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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GTES focuses on power transmission and fluid power solutions, serving customers across 130 countries. Recently announced their entry into the data cooling centers to provide liquid cooling solutions. GTES has exited FY23 on a high note with good momentum, driving further expansion in profitability margin for FY24 as they focus on material cost reduction and productivity enhancement. Rising infrastructure build-outs outside of the U.S. present a substantial growth opportunity for GTES throughout the next few years.

Gates Industrial: Maintaining Robust Margin With Plans For Market Extension

DENVER , May 22, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiary, Gates Corporation (the "Issuer" and, together with Gates, the "Company"), finalized the terms of the previously announced offering of $500.0 million aggregate principal amount of 6.875% Senior Notes due 2029 (the "notes"). The notes will be fully and unconditionally guaranteed by Gates Industrial Holdco Limited (the "Parent Guarantor"), an indirect parent company of the Issuer and the direct subsidiary of Gates, and certain other subsidiaries of the Parent Guarantor.

GATES ANNOUNCES PRICING OF $500 MILLION OF 6.875% SENIOR NOTES DUE 2029

DENVER, May 22, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiary, Gates Corporation (the "Issuer" and, together with Gates, the "Company"), intends to offer $500.0 million aggregate principal amount of Senior Notes due 2029 (the "notes"). The notes will be fully and unconditionally guaranteed by Gates Industrial Holdco Limited (the "Parent Guarantor"), an indirect parent company of the Issuer and the direct subsidiary of Gates, and certain other subsidiaries of the Parent Guarantor.

GATES ANNOUNCES INTENTION TO OFFER $500 MILLION OF SENIOR NOTES

DENVER , May 16, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today the pricing of the previously announced secondary offering of 17,500,000 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 2,625,000 additional ordinary shares.

GATES ANNOUNCES PRICING OF SECONDARY OFFERING OF 17,500,000 ORDINARY SHARES

DENVER , May 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 17,500,000 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 2,625,000 additional ordinary shares.

GATES ANNOUNCES SECONDARY OFFERING OF 17,500,000 ORDINARY SHARES

Gates Industrial Corporation plc (NYSE:GTES ) Q1 2024 Earnings Conference Call May 1, 2024 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 Nigel Coe – Wolfe Research David Tarantino – KeyBanc Capital Markets Steve Volkmann – Jefferies Jerry Revich – Goldman Sachs Damian Karas – UBS Andy Kaplowitz – Citigroup Julian Mitchell – Barclays Mike Halloran – Baird Deane Dray – RBC Capital Markets David Raso – Evercore Operator Thank you for standing by, and welcome to the Gates Industrial Corporation First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.

Gates Industrial Corporation plc (GTES) Q1 2024 Earnings Call Transcript

Gates Industrial (GTES) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.25 per share a year ago.

Gates Industrial (GTES) Q1 Earnings Beat Estimates

DENVER , May 1, 2024 /PRNewswire/ -- First-Quarter 2024 Financial Summary First-quarter net sales of $862.6 million, down 3.9% compared to the prior-year period, including core revenue decline of 3.6%. Net income attributable to shareholders of $40.0 million, or $0.15 per diluted share.

Gates Industrial Reports First-Quarter 2024 Results

DENVER , April 10, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) will issue its first-quarter earnings release before the market opens on Wednesday, May 1, 2024. Management will host a webcast and conference call on the same day at 10:00 a.m.

Gates Industrial Announces First-Quarter 2024 Earnings Release Date

Gates Industrial stock was downgraded to a 'Hold' rating due to uncertainty and bearish forward-looking EPS revisions last November. The company's Q4 earnings report showed a significant improvement in gross margin, adjusted EBITDA, and free cash flow trends. The positive momentum is expected to continue into fiscal 2024, with promising signs from enterprise initiatives and strong earnings growth potential.

Gates Industrial: Improving Profitability Outlook Finally Driving The Stock Forward

DENVER , March 11, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES), a global manufacturer of innovative and highly engineered power transmission and fluid power solutions, extends a reminder to investors, analysts and other stakeholders to join its Capital Markets Day on Monday, March 11, 2024, starting at 1:00 p.m. Eastern Time at The New York Stock Exchange (NYSE).

