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 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 , Nov. 4, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that management will participate in fireside chats at the following upcoming investor conferences: The Baird Global Industrial Conference on Wednesday, November 13, 2024 at 4:05 p.m. Central time.

Gates Industrial to Participate in Upcoming Investor Conferences

DENVER , Oct. 31, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today that certain selling stockholders affiliated with Blackstone Inc. have commenced a secondary offering of 11,635,224 of Gates' ordinary shares (the "Offering"). Gates is not offering any ordinary shares in the Offering and will not receive any proceeds from the sale of ordinary shares in the Offering.

GATES ANNOUNCES SECONDARY OFFERING OF 11,635,224 ORDINARY SHARES

Gates Industrial Corporation plc (NYSE:GTES ) Q3 2024 Earnings Conference Call October 30, 2024 11:00 AM ET Company Participants Rich Kwas - Vice President-Investor Relations Ivo Jurek - Chief Executive Officer Brooks Mallard - Chief Financial Officer Conference Call Participants Jeff Hammond - KeyBanc Nigel Coe - Wolfe Research Damian Karas - UBS Julian Mitchell - Barclays Deane Dray - RBC Mike Halloran - Baird Clay Williams - Goldman Sachs David Raso - Evercore ISI Andrew Kaplowitz - Citi Operator Thank you for standing by. My name is Briana, and I will be your conference operator today.

Gates Industrial Corporation plc (GTES) Q3 2024 Earnings Call Transcript

Although the revenue and EPS for Gates Industrial (GTES) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Gates Industrial (GTES) Q3 Earnings: A Look at Key Metrics

Gates Industrial (GTES) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.35 per share a year ago.

Gates Industrial (GTES) Q3 Earnings and Revenues Top Estimates

DENVER , Oct. 30, 2024 /PRNewswire/ --  Third -Quarter 2024 Financial Summary Third-quarter net sales of $830.7 million, down 4.8% compared to the prior-year period and representing a core sales decline of 3.8% year-over-year. Net income attributable to shareholders of $47.6 million, or $0.18 per diluted share.

Gates Industrial Reports Third-Quarter 2024 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.

Earnings Preview: Gates Industrial (GTES) Q3 Earnings Expected to Decline

DENVER , Oct. 8, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) will issue its third-quarter earnings release before the market opens on Wednesday, October 30, 2024. Management will host a webcast and conference call on the same day at 11:00 a.m.

Gates Industrial Announces Third-Quarter 2024 Earnings Release Date

On September 30, 2024, Allspring Global Investments Holdings, LLC (Trades, Portfolio) made a significant addition to its investment portfolio by acquiring an additional 303,353 shares of Gates Industrial Corp PLC (GTES, Financial). This transaction, executed at a price of $17.55 per share, increased Allspring's total holdings in the company to 14,929,377 shares.

Allspring Global Investments Holdings, LLC Expands Stake in Gates Industrial Corp PLC

Gates introduces a new Data Master Cooling Hose to address the rising demand from high-performance data centers.

GTES Enhances Data Center Solutions With New Cooling Hose

Expanding its cutting-edge portfolio of data center cooling solutions, the Data Master™ Cooling Hose provides flexibility, performance, and cleanliness designed for high-performance computing environments DENVER , Sept. 10, 2024 /PRNewswire/ -- Gates  (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, is continuing to drive innovation for the data center cooling market with the upcoming launch of the Data Master™ Data Center Cooling Hose.

GATES EXPANDS DATA CENTER COOLING PORTFOLIO WITH LAUNCH OF NEW DATA MASTER™ HOSE

Gates Industrial Corporation stock remains a 'Buy' due to improving profitability trends, despite a recent 8% decline in stock performance over the past 5+ months. Technical analysis shows a bullish ascending triangle pattern with increased buying volume and MACD bullish divergence, suggesting potential for higher highs soon. Q2 results highlighted a 270 bps gross margin improvement and a 6% rise in adjusted EPS, indicating strong profitability despite a 4% revenue drop.

