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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 (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.
Gates Industrial Corporation plc (NYSE: GTES), a leading manufacturer of power transmission and fluid power solutions, is set to participate in the 2021 RBC Capital Markets Global Industrials Conference on September 9, 2021. The presentation, led by CEO Ivo Jurek, will commence at 4:00 p.m. Eastern time. Interested parties can access the webcast by visiting the Investor Relations section of Gates' website. Gates operates across diverse sectors, serving customers in 128 countries with a wide range of applications from industrial to consumer markets.
Gates Industrial Corporation plc (NYSE: GTES) has priced a secondary offering of 25,000,000 ordinary shares at $16.00 per share, facilitated by selling stockholders linked to The Blackstone Group. An additional 3,750,000 shares may be purchased by underwriters within 30 days. The offering is set to close on August 16, 2021. Gates will not receive proceeds from this sale as it does not offer any shares. The offering is conducted under an effective shelf registration statement, with Citigroup and Evercore ISI leading the underwriting process.
Gates Industrial Corporation announced a secondary offering of 25 million ordinary shares, initiated by certain stockholders affiliated with The Blackstone Group. The underwriters will have a 30-day option to purchase an additional 3.75 million shares. Gates is not offering any shares and will not receive proceeds from this sale. Citigroup and Evercore ISI are the joint lead book-running managers. This offering is made under an effective shelf registration statement, with details available in a prospectus.
Gates Industrial Corporation reported a robust second quarter for 2021, with net sales rising 58.7% to $915.1 million, driven by a 51.0% growth in core revenue. Net income reached $96.9 million, or $0.33 per diluted share, compared to a net loss of $22.4 million in the prior year. Adjusted EBITDA surged 159.6% to $216.0 million, marking a 920 basis point margin expansion. The company increased its full-year guidance, expecting core revenue growth of 20.0% to 22.0% for 2021. CEO Ivo Jurek highlighted operational challenges but praised the company’s recovery and growth potential.
Gates Industrial Corporation (NYSE:GTES) will release its second-quarter earnings on August 9, 2021, before the market opens. A conference call is scheduled for 10:00 a.m. Eastern time on the same day to discuss the financial results. Interested parties can join the call by dialing (844) 867-2998 domestically or +1 (647) 689-4555 internationally. An audio replay will be available from 1:00 p.m. Eastern time on August 9 until August 16. Gates Industrial operates globally, providing extensive power transmission and fluid power solutions across various industry sectors.
Gates (NYSE: GTES) announced the launch of new thermoplastic polyurethane (TPU) belts, the Gates Parabolic Pitch (GPP), available in 8mm and 14mm profiles. These belts provide superior strength, durability, and quieter operation compared to rubber belts and steel cables, with some variants lasting up to five times longer. The GPP 14-RSL boasts the highest break strength in its category. Designed for various industrial applications, GPP belts enhance Gates' existing TPU product range and are currently available in North America and EMEA regions.