growth expectations, M&A potential, and technological innovations, positioning Gates Industrial for future success and market differentiation.
Overall, Gates Industrial's strategic focus on financial discipline, operational efficiency, and innovation sets a solid foundation for sustainable growth and value creation.

Gates Industrial reports Q1 revenue decline but margin improvement

Gates Industrial's Q1 performance saw revenue decline but margin improvement.
The company faces challenges from market choppiness and sector headwinds.
Opportunities lie in personal mobility recovery, data center growth, and cost efficiencies.
Overall, Gates Industrial is focused on margin expansion and operational improvements.

Gates Industrial reports Q2 revenue decline, focuses on profitability

Gates Industrial faced revenue decline in Q2 2024 but improved EBITDA margin through strategic initiatives.
Challenges include soft demand in key markets, while opportunities lie in growth areas like personal mobility.
The company is proactively addressing challenges with cost-saving measures and optimization plans.
Overall, Gates Industrial aims to navigate market uncertainties and drive profitability through focused strategies.

Gates Industrial reports mixed Q3 results, eyes growth opportunities

Gates Industrial faced challenges in core sales decline and segment sales decreases but showed strength in EBITDA margins and financial stability.
The company's focus on enterprise initiatives, pricing strategies, and market share gains present growth opportunities amidst market challenges.
Optimism about future profitability, global auto replacement business, and stability in replacement markets highlight Gates Industrial's resilience and adaptability.
Updated guidance, narrowed EBITDA range, and improved adjusted EPS midpoint reflect confidence in future earnings growth potential.

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DENVER , Dec. 7, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today that certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders") have commenced a secondary offering of 15,000,000 of Gates' ordinary shares (the "Offering"). In connection with the Offering, the Selling Stockholders intend to grant to the underwriters a 30-day option to purchase up to 2,250,000 additional ordinary shares.

GATES ANNOUNCES SECONDARY OFFERING OF 15,000,000 ORDINARY SHARES

The average of price targets set by Wall Street analysts indicates a potential upside of 28.8% in Gates Industrial (GTES). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Believe Gates Industrial (GTES) Could Rally 28.79%: Here's is How to Trade

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Gates Industrial (GTES) Right Now?

Gates Industrial (GTES) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Earnings Estimates Moving Higher for Gates Industrial (GTES): Time to Buy?

The consensus price target hints at a 33.8% upside potential for Gates Industrial (GTES). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Does Gates Industrial (GTES) Have the Potential to Rally 33.81% as Wall Street Analysts Expect?

If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Gates Industrial (GTES) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.

Gates Industrial (GTES) Is Attractively Priced Despite Fast-paced Momentum

Gates Industrial Corporation plc (NYSE:GTES ) Q3 2023 Results Conference Call November 3, 2023 10:00 AM ET Company Participants Rich Kwas - VP, IR Ivo Jurek - CEO Brooks Mallard - CFO Conference Call Participants Andy Kaplowitz - Citi Damian Karas - UBS David Raso - Evercore ISI Deane Dray - RBC Capital Markets Jeff Hammond - KeyBanc Capital Markets Jerry Revich - Goldman Sachs Julian Mitchell - Barclays Operator Ladies and gentlemen, good morning. My name is Abby, and I'll be your conference operator today.

Gates Industrial Corporation plc (GTES) Q3 2023 Earnings Call Transcript

Gates Industrial (GTES) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.31 per share a year ago.

Gates Industrial (GTES) Q3 Earnings Surpass Estimates

DENVER , Nov. 3, 2023 /PRNewswire/ -- Third -Quarter 2023 Financial Summary Record third-quarter net sales of $872.9 million, up 1.4% compared to the prior-year period and representing a core revenue decrease of (0.5)% year-over-year. Net income attributable to shareholders of $78.7 million, or $0.29 per diluted share.

Gates Industrial Reports Third-Quarter 2023 Results

DENVER , Oct. 30, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that the Company will participate in the Baird 2023 Global Industrial Conference in Chicago, Illinois, on Wednesday, November 8, 2023. Ivo Jurek, Chief Executive Officer, will present at 11:25 a.m.

Gates Industrial to Participate in Baird's 2023 Global Industrial Conference

DENVER , Oct. 10, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) will issue its third-quarter earnings release before the market opens on Friday, November 3, 2023.  Management will host a webcast and conference call on the same day at 10:00 a.m.

