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 (NYSE: GTES) provides engineered power transmission and fluid power solutions to critical industries worldwide. This news hub offers investors and industry professionals direct access to official corporate announcements and market-relevant developments.
Track comprehensive updates including quarterly earnings, product innovations, strategic partnerships, and operational milestones. Our curated collection ensures timely access to filings, press releases, and material events affecting this industrial manufacturing leader.
Key coverage areas include advancements in hydraulic systems, belt technology improvements, global expansion initiatives, and sustainability efforts. Regular updates reflect GTES's role in automotive, construction, and energy sectors where component reliability is paramount.
Bookmark this page for streamlined monitoring of Gates Industrial's business trajectory. Combine historical context with real-time updates to inform your analysis of this NYSE-listed industrial solutions provider.
Gates (NYSE: GTES) has launched the mobile version of its award-winning Gates Design Power, enabling advanced digital design tools for belt drive systems on mobile devices. This initiative aims to convert legacy drive technologies to low-maintenance Gates belt drives. The app features five new support modules and an enhanced Design Flex Pro™, improving usability and accuracy. Notable tools include Facility Management for managing power transmission projects, a Sonic Tension Meter, Flashlight RPM Meter, and more. The app is available globally on Apple and Android stores in 15 languages, showcasing Gates' commitment to enhancing machine design efficiency.
Gates Industrial Corporation plc (NYSE: GTES) is set to release its first-quarter earnings before the market opens on May 4, 2023. Management will conduct a conference call to discuss the financial results at 11:30 a.m. Eastern time on the same day. Interested parties can join the call by dialing (888) 414-4601 (domestic) or +1 (646) 960-0313 (international), providing the Conference ID 5772067. A live webcast will also be available on Gates' investor relations website. An audio replay of the call will be accessible from 2:30 p.m. Eastern time on May 4 until 11:59 p.m. Eastern time on May 11, 2023. Gates Industrial is a global manufacturer of power transmission and fluid power solutions, with a diverse product portfolio sold across over 130 countries.
Gates Industrial Corporation plc (NYSE:GTES) has announced its participation in key investor conferences in February and March 2023. CEO Ivo Jurek will present at the Citi Global Industrial Tech and Mobility Conference in Miami on February 21 at 3:30 p.m. Eastern, and at the Barclays Industrial Select Conference on February 22 at 3:00 p.m. Eastern. CFO Brooks Mallard will present at the Evercore ISI Industrial Conference in New York on March 7 at 2:20 p.m. Eastern. Stakeholders can access live webcasts of these presentations through the Gates Investor Relations website.
Gates Industrial reported a strong Q4 2022, with net sales of $893.3 million, marking a 9.5% increase year-over-year. Core revenue grew 16.0%, yet faced a 6.5% negative foreign currency impact. Net income attributable to shareholders stood at $84.9 million or $0.30 per diluted share, while adjusted net income was $71.2 million ($0.25 per diluted share). Full-year sales hit $3,554.2 million (up 2.3%), with net income at $220.8 million. The company anticipates 2023 core revenue growth of 1% to 5% and adjusted EBITDA between $700 million to $750 million.
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