---
schema_version: "secwatch.filing_event.v1"
accession: "0001718512-23-000050"
form_type: "8-K"
ticker: "GTES"
cik: "0001718512"
company_name: "Gates Industrial Corp plc"
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T06:08:15.481614+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001718512-23-000050
- form_type: 8-K
- ticker: GTES
- cik: 0001718512
- company_name: Gates Industrial Corp plc
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1718512/000171851223000050/0001718512-23-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000050/gtes-20230804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001718512-23-000050
- JSON: https://secwatch.observer/filing/0001718512-23-000050.json
- Plain text: https://secwatch.observer/filing/0001718512-23-000050.txt

## Key facts
- Earnings Releases
  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
  source text: The Company is updating its full year financial guidance for 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000050/0001718512-23-000050-index.htm
- Earnings Releases
  Gates Industrial Corp plc reported second quarter of 2023 results: EPS 0.36.
  - Period: second quarter of 2023
  - EPS: 0.36
  - Result: reported results
  source text: 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. ◦
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000050/0001718512-23-000050-index.htm
- Earnings Releases
  Gates Industrial Corp plc reported second quarter of 2023 results: EPS 0.36.
  - Period: second quarter of 2023
  - EPS: 0.36
  - Result: reported results
  source text: Adjusted Net Income per diluted share of $0.36.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000050/0001718512-23-000050-index.htm

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