Gates Industrial: Growing Margins Paving Way To A Higher Stock Price

Sixth Annual Report Highlights Continued Progress in Four Pillars of Sustainability Strategy: Governance, Technology, Environment, and Stewardship DENVER , Sept. 6, 2024 /PRNewswire/ --  Gates  (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, has published its annual Sustainability Report for 2023.

Gates Releases 2023 Corporate Sustainability Report

DENVER , Aug. 27, 2024 /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 12th Annual Laguna Conference in Dana Point, California, on Wednesday, September 11, 2024. Brooks Mallard, Chief Financial Officer, will present at 9:55 am Pacific time.

Gates Industrial to Participate in Morgan Stanley's 12th Annual Laguna Conference

DENVER , Aug. 16, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today the pricing of the previously announced secondary offering of 20,000,000 ordinary shares (the "Offering") by certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders"). The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to 3,000,000 additional ordinary shares.

GATES ANNOUNCES PRICING OF SECONDARY OFFERING OF 20,000,000 ORDINARY SHARES

DENVER , Aug. 15, 2024 /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 20,000,000 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 3,000,000 additional ordinary shares.

GATES ANNOUNCES SECONDARY OFFERING OF 20,000,000 ORDINARY SHARES

Gates Industrial Corporation plc (NYSE:GTES ) Q2 2024 Results Conference Call July 31, 2024 9:00 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 Jeff Hammond - KeyBanc Capital Markets Nigel Coe - Wolfe Research Julian Mitchell - Barclays Deane Dray - RBC Capital Markets Andy Kaplowitz - Citigroup Clay Williams - Goldman Sachs Operator Thank you for standing by, and welcome to the Gates Industrial Corporation Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.

Gates Industrial Corporation plc (GTES) Q2 2024 Earnings Call Transcript

Gates Industrial (GTES) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.36 per share a year ago.

Gates Industrial (GTES) Tops Q2 Earnings Estimates

DENVER , July 31, 2024 /PRNewswire/ -- Second -Quarter 2024 Financial Summary Second-quarter net sales of $885.5 million, down 5.4% compared to the prior-year period and representing a core sales decline of 4.0% year-over-year. Net income attributable to shareholders of $70.7 million, or $0.26 per diluted share.

Gates Industrial Reports Second-Quarter 2024 Results

DENVER , July 17, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) today announced that it has changed the time of its second-quarter 2024 webcast and conference call from 10 a.m. Eastern time to 9 a.m.

Gates Industrial Announces Time Change for Second-Quarter 2024 Conference Call

A. O. Smith

Fluor

As of July 17, 2024, three stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Top 3 Industrials Stocks That Could Sink Your Portfolio This Month

Abercrombie & Fitch

Equitrans Midstream

NEW YORK , July 16, 2024 /PRNewswire/ -- S&P SmallCap 600 constituent Abercrombie & Fitch Co. (NYSE:ANF) will replace Equitrans Midstream Corp. (NYSE:ETRN) in the S&P MidCap 400, and Gates Industrial Corporation plc (NYSE:GTES) will replace Abercrombie & Fitch in the S&P SmallCap 600 effective prior to the opening of trading on Monday, July 22. S&P 500 constituent EQT Corp. (NYSE: EQT) is acquiring Equitrans Midstream in a deal expected to close soon, pending final closing conditions.

Abercrombie & Fitch Set to Join S&P MidCap 400; Gates Industrial to Join S&P SmallCap 600

DENVER , July 9, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) will issue its second-quarter earnings release before the market opens on Wednesday, July 31, 2024. Management will host a webcast and conference call on the same day at 10:00 a.m.

Gates Industrial Announces Second-Quarter 2024 Earnings Release Date

Sterling Construction

Amid macroeconomic headwinds, the public sector is encouraging for the industry. Let's find out whether Gates (GTES) or Sterling (STRL) is a better Engineering - R and D Services stock.

Gates (GTES) vs. Sterling (STRL): Which is a More Profitable Pick?

DENVER, June 17, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) is pleased to announce the appointment of John Patouhas as Senior Vice President & Chief Accounting Officer, effective today, Monday, June 17, 2024.  John will be responsible for the strategic direction of Gates' accounting function, including financial reporting, risk, controls, and compliance in accordance with applicable standards, laws and regulations.

News for Gates Industrial Stock (GTES)