Gates Industrial Stock Price, News & Analysis

Gates Industrial Corporation plc (NYSE: GTES), a global leader in power transmission and fluid power solutions, will participate in the 2022 Barclays Industrial Select Conference in Miami, FL, on February 24, 2022. This participation highlights Gates' commitment to engaging with investors and industry stakeholders. The company operates in diverse markets, supplying essential products across industries such as agriculture, construction, and consumer applications, with a presence in 128 countries.

Gates Industrial Corporation plc (NYSE:GTES), a leading manufacturer of power transmission and fluid power solutions, will participate in Citi's 2022 Global Industrials Conference on February 23, 2022, at 4:20 p.m. Eastern time in Miami, FL. CEO Ivo Jurek will present at this significant event. Investors and interested parties can tune into the live webcast by visiting the Gates Investor Relations website. Gates serves diverse industries, with products available in 128 countries, highlighting its global reach and extensive applications.

Gates Industrial reported a 4Q 2021 net sales increase of 2.7% year-over-year, totaling $815.6 million. Net income rose to $62.7 million, or $0.21 per diluted share. For the full year, net sales grew 24.4% to $3.47 billion with net income of $297.1 million, or $1.00 per diluted share. The company is optimistic about 2022, projecting core revenue growth of 5% to 9% and Adjusted EBITDA of $755 million to $805 million. Despite operational challenges from inflation and supply chain issues, Gates is positioned for continued growth.

Motorcar Parts of America (Nasdaq: MPAA) has appointed Patricia (Tribby) W. Warfield to its board of directors, enhancing board diversity and corporate governance. With 11 directors, 10 are now independent. Warfield brings vast experience from her roles at APC Automotive Technologies and Kaman Corporation, along with significant international exposure during her time at Gates Corporation. Her insight is expected to support the company's growth in automotive aftermarket products amid favorable market conditions.

Gates (NYSE: GTES) has launched the ProV™ hydraulic hose line, expanding its PRO™ Series portfolio. Designed for diverse applications including agriculture and construction, these hoses meet EN 857 2SC and SAE 100 R16 standards, available in sizes -4 to -16. The launch aims to enhance Gates' positioning in existing and new markets by providing reliable and high-performance solutions. CMO Tom Pitstick emphasized the importance of these hoses in revitalizing the hydraulics portfolio and addressing modern demands.

Gates Industrial Corporation (NYSE:GTES) will release its fourth-quarter earnings on February 7, 2022, before market opening. A webcast and conference call will follow at 10:00 a.m. ET to discuss these financial results. Investors can participate by dialing (888) 414-4601 domestically or +1 (646) 960-0313 internationally. An audio replay will be available after the call until February 14, 2022. Gates is a global leader in power transmission and fluid power solutions, serving various markets worldwide.

Gates Industrial Corporation (NYSE:GTES) will join Credit Suisse's 9th Annual Global Industrials Conference on December 2, 2021, in a virtual format. As a global leader in innovative power transmission and fluid power solutions, Gates serves diverse markets including agriculture, construction, manufacturing, and consumer applications. Their products are marketed in 128 countries, addressing needs from harsh industrial environments to everyday consumer goods.

Gates Industrial Corporation (GTES) announced a share repurchase program, authorizing the buyback of up to $200 million of its ordinary shares. The program is valid until December 31, 2022, and repurchases will depend on market conditions and liquidity. The company aims to enhance shareholder value while maintaining flexibility in its investments. This decision reflects confidence in the company's performance and strategic future, although it does not commit to a specific acquisition amount. The program may be suspended or discontinued at the company's discretion.

Gates (NYSE: GTES) has expanded its exclusive partnership with Gogoro to enhance sustainable urban transportation. This collaboration includes the launch of FLO DRIVE™, a vehicle drivetrain system utilizing Gates Carbon Drive, available exclusively for Powered By Gogoro Network vehicle manufacturers. The partnership aims to foster electric micromobility and sustainability by offering durable and low-maintenance systems. Key innovations will be showcased at EICMA 2021 in Milan. Both companies emphasize a commitment to revolutionizing urban mobility ecosystems through advanced technologies and battery swapping.