Reminder: Gates Industrial to Host Capital Markets Day on March 11, 2024

DENVER , March 6, 2024 /PRNewswire/ -- Gates (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions announces its collaboration and entry into the fast-growing and evolving data center cooling market with CoolIT Systems. CoolIT Systems is the world leader in scalable liquid cooling technology for the world's most demanding computing environments.

Gates Offers Advanced Solutions for Data Center Cooling

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Stock Offerings Prompt Big Insider Buying

Lighter more flexible high pressure hose improves ergonomics, productivity and safety DENVER , Feb. 20, 2024 /PRNewswire/ -- Gates (NYSE: GTES), a global manufacturer of highly engineered power transmission and fluid power solutions, announces the launch of the Clean Master Plus hose platform, the newest addition to Gates' industrial hose lineup, built for high pressure applications in demanding industrial environments. Clean Master Plus leverages innovation in advanced materials and wire reinforcement technology to operate at extremely high pressures of up to 6,000 psi, three times more than the average pressure washer hose.

GATES INTRODUCES CLEAN MASTER™ PLUS PRESSURE WASH HOSE

Award recognizes Gates' impact and commitment to  fostering a safe and empowering work environment for all DENVER , Feb. 13, 2024 /PRNewswire/ -- Gates  (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, humbly announces its recognition as one of America's Greatest Workplaces for Diversity 2024 by Newsweek and Plant-A Insights Group. This prestigious acknowledgment is the result of a survey involving over 220,000 individuals and encompassing representation of over 1.5 million company reviews across America.

GATES NAMED TO NEWSWEEK'S AMERICA'S GREATEST WORKPLACES 2024 FOR DIVERSITY

DENVER , Feb. 13, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today the pricing of the previously announced secondary offering of 17,500,000 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 2,625,000 additional ordinary shares.

Gates Announces Pricing of Secondary Offering of 17,500,000 Ordinary Shares

DENVER , Feb. 12, 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 17,500,000 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 2,625,000 additional ordinary shares.

Gates Announces Secondary Offering of 17,500,000 Ordinary Shares

Gates Industrial Corporation plc (GTES) Q4 2023 Earnings Call Transcript

DENVER , Feb. 8, 2024 /PRNewswire/ -- Fourth -Quarter 2023 Financial Summary Fourth-quarter net sales of $863.3 million, down 3.4% compared to the prior-year period, including a core revenue decline of 4.6%. Net income attributable to shareholders of $62.9 million, or $0.24 per diluted share.

Gates Industrial Reports Fourth-Quarter and Full Year 2023 Results

DENVER , Jan. 25, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) today announced that it has changed the time of its Fourth-Quarter 2023 webcast and conference call from 10 a.m. Eastern time to 9 a.m.

Gates Industrial Announces Time Change for Fourth-Quarter 2023 Conference Call

DENVER , Jan. 10, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) will issue its fourth-quarter earnings release before the market opens on Thursday, February 8, 2024. Management will host a webcast and conference call on the same day at 10:00 a.m.

Gates Industrial Announces Fourth-Quarter 2023 Earnings Release Date

DENVER , Jan. 9, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES), a global manufacturer of innovative and highly engineered power transmission and fluid power solutions, invites investors, analysts and other stakeholders to attend its Capital Markets Day on Monday, March 11, 2024 from 1:00 p.m. to 4:00 p.m.

Gates Industrial to Host Capital Markets Day on March 11, 2024

Gates Industrial (GTES) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Despite Fast-paced Momentum, Gates Industrial (GTES) Is Still a Bargain Stock

Gates Industrial Corp.'s stock GTES, +0.57% was down nearly 7.7% in premarket trading on Friday after the power transmission manufacturer said it priced a previously-announced secondary offering of 15 million shares. The sellers are stockholders affiliated with Blackstone Inc. BX, +1.56%.

Gates Industrial stock drops nearly 8% after company prices share offering

DENVER , Dec. 8, 2023 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today the pricing of the previously announced secondary offering of 15,000,000 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 2,250,000 additional ordinary shares.

News for Gates Industrial Stock (GTES)