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Gates Industrial Corporation plc - GTES STOCK NEWS

Welcome to our dedicated news page for Gates Industrial Corporation plc (Ticker: GTES), a resource for investors and traders seeking the latest updates and insights on Gates Industrial Corporation plc.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Gates Industrial Corporation plc's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Gates Industrial Corporation plc's position in the market.

Rhea-AI Summary
Gates Industrial plc (GTES) will release its first-quarter earnings on May 1, 2024, followed by a conference call to discuss financial results. Investors can access the call through various channels and an audio replay will be available.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.4%
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Rhea-AI Summary
Gates Industrial Corporation plc (NYSE: GTES) invites investors to its Capital Markets Day to discuss strategic priorities, growth opportunities, and financial performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.48%
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conferences
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Rhea-AI Summary
Global Tech Solutions (GTES) announces a strategic partnership with a leading pharmaceutical company to develop innovative healthcare solutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.56%
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none
Rhea-AI Summary
GTES introduces a new high-pressure hose that enhances ergonomics, productivity, and safety, offering a lighter and more flexible design.
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Rhea-AI Sentiment
End-of-Day
0.08%
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Rhea-AI Summary
Gates Industrial Corporation plc (GTES) CEO, Ivo Jurek, to participate in fireside chats at investor conferences. Live webcasts available on Gates Investor Relations website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.74%
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conferences
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Rhea-AI Summary
Gates (GTES) receives an award for its dedication to creating a safe and empowering work environment. The company's commitment to employee well-being and inclusivity is recognized, highlighting its positive workplace culture.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.23%
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none
Rhea-AI Summary
Gates Industrial Corporation plc (GTES) announces a secondary offering of 17.5 million ordinary shares by selling stockholders affiliated with Blackstone Inc. The underwriters have an option to purchase an additional 2.6 million shares. Gates is not offering any shares and will not receive proceeds. The offering is expected to close on February 16, 2024. Gates also plans a $50 million share repurchase program with Citigroup Global Markets Inc.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.23%
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none
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Rhea-AI Summary
Gates Industrial Corporation plc (NYSE: GTES) announced a secondary offering of 17,500,000 ordinary shares by selling stockholders affiliated with Blackstone Inc. The underwriters may purchase an additional 2,625,000 shares. Gates is not offering any shares and will not receive proceeds. Gates also entered a $50 million share repurchase contract with Citigroup Global Markets Inc. Certain directors expressed interest in purchasing 1,050,000 shares.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.23%
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none
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Rhea-AI Summary
Gates Industrial Corporation plc (GTES) reported fourth-quarter net sales of $863.3 million, down 3.4% compared to the prior year, with a core revenue decline of 4.6%. Adjusted EBITDA was $185.8 million, and the company introduced 2024 financial guidance. Full-year 2023 net sales were $3,570.2 million, representing 0.5% growth, including core revenue growth of 0.7%. Net income attributable to shareholders was $232.9 million, and the company generated $481.0 million of operating cash flow, an increase from the prior year. CEO Ivo Jurek highlighted strong margin expansion and robust operating cash flow in the fourth quarter, with a focus on reducing the net leverage ratio and utilizing the approved $100 million share repurchase authorization.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.51%
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Rhea-AI Summary
Gates Industrial Corporation plc (GTES) has rescheduled its Fourth-Quarter 2023 webcast and conference call from 10 a.m. to 9 a.m. Eastern time on February 8, 2024. Access information remains the same. The live webcast can be accessed through Gates Industrial's website. An audio replay will be available until February 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.85%
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Gates Industrial Corporation plc

NYSE:GTES

GTES Rankings

GTES Stock Data

4.54B
189.60M
0.58%
92.98%
2.99%
Mechanical Power Transmission Equipment Manufacturing
Manufacturing
Link
US
Denver

About GTES

gates is the world’s leading manufacturer of power transmission belts and a premier global manufacturer of fluid power products. our highly engineered products are critical components used in diverse industrial and automotive applications where the cost of failure is very high relative to the cost of our products. we provide a differentiated value proposition to our customers by offering a complete portfolio of premium product and service solutions for both replacement and first-fit applications across our targeted end markets, which encompass process and specialty, construction, agriculture, energy, transportation and automotive. we sell our products globally under the gates brand, which is recognized by distributors, original equipment manufacturers and installers as the premium brand for quality and technological innovation, a reputation which we have built for over a century since our founding in 1911. if it moves you, there’s a good chance gates has a part in it. gates. powering