Welcome to our dedicated page for Gates Industrial news (Ticker: GTES), a resource for investors and traders seeking the latest updates and insights on Gates Industrial stock.
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) will participate in the 2021 UBS Global Industrials and Transportation Virtual Conference on June 8, 2021. CEO Ivo Jurek is set to present at 4:00 p.m. Eastern time. The event will be available via a webcast on the company's investor relations website. Gates specializes in power transmission and fluid power solutions, serving various industries from agriculture to consumer markets in 128 countries.
Gates Industrial Corporation plc (NYSE:GTES) will participate in the virtual 2021 KeyBanc Industrials & Basic Materials Conference on June 3, 2021. Gates is a global leader in manufacturing innovative power transmission and fluid power solutions, serving a diverse range of industries, from agriculture and construction to consumer applications like printers and vacuum cleaners. Their products are available in 128 countries, showcasing their extensive market reach across the Americas, Europe, Greater China, and East Asia & India.
Gates Industrial Corporation plc (NYSE: GTES) announced its participation in the virtual 2021 Wolfe Research Global Transportation & Industrials Conference on May 27, 2021. CEO Ivo Jurek will present at 9:40 a.m. Eastern time. Interested parties can access the webcast by visiting the Events & Presentations section of Gates' Investor Relations website.
Gates is known for its engineered power transmission and fluid power solutions, serving diverse industries globally.
In Q1 2021, Gates Industrial (GTES) reported a 24.1% increase in net sales to $881.3 million, with core revenue growth of 21.0%. Net income attributable to shareholders rose 89.0% to $67.3 million, or $0.23 per diluted share. Adjusted EBITDA reached $196.3 million, a 62.5% increase, with a margin of 22.3%, reflecting an expansion of 530 basis points. The company has raised its 2021 outlook for core revenue growth to 19.5% and adjusted EBITDA margin to 22.0%-22.8%. Strength was noted across multiple end markets, though challenges remain in raw material and labor availability.
Summary not available.
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.