---
schema_version: "secwatch.filing_event.v1"
accession: "0001718512-23-000030"
form_type: "8-K"
ticker: "GTES"
cik: "0001718512"
company_name: "Gates Industrial Corp plc"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T22:27:28.295480+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Gates Industrial Q1 net sales $897.7M, core growth 4.0%; Board authorizes $250M buyback

## Summary
- Revenue $897.7M (+0.5% YoY), core growth 4.0%; diluted GAAP EPS $0.09.
- Adjusted EBITDA $174.5M (19.4% margin, +180bps YoY); adjusted EPS $0.25.
- Power Transmission segment sales $548.1M (-1.3%); Fluid Power sales $349.6M (+3.5%).
- Board authorized up to $250M share repurchase program through Oct 2024.
- FY2023 guidance reaffirmed: core revenue growth 1-5%, Adjusted EBITDA $700-750M, adj EPS $1.13-$1.23.

## SEC filing metadata
- accession: 0001718512-23-000030
- form_type: 8-K
- ticker: GTES
- cik: 0001718512
- company_name: Gates Industrial Corp plc
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000030/0001718512-23-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000030/gtes-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001718512-23-000030
- JSON: https://secwatch.observer/filing/0001718512-23-000030.json
- Plain text: https://secwatch.observer/filing/0001718512-23-000030.txt

## Key facts
- Earnings Releases
  Gates Industrial Corp plc reported first quarter of 2023 results: revenue $897.7 million, net income $26.4 million, EPS $0.09 per diluted share. Guidance reaffirmed.
  - Period: first quarter of 2023
  - Revenue: $897.7 million
  - Net income: $26.4 million
  - EPS: $0.09 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: --- EX-99.1 (EX-99.1) --- Gates Industrial Reports First-Quarter 2023 Results Denver, CO, May 4, 2023 First-Quarter 2023 Financial Summary ◦ Record first-quarter net sales of $897.7 million, up 0.5% compared to the prior-year period, including core revenue growth of 4.0%. ◦ Net income attributable to shareholders of $26.4 million, or $0.09 per diluted share. ◦
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000030/0001718512-23-000030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.