Gates Industrial Stock Price, News & Analysis

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.

Gates Industrial Corporation (GTES) reported a robust financial performance for Q3 2021, with net sales reaching $862.4 million, a 21.1% increase year-over-year. Core revenue grew 19.0%, driven by strong demand in industrial end markets. Net income attributable to shareholders rose to $70.2 million ($0.23 per diluted share), while adjusted net income was $92.0 million ($0.31 per diluted share). Adjusted EBITDA increased 31.4% to $183.9 million, with a margin of 21.3%. The company reduced net leverage to 2.7x from 4.8x, enhancing capital allocation flexibility. Despite external challenges, Gates maintains a positive outlook for future growth.

Gates Industrial Corporation (NYSE:GTES) will participate virtually in the Baird 2021 Global Industrial Conference on November 10, 2021. CEO Ivo Jurek is scheduled to present at 2:35 p.m. Eastern Time. Investors can access the webcast and presentation materials through the Events & Presentations section of the Gates Investor Relations website.

Gates is a global leader in power transmission and fluid power solutions, serving diverse markets and sectors including agriculture, construction, and consumer applications in 128 countries.

Gates (NYSE: GTES) expands its role in hybrid and battery electric vehicle markets with the launch of its ThermalPro™ electric water pump (EWP). This technology reflects significant investments in electronics and design, enhancing reliability and efficiency crucial for electric vehicles. With a capacity range from 100 Watts to 3 Kilowatts, ThermalPro includes a unique design isolating electronics from coolant exposure. Manufactured in North America, these pumps are now available for OEM and aftermarket applications globally, affirming Gates' commitment to innovation in vehicle thermal management solutions.

Gates Industrial Corporation (NYSE:GTES) is set to release its third-quarter earnings before the market opens on November 8, 2021. Management will conduct a conference call at 10:00 a.m. Eastern time to discuss the financial results. Investors can join the call by dialing (888) 414-4601 domestically or +1 (646) 960-0313 internationally. An audio replay will be available from 1:00 p.m. ET on the same day until November 15, 2021.

Gates (NYSE: GTES) has launched the MegaSys™ MXG™ 5K hydraulic hose, a pioneering product that is lighter, more flexible, and more durable than traditional 5000 psi hydraulic hoses. Incorporating Gates' patented Xpiral™ technology, the MXG 5K surpasses industry standards for pressure and impulse life, boasting a lifespan of over one million impulse cycles. It is 20% lighter and 25% more flexible than legacy hoses, enhancing safety and performance in demanding applications across various industries. The hose is available globally and meets rigorous regulatory standards.

Gates Industrial Corporation plc (NYSE:GTES) announced its participation in Morgan Stanley's 9th Annual Laguna Conference on September 14, 2021. CEO Ivo Jurek will present virtually at 2:15 p.m. Eastern time. Investors can access the webcast through the Gates Investor Relations website. Gates, a leading global manufacturer, offers a wide range of power transmission and fluid power solutions, serving various sectors including agriculture, construction, and consumer markets across 128 countries.