Gates Industrial Stock Price, News & Analysis

Gates Industrial Corporation plc (NYSE: GTES) announced its participation in the virtual 2021 Goldman Sachs Industrials & Materials Conference on May 11, 2021. CEO Ivo Jurek will present at 2:40 p.m. Eastern time. Investors can access the webcast of this presentation via the Gates Investor Relations website.

Gates is a global leader in power transmission and fluid power solutions, serving diverse sectors from agriculture to consumer applications. Its products are available in 128 countries across regions including the Americas, Europe, and Asia.

Gates (NYSE: GTES) has launched the MEGASys™ MXT™ with XtraTuff™ Plus cover (MXT-XTP), a new hydraulic hose featuring advanced wire-braid technology. The MXT-XTP hose is lightweight and up to 49% more flexible than conventional hoses, enhancing installation efficiency. It boasts 25 times greater abrasion resistance and improved ozone resistance, validated through extensive testing. This versatile hose meets international performance standards and is suitable for varied applications across multiple industries, simplifying inventory for customers.

Gates Industrial Corporation plc (NYSE:GTES) will release its first-quarter earnings on May 10, 2021, prior to market opening. Management will discuss the financial results during a conference call at 10:00 a.m. Eastern time. Investors can participate via phone at (844) 867-2998 (domestic) or +1 (647) 689-4555 (international), or join a live webcast on Gates' website. An audio replay will be available from 1:00 p.m. Eastern time on the same day until May 17, 2021.

Gates Industrial Corporation plc (NYSE:GTES) has issued an update regarding its performance expectations for the first quarter ending April 3, 2021, amidst concerns over supply chain disruptions. The company anticipates a substantial revenue increase of 21.5% to 22.5% year-over-year, surpassing previous guidance of 14.1% to 18.3%. Additionally, the expected Adjusted EBITDA margin is projected to be between 21.5% and 22.0%, indicating strong operational performance. A more comprehensive update will be provided during the earnings release in early May.

Gates (NYSE: GTES) has launched the Carbon Drive Moto X9™, a new synchronous drive belt optimized for motor-driven two-wheelers, including motorcycles and scooters. This innovative belt is designed to be lighter, quieter, and require minimal maintenance compared to traditional chain drives. The Moto X9 is strong and durable, offering OEMs options for more compact drivetrain designs while improving vehicle performance. Key features include a 9% narrower belt that can handle the same torque and up to 84% longer service life, enhancing customer satisfaction.

Gates Industrial Corporation (NYSE: GTES) announced its participation in the Evercore ISI Industrial Conference on March 2, 2021, at 3:20 p.m. Eastern Time. CEO Ivo Jurek will present during this virtual event. Gates, a global leader in power transmission and fluid power solutions, serves diverse industrial and consumer markets, operating in 128 countries. The company specializes in innovative products essential for various applications, including agriculture, manufacturing, and everyday consumer goods. For more details, visit the company's Investor Relations site.

Gates Industrial Corporation plc (NYSE: GTES) has announced the pricing of a secondary offering of 22 million ordinary shares at $15.00 per share, facilitated by certain selling stockholders associated with Blackstone Group. The offering will close on March 2, 2021, pending customary conditions. Gates will not receive any proceeds from this sale. The underwriters, including Citigroup and Evercore ISI, have an option to buy an additional 3.3 million shares within 30 days. This offering is conducted under an effective shelf registration statement.

On February 23, 2021, Gates Industrial Corporation plc (NYSE: GTES) announced a secondary offering of 22,000,000 ordinary shares by certain stockholders affiliated with The Blackstone Group Inc. This offering includes a 30-day option for underwriters to purchase an additional 3,300,000 shares. Gates will not benefit financially as it is not offering any shares and will not receive proceeds from the sale. The offering is conducted under an effective shelf registration statement, with Citigroup and Evercore ISI as lead managers.

Gates Industrial Corporation plc (NYSE: GTES) announced its participation in Citi's 2021 Global Industrials Conference on February 18, 2021, at 11:20 a.m. Eastern time. CEO Ivo Jurek will present during the virtual event. Interested parties can access the live webcast via the Gates Investor Relations website. Gates is known for its innovative power transmission and fluid power solutions, serving diverse industries and markets worldwide.