Gates Q2 record sales $936.3M (+3.3%); raises FY adjusted EPS guidance

Gates Industrial Corp plc

2023-Q2 EPS reported $0.32 revenue$1,834,000,000

Net income $64.9M ($0.23 diluted); adj. EPS $0.36 vs $0.32 YoY.
Adjusted EBITDA $197.3M (21.1% margin, +120bps YoY).
Power Transmission sales +5.7% to $574M; Fluid Power -0.4% to $362M.
FY 2023 core revenue guidance lowered to 0-2% (prior 1-5%); adj. EPS raised to $1.18-$1.24.
Generated $131M operating cash in Q2; executed $250M share repurchase in May.

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 full year 2023 results: EPS 1.18 to 1.24. Guidance raised.

Period: full year 2023
EPS: 1.18 to 1.24
Guidance: raised
Result: guidance update

Exact text from the filing

The Company is updating its full year financial guidance for 2023

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Gates Industrial Corp plc reported second quarter of 2023 results: EPS 0.36.

Period: second quarter of 2023
EPS: 0.36
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- Gates Industrial Reports Second-Quarter 2023 Results Denver, CO, August 4, 2023 Second-Quarter 2023 Financial Summary ◦ Record second-quarter net sales of $936.3 million, up 3.3% compared to the prior-year period, including core revenue growth of 3.9%. ◦ Net income attributable to shareholders of $64.9 million, or $0.23 per diluted share. ◦

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Gates Industrial Corp plc reported second quarter of 2023 results: EPS 0.36.

Period: second quarter of 2023
EPS: 0.36
Result: reported results

Exact text from the filing

Adjusted Net Income per diluted share of $0.36.

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Gates Industrial Corp plc filing history →

Source: SEC EDGAR

accession 0001718512-23-000050

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