Gates Industrial Announces Third-Quarter 2023 Earnings Release Date

DENVER , Sept. 1, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that the Company will participate in Morgan Stanley's 11th Annual Laguna Conference in Dana Point, California, on Wednesday, September 13, 2023.

Gates Industrial to Participate in Morgan Stanley's 11th Annual Laguna Conference

DENVER , Aug. 31, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that the Company will participate in the 2023 RBC Capital Markets Global Industrials Conference in Las Vegas, Nevada, on Tuesday, September 12, 2023. About Gates Industrial Corporation plc Gates Industrial Corporation plc is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions.

Gates Industrial to Participate in the 2023 RBC Capital Markets Global Industrials Conference

Gates Industrial Corporation plc (NYSE:GTES ) Q2 2023 Earnings Conference Call August 4, 2023 10:00 AM ET Company Participants Rich Kwas – Vice President-Investor Relations Ivo Jurek – Chief Executive Officer Brooks Mallard – Chief Financial Officer Conference Call Participants Mike Halloran – Baird Andy Kaplowitz – Citigroup Julian Mitchell – Barclays Josh Pokrzywinski – Morgan Stanley Jeff Hammond – KeyBanc David Raso – Evercore ISI Deane Dray – RBC Jerry Revich – Goldman Sachs Jamie Cook – Credit Suisse Operator Hello, and welcome to the Gates Industrial Corporation Q2 2023 Earnings Call. All lines have been placed on mute to prevent any background noise.

Gates Industrial Corporation plc (GTES) Q2 2023 Earnings Call Transcript

Although the revenue and EPS for Gates Industrial (GTES) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Gates Industrial (GTES) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Gates Industrial (GTES) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.32 per share a year ago.

Gates Industrial (GTES) Surpasses Q2 Earnings and Revenue Estimates

DENVER , Aug. 4, 2023 /PRNewswire/ --  Second -Quarter 2023 Financial Summary Record second-quarter net sales of $936.3 million, up 3.3% compared to the prior-year period, including core revenue growth of 3.9%. Net income attributable to shareholders of $64.9 million, or $0.23 per diluted share.

Gates Industrial Reports Second-Quarter 2023 Results

G-Force WorkHorse™ belts bring material science innovation to fields, farms, and trails DENVER , Aug. 1, 2023 /PRNewswire/ -- Gates (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions – and a pioneer in belt-driven powersports applications – announces an expansion to its G-Force™ product portfolio. The G-Force WorkHorse CVT belt is specifically designed to keep UTVs and ATVs moving through tough jobs and rough terrain.

Gates Launches New G-Force WorkHorse CVT Belt for Off-road Vehicles

DENVER , July 11, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) will issue its second-quarter earnings release before the market opens on Friday, August 4, 2023.  Management will host a webcast and conference call on the same day at 10:00 a.m.

Gates Industrial Announces Second-Quarter 2023 Earnings Release Date

Fifth Annual Report Highlights Continued Progress DENVER , June 21, 2023 /PRNewswire/ -- Gates  (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today published its annual Sustainability Report for 2022 . The report highlights our progress on the four pillars of our sustainability strategy: Governance, Technology, Environment, and Stewardship.

Gates Releases 2022 Corporate Sustainability Report

Is Gates Industrial (GTES) Stock Undervalued Right Now?

The heavy selling pressure might have exhausted for Gates Industrial (GTES) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Gates Industrial (GTES) Loses -9.05% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

DENVER , May 17, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today the pricing of the previously announced secondary offering of 22,500,000 ordinary shares (the "Offering") by certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders") at a public offering price of $11.75 per share. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to 3,375,000 additional ordinary shares.

GATES Announces PRICING OF Secondary Offering of 22,500,000 Ordinary Shares

DENVER , May 16, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today that certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders") have commenced a secondary offering of 22,500,000 of Gates' ordinary shares (the "Offering"). In connection with the Offering, the Selling Stockholders intend to grant to the underwriters a 30-day option to purchase up to 3,375,000 additional ordinary shares.

GATES ANNOUNCES SECONDARY OFFERING OF 22,500,000 ORDINARY SHARES

DENVER , May 5, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that the Company will participate in the 2023 Goldman Sachs Industrials & Materials Conference in New York, NY, on Wednesday, May 10, 2023. Tom Pitstick, Chief Strategy Officer, will present at 10:15 a.m.

News for Gates Industrial Stock (GTES)