Gates Industrial Corporation plc (GTES) reports developments as a global manufacturer of engineered power transmission and fluid power solutions. Its Power Transmission products convey power and control motion, while its Fluid Power products include hose and rigid tubing assemblies used to transfer hydraulic power or move fluids, gases and granular materials.
Recurring news covers quarterly and annual operating results, guidance, cash flow, balance sheet commentary, share repurchase activity and investor-conference presentations. Company updates also describe its OEM specified-component business, replacement-channel customers, and sales across the Americas, Europe, Middle East & Africa, Greater China, and East Asia & India.
Gates Industrial Corporation plc (NYSE: GTES) is set to release its first-quarter earnings before the market opens on May 4, 2023. Management will conduct a conference call to discuss the financial results at 11:30 a.m. Eastern time on the same day. Interested parties can join the call by dialing (888) 414-4601 (domestic) or +1 (646) 960-0313 (international), providing the Conference ID 5772067. A live webcast will also be available on Gates' investor relations website. An audio replay of the call will be accessible from 2:30 p.m. Eastern time on May 4 until 11:59 p.m. Eastern time on May 11, 2023. Gates Industrial is a global manufacturer of power transmission and fluid power solutions, with a diverse product portfolio sold across over 130 countries.
Gates Industrial Corporation plc (NYSE:GTES) has announced its participation in key investor conferences in February and March 2023. CEO Ivo Jurek will present at the Citi Global Industrial Tech and Mobility Conference in Miami on February 21 at 3:30 p.m. Eastern, and at the Barclays Industrial Select Conference on February 22 at 3:00 p.m. Eastern. CFO Brooks Mallard will present at the Evercore ISI Industrial Conference in New York on March 7 at 2:20 p.m. Eastern. Stakeholders can access live webcasts of these presentations through the Gates Investor Relations website.
Gates Industrial reported a strong Q4 2022, with net sales of $893.3 million, marking a 9.5% increase year-over-year. Core revenue grew 16.0%, yet faced a 6.5% negative foreign currency impact. Net income attributable to shareholders stood at $84.9 million or $0.30 per diluted share, while adjusted net income was $71.2 million ($0.25 per diluted share). Full-year sales hit $3,554.2 million (up 2.3%), with net income at $220.8 million. The company anticipates 2023 core revenue growth of 1% to 5% and adjusted EBITDA between $700 million to $750 million.
Gates Industrial Corporation plc (NYSE:GTES) will release its fourth-quarter earnings before market open on February 9, 2023. A conference call will take place at 10:00 a.m. Eastern time the same day to discuss financial results. Interested parties can join the call via phone (domestic: 888-414-4601, international: +1 646-960-0313) or by accessing a live webcast on Gates' investor website.
A replay will be available from 1:00 p.m. on February 9 until 11:59 p.m. on February 16.
Gates Industrial reported Q3 2022 net sales of $860.7 million, with core revenue growth of 7.6%. Net income attributable to shareholders was $51.9 million or $0.18 per diluted share. Adjusted EBITDA stood at $177.7 million, reflecting a margin of 20.6%. Despite a 0.2% decrease in net sales year-over-year, the company observed stable order rates and a growing backlog. Challenges remain due to supply chain disruptions and inflation. The company is initiating a footprint optimization plan to enhance operational efficiency as it prepares for 2023.
Gates Industrial Corporation (NYSE:GTES) will participate in the Baird 2022 Global Industrial Conference in Chicago, Illinois, on November 9, 2022. The CEO, Ivo Jurek, is scheduled to present at 4:40 p.m. Central Time. Interested parties can access the webcast and presentation materials on the Gates Investor Relations website. Gates is renowned for its engineered power transmission and fluid power solutions, serving various sectors globally, with products sold in 128 countries.
Gates (NYSE: GTES) has launched the Carbon Drive Moto X5™, a new synchronous drive belt aimed at electric scooters and motorcycles. This product enhances performance by being 15 decibels quieter than traditional chains and offers improved energy efficiency, crucial for electric vehicles. The Moto X5 is designed to capitalize on the growing demand for electric two-wheelers, particularly in Asia, where over 10 million units were registered in 2021. Gates anticipates increased importance of drivetrain noise reduction and durability as the market shifts from internal combustion engines.
Gates Industrial Corporation (NYSE:GTES) will release its third-quarter earnings on November 4, 2022, before market opening. Management will host a webcast and conference call at 10:00 a.m. Eastern time to discuss the financial results. Investors can participate by dialing (888) 414-4601 for domestic calls or +1 (646) 960-0313 internationally. An audio replay will be available from 1:00 p.m. Eastern time on the same day until November 11, 2022, accessible via a dedicated phone line or Gates’ website.
Gates Industrial Corporation (NYSE:GTES) announced its participation in Morgan Stanley's 10th Annual Laguna Conference on September 16, 2022, at 10:35 a.m. Eastern time in Dana Point, California. CEO Ivo Jurek will present during the event. Investors can access a webcast of the presentation via the Gates Investor Relations website. Gates, a global leader in power transmission and fluid power solutions, operates in various sectors and sells products in 128 countries, serving both industrial and consumer markets.
Gates Industrial Corporation plc (NYSE:GTES) announced its participation in the 2022 RBC Capital Markets Global Industrials Conference on September 14, 2022, in Las Vegas, Nevada. As a leading global manufacturer, Gates specializes in innovative power transmission and fluid power solutions, serving diverse markets from agriculture to consumer products. Their extensive product range is available in 128 countries, catering to various sectors within the industrial and consumer landscape.