Gates Industrial Q3 core revenue +7.6%; guides FY22 adjusted EBITDA $660-$690M

Gates Industrial Corp plc

2022-Q3 EPS reported $0.47 revenue$2,660,900,000

Net sales $860.7M, core +7.6% offset by 7.8% FX headwind; net income $51.9M ($0.18 diluted EPS).
Adjusted net income $89.4M ($0.31 diluted EPS); adjusted EBITDA $177.7M (20.6% margin).
Power Transmission core +5.0% but net sales -4.9% on FX; Fluid Power core +12.1%, net sales +8.1%.
FY 2022 outlook: core rev growth 5.5%-8.0%, adjusted EBITDA $660M-$690M, adj. EPS $1.07-$1.15.
Initiating next phase of footprint optimization plan; capex ~$100M, FCF conversion ~50% of adj. net income.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Gates Industrial Corp plc reported the third quarter ended October 1, 2022 results: revenue $860.7 million, net income $51.9 million, EPS $0.18 per diluted share.

Period: the third quarter ended October 1, 2022
Revenue: $860.7 million
Net income: $51.9 million
EPS: $0.18 per diluted share
Result: reported results

Exact text from the filing

in that filing. --- EX-99.1 (EX-99.1) --- Gates Industrial Reports Third-Quarter 2022 Results Denver, CO, November 4, 2022 Third-Quarter 2022 Highlights ◦ Net sales of $860.7 million, including core revenue growth of 7.6%. ◦ Net income attributable to shareholders of $51.9 million, or $0.18 per diluted share. ◦ Adjusted Net Income of $89.4 million, or $0.31

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Source: SEC EDGAR

accession 0001718512-22-000055

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