Gates Industrial Q4 net sales up 9.5% to $893.3M; core revenue growth 16.0%; 2023 guidance issued

Gates Industrial Corp plc

2022-FY EPS reported $0.77 revenue$3,554,200,000

Q4 net income attributable to shareholders $84.9M ($0.30 diluted EPS), up from $62.7M ($0.21) YoY.
Q4 Adjusted EBITDA $166.0M (18.6% margin), up 150 bps from 17.1% YoY.
Full-year net sales $3,554.2M (+2.3% reported, +7.6% core); adjusted net income $329.0M ($1.14/share), down from $408.1M ($1.37).
Fluid Power segment Q4 margin expanded 380 bps to 18.8%; Power Transmission core growth led by Personal Mobility and Energy.
2023 outlook: core revenue growth 1-5%; Adj. EBITDA $700-750M; Adj. EPS $1.13-1.23; FCF conversion ~100%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Gates Industrial Corp plc reported the fourth quarter of 2022 and full year ended December 31, 2022 results: net income $84.9 million, or $0.30 per diluted share, EPS $0.30 per diluted share.

Period: the fourth quarter of 2022 and full year ended December 31, 2022
Net income: $84.9 million, or $0.30 per diluted share
EPS: $0.30 per diluted share
Result: reported results

Exact text from the filing

On February 9, 2023, Gates Industrial Corporation plc announced its financial results and operating highlights for the fourth quarter of 2022 and full year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001718512-23-000010

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