Gates Industrial Stock Price, News & Analysis

Gates Industrial reported Q3 2022 net sales of $860.7 million, with core revenue growth of 7.6%. Net income attributable to shareholders was $51.9 million or $0.18 per diluted share. Adjusted EBITDA stood at $177.7 million, reflecting a margin of 20.6%. Despite a 0.2% decrease in net sales year-over-year, the company observed stable order rates and a growing backlog. Challenges remain due to supply chain disruptions and inflation. The company is initiating a footprint optimization plan to enhance operational efficiency as it prepares for 2023.

Gates Industrial Corporation (NYSE:GTES) will participate in the Baird 2022 Global Industrial Conference in Chicago, Illinois, on November 9, 2022. The CEO, Ivo Jurek, is scheduled to present at 4:40 p.m. Central Time. Interested parties can access the webcast and presentation materials on the Gates Investor Relations website. Gates is renowned for its engineered power transmission and fluid power solutions, serving various sectors globally, with products sold in 128 countries.

Gates (NYSE: GTES) has launched the Carbon Drive Moto X5™, a new synchronous drive belt aimed at electric scooters and motorcycles. This product enhances performance by being 15 decibels quieter than traditional chains and offers improved energy efficiency, crucial for electric vehicles. The Moto X5 is designed to capitalize on the growing demand for electric two-wheelers, particularly in Asia, where over 10 million units were registered in 2021. Gates anticipates increased importance of drivetrain noise reduction and durability as the market shifts from internal combustion engines.

Gates Industrial Corporation (NYSE:GTES) will release its third-quarter earnings on November 4, 2022, before market opening. Management will host a webcast and conference call at 10:00 a.m. Eastern time to discuss the financial results. Investors can participate by dialing (888) 414-4601 for domestic calls or +1 (646) 960-0313 internationally. An audio replay will be available from 1:00 p.m. Eastern time on the same day until November 11, 2022, accessible via a dedicated phone line or Gates’ website.

Gates Industrial Corporation (NYSE:GTES) announced its participation in Morgan Stanley's 10th Annual Laguna Conference on September 16, 2022, at 10:35 a.m. Eastern time in Dana Point, California. CEO Ivo Jurek will present during the event. Investors can access a webcast of the presentation via the Gates Investor Relations website. Gates, a global leader in power transmission and fluid power solutions, operates in various sectors and sells products in 128 countries, serving both industrial and consumer markets.

Gates Industrial Corporation plc (NYSE:GTES) announced its participation in the 2022 RBC Capital Markets Global Industrials Conference on September 14, 2022, in Las Vegas, Nevada. As a leading global manufacturer, Gates specializes in innovative power transmission and fluid power solutions, serving diverse markets from agriculture to consumer products. Their extensive product range is available in 128 countries, catering to various sectors within the industrial and consumer landscape.

Gates Industrial Corporation (NYSE: GTES) reported second-quarter 2022 net sales of $906.8 million, down 0.9% year-over-year, with core revenue growth of 3.6%. Net income attributable to shareholders was $53.1 million, or $0.19 per diluted share. Adjusted Net Income reached $90.2 million ($0.32 per diluted share) while Adjusted EBITDA was $180.1 million. Despite challenges from supply chain issues and the suspension of business in Russia, core revenue grew, particularly in Mobility and Diversified Industrial markets. For 2022, the company anticipates core revenue growth of 6-9% and Adjusted EBITDA of $705-$755 million.

Gates Industrial Corporation (NYSE:GTES) will announce its second-quarter earnings before the market opens on August 5, 2022. Management will hold a webcast and conference call at 10:00 a.m. Eastern time to discuss the financial results. Interested parties can participate via dialing options or through a live webcast on Gates' investor website. An audio replay will be available from 1:00 p.m. Eastern time on the same day until August 12, 2022. Gates provides advanced power transmission and fluid power solutions globally, servicing various industrial and consumer sectors.