Gates Industrial Q4 net sales $863.3M (-3.4%); Adj EBITDA margin 21.5% +290 bps

Gates Industrial Corp plc

2023-FY EPS reported $0.84 revenue$3,570,200,000

Q4 Adj net income $0.39/diluted vs $0.25 prior year; GAAP diluted $0.24.
Full-year Adj EBITDA $747M (20.9% margin) up from $680.6M (19.1%); operating cash flow $481M.
FY2024 guidance: core revenue growth -3% to +1%, Adj EBITDA $725-785M, Adj EPS $1.28-1.43.
Board authorized $100M share repurchase program through Oct 2024; net leverage at 2.3x.
Power Transmission Q4 Adj EBITDA margin 22.0% (+360 bps); Fluid Power 20.7% (+190 bps).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Gates Industrial Corp plc updated its the fourth quarter of 2023 and full year ended December 30, 2023 guidance (initiated).

Period: the fourth quarter of 2023 and full year ended December 30, 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On February 8, 2024, Gates Industrial Corporation plc announced its financial results for the fourth quarter of 2023 and full year ended December 30, 2023.

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Source: SEC EDGAR

accession 0001718512-24-000006

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