---
schema_version: "secwatch.filing_event.v1"
accession: "0001718512-23-000062"
form_type: "8-K"
ticker: "GTES"
cik: "0001718512"
company_name: "Gates Industrial Corp plc"
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T22:33:58.846722+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Gates Industrial Q3 net sales record $872.9M; raises FY2023 adjusted EBITDA and EPS guidance

## Summary
- Record Q3 net sales $872.9M (+1.4% YoY); core revenue -0.5%. Diluted EPS $0.29; adjusted EPS $0.35.
- Adjusted EBITDA $189.4M (21.7% margin), up 110bps YoY. Power Transmission margin +220bps; Fluid Power -70bps.
- FY2023 guidance raised: Adj EBITDA midpoint +$5M to $725-735M; Adj EPS +$0.04 to $1.22-1.28; CapEx <$85M.
- YTD operating cash flow $291.7M vs $18.8M prior year; cash $556.8M, debt $2.5B, borrowing headroom $468.4M.
- Replacement business grew; Automotive Replacement core revenues mid-single digit; On-Highway, Energy end markets solid.

## SEC filing metadata
- accession: 0001718512-23-000062
- form_type: 8-K
- ticker: GTES
- cik: 0001718512
- company_name: Gates Industrial Corp plc
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000062/0001718512-23-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000062/gtes-20231103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001718512-23-000062
- JSON: https://secwatch.observer/filing/0001718512-23-000062.json
- Plain text: https://secwatch.observer/filing/0001718512-23-000062.txt

## Key facts
- Earnings Releases
  Gates Industrial Corp plc reported full year 2023 results: EPS Adjusted EPS $1.22 to $1.28. Guidance raised.
  - Period: full year 2023
  - EPS: Adjusted EPS $1.22 to $1.28
  - Guidance: raised
  - Result: guidance update
  source text: Raising 2023 full-year adjusted EPS and adjusted EBITDA guidance.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000062/0001718512-23-000062-index.htm
- Earnings Releases
  Gates Industrial Corp plc reported third quarter ended September 30, 2023 results: revenue $872.9 million, net income $78.7 million, EPS $0.29 per diluted share.
  - Period: third quarter ended September 30, 2023
  - Revenue: $872.9 million
  - Net income: $78.7 million
  - EPS: $0.29 per diluted share
  - Result: reported results
  source text: Record third-quarter net sales of $872.9 million, up 1.4% compared to the prior-year period and representing a core revenue decrease of (0.5)% year-over-year. ◦ Net income attributable to shareholders of $78.7 million, or $0.29 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718512/000171851223000062/0001718512-23-000062-index.htm

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