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

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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.

Gates Industrial to Participate in the 2023 Goldman Sachs Industrials & Materials Conference

Gates Industrial Corporation plc (NYSE:GTES ) Q1 2023 Earnings Conference Call May 4, 2023 11:30 AM ET Company Participants Rich Kwas - Vice President, Investor Relations Ivo Jurek - Chief Executive Officer Brooks Mallard - Executive Vice President and Chief Financial Officer Conference Call Participants Deane Dray - RBC Capital Markets Andrew Kaplowitz - Citigroup Julian Mitchell - Barclays Joshua Pokrzywinski - Morgan Stanley Michael Halloran - Baird Jamie Cook - Credit Suisse Clay Nelson - Goldman Sachs Jeffrey Hammond - KeyBanc Capital Markets Operator Thank you for standing by. My name is Kayla Baker and I will be your conference operator today.

Gates Industrial Corporation plc (GTES) Q1 2023 Earnings Call Transcript

Gates Industrial (GTES) came out with quarterly earnings of $0.25 per share, missing the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.26 per share a year ago.

Gates Industrial (GTES) Misses Q1 Earnings and Revenue Estimates

DENVER , May 4, 2023 /PRNewswire/ -- First-Quarter 2023 Financial Summary Record first-quarter net sales of $897.7 million, up 0.5% compared to the prior-year period, including core revenue growth of 4.0%. Net income attributable to shareholders of $26.4 million, or $0.09 per diluted share.

Gates Industrial Reports First-Quarter 2023 Results

DENVER , April 26, 2023 /PRNewswire/ -- Gates (NYSE: GTES), announces the launch of the mobile version of the award-winning Gates Design Power, putting advanced digital design tools to support the engineering of belt drive systems on customers' mobile devices. "With the launch of Design Power Mobile, we're demonstrating our ongoing commitment to accelerate our Chain to Belt initiative, driving the conversion of legacy drive technologies to clean, quiet, low-maintenance Gates belt drives.

Everywhere is better: Get to know the mobile version of Gates Design Power™

DENVER , April 20, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) will issue its first-quarter earnings release before the market opens on Thursday, May 4, 2023. Management will host a webcast and conference call on the same day at 11:30 a.m.

Gates Industrial Announces First-Quarter 2023 Earnings Release Date

Gates Industrial Corporation has seen a decent amount of volatility in recent years, particularly from a profit and cash flow perspective. Management also seems optimistic about the future, with core sales, profits, and cash flows likely to grow.

Gates Industrial Corp.: A 'Power' Prospect For Your Portfolio

Gates beat fourth quarter expectations with 16% organic revenue growth, but weakening end-market demand has management expecting no volume growth in 2023. Supply chain issues hit the company hard in 2022, but margin, free cash flow, and return leverage have been lackluster for some time and need to improve.

Gates Industrial Playing Catch-Up With Sentiment After Supply Issues Undermined 2022

Gates Industrial Corporation plc (NYSE:GTES ) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET Company Participants Rich Kwas - Head of IR Ivo Jurek - CEO Brooks Mallard - CFO Conference Call Participants David Raso - Evercore ISI Michael Halloran - Baird Jerry Revich - Goldman Sachs Julian Mitchell - Barclays Andrew Kaplowitz - Citigroup Nigel Coe - Wolfe Research Josh Pokrzywinski - Morgan Stanley Jeff Hammond - KeyBanc Capital Markets Damian Karas - UBS Deane Dray - RBC Capital Markets Operator Thank you for standing by. At this time, I would like to welcome everyone to the Gates Industrial Corporation Q4 2022 Earnings Call.

Gates Industrial Corporation plc (GTES) Q4 2022 Earnings Call Transcript

Gates Industrial (GTES) delivered earnings and revenue surprises of 8.70% and 3.40%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Gates Industrial (GTES) Tops Q4 Earnings and Revenue Estimates

DENVER , Feb. 9, 2023 /PRNewswire/ --  Fourth -Quarter 2022 Highlights Net sales of $893.3 million, representing 9.5% growth and core revenue growth of 16.0%. Net income attributable to shareholders of $84.9 million, or $0.30 per diluted share.

Gates Industrial Reports Fourth-Quarter and Full Year 2022 Results

Gates Industrial (GTES) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Gates Industrial (GTES) to Report a Decline in Earnings: What to Look Out for

DENVER , Jan. 12, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) will issue its fourth-quarter earnings release before the market opens on Thursday, February 9, 2023.  Management will host a webcast and conference call on the same day at 10:00 a.m.

Gates Industrial Announces Fourth-Quarter 2022 Earnings Release Date

Eastman Chemical

Lam Research

Target

Vodafone Group

Westamerica Bancorp

Analysts expect value stocks to maintain outperformance over growth stocks as interest rates rise and the economy falters.

Three value-stock investors favor these six picks for a rocky 2023

Gates has been weighed down by supply-side headwinds, but the mid to long-term growth story remains intact. Cash generation remains strong and should free up balance sheet capacity for M&A.

Gates Industrial: A Quality Industrial Name With Re-Rating Potential

Gates Industrial Corporation plc (NYSE:GTES ) Q3 2022 Earnings Conference Call November 4, 2022 10:00 AM ET Company Participants Bill Waelke - Head of Investor Relations Ivo Jurek - Chief Executive Officer Brooks Mallard - Chief Financial Officer Conference Call Participants Andy Kaplowitz - Citigroup Jamie Cook - Credit Suisse Deane Dray - RBC Capital Markets Jeff Hammond - KeyBanc Capital Markets David Raso - Evercore ISI Jerry Revich - Goldman Sachs Julian Mitchell - Barclays Operator Good morning and welcome to the Gates Industrial Corporation Q3 2022 Earnings Call. All callers are in listen-only mode.

Gates Industrial Corporation plc (GTES) CEO Ivo Jurek on Q3 2022 Results - Earnings Call Transcript

Gates Industrial (GTES) delivered earnings and revenue surprises of 3.33% and 3.35%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Gates Industrial (GTES) Q3 Earnings Top Estimates

DENVER , Nov. 4, 2022 /PRNewswire/ --  Third -Quarter 2022 Highlights Net sales of $860.7 million, including core revenue growth of 7.6%. Net income attributable to shareholders of $51.9 million, or $0.18 per diluted share.

Gates Industrial Reports Third-Quarter 2022 Results

DENVER , Nov. 2, 2022 /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 2022 Global Industrial Conference in Chicago, Illinois, on Wednesday, November 9, 2022. Ivo Jurek, Chief Executive Officer, will present at 4:40 p.m.

Gates Industrial to Participate in Baird's 2022 Global Industrial Conference

New Design Enables Quieter & More Efficient Drivetrains DENVER , Nov. 1, 2022 /PRNewswire/ -- Gates (NYSE: GTES), a leading global provider of application-specific fluid power and power transmission solutions – and a pioneer in belt-driven micromobility – introduces the new Carbon Drive Moto X5™ synchronous drive belt. Gates Carbon Drive has been the leading belt drive solution for two-wheelers, for over 40 years as a cleaner, quieter, smoother, and more durable alternative to chain drives.

Gates Introduces Carbon Drive Moto X5 Belts to "Unchain" Growing Electric Two-wheeler Market

DENVER , Oct. 13, 2022 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) will issue its third-quarter earnings release before the market opens on Friday, November 4, 2022.  Management will host a webcast and conference call on the same day at 10:00 a.m.

Gates Industrial Announces Third-Quarter 2022 Earnings Release Date

Let's see if Gates Industrial (GTES) stock is a good choice for value-oriented investors right now from multiple angles.

News for Gates Industrial Stock (GTES)