---
schema_version: "secwatch.filing_event.v1"
accession: "0001718512-24-000031"
form_type: "8-K"
ticker: "GTES"
cik: "0001718512"
company_name: "Gates Industrial Corp plc"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:04:27.256953+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gates Industrial Q1 adjusted EBITDA margin expands to 22.7%; raises full-year EBITDA guidance

## Summary
- Net sales $862.6M (-3.9% YoY); core revenue declined 3.6% with Replacement flat and First Fit down double-digits.
- Adjusted EBITDA $195.6M (22.7% margin), up 330 bps from 19.4% YoY; driven by enterprise initiatives and pricing.
- Adjusted EPS $0.31 (GAAP $0.15); higher tax rate reduced EPS by ~$0.03 vs prior year.
- Raised FY 2024 Adjusted EBITDA guidance to $745-805M (from $725-785M); core revenue and EPS guidance unchanged.
- Repaid $100M term loans, repurchased ~$50M shares; $522M cash and $2.4B debt; $50M remaining buyback authorization.

## SEC filing metadata
- accession: 0001718512-24-000031
- form_type: 8-K
- ticker: GTES
- cik: 0001718512
- company_name: Gates Industrial Corp plc
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1718512/000171851224000031/0001718512-24-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1718512/000171851224000031/gtes-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001718512-24-000031
- JSON: https://secwatch.observer/filing/0001718512-24-000031.json
- Plain text: https://secwatch.observer/filing/0001718512-24-000031.txt

## Key facts
- Earnings Releases
  Gates Industrial Corp plc reported the first quarter ended March 30, 2024 results: revenue $862.6 million, net income $40.0 million, EPS $0.15 per diluted share. Guidance raised.
  - Period: the first quarter ended March 30, 2024
  - Revenue: $862.6 million
  - Net income: $40.0 million
  - EPS: $0.15 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: --- EX-99.1 (EX-99.1) --- Gates Industrial Reports First-Quarter 2024 Results Denver, CO, May 1, 2024 First-Quarter 2024 Financial Summary ◦ First-quarter net sales of $862.6 million, down 3.9% compared to the prior-year period, including core revenue decline of 3.6%. ◦ Net income attributable to shareholders of $40.0 million, or $0.15 per diluted share. ◦
  evidence_url: https://www.sec.gov/Archives/edgar/data/1718512/000171851224000031/0001718512-24-000031-index.htm

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