secwatch.observer — SEC 8-K summary
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Issuer:     Gates Industrial Corp plc (GTES)
CIK:        0001718512
Form:       8-K
Filed at:   2021-11-08T23:59:59+00:00
Accession:  0001718512-21-000060
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gates Industrial Q3 record revenue $862.4M (+21.1%); cuts FY margin outlook to 21.0-21.5%
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- Net sales $862.4M, up 21.1% YoY (core +19.0%); net income $70.2M ($0.23 diluted).
- Adjusted Net Income $92.0M ($0.31 diluted); Adj EBITDA $183.9M (+31.4%), margin 21.3% (+160 bps).
- Power Transmission sales $549.4M (+17.1%), Fluid Power $313.0M (+28.8%).
- Net leverage reduced to 2.7x from 4.8x; cash from ops $101.7M.
- FY2021 outlook: core revenue growth 20-22% maintained; Adj EBITDA margin lowered to 21.0-21.5% from 22.2-22.8%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718512/000171851221000060/0001718512-21-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718512/000171851221000060/gtes-20211108.htm
  HTML page:      https://secwatch.observer/filing/0001718512-21-000060

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