---
schema_version: "secwatch.filing_event.v1"
accession: "0001718512-24-000062"
form_type: "8-K"
ticker: "GTES"
cik: "0001718512"
company_name: "Gates Industrial Corp plc"
filed_at: "2024-07-31T23:59:59+00:00"
generated_at: "2026-05-31T14:32:30.721227+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gates Industrial Q2 net sales down 5.4% to $885.5M; cuts full-year guidance; announces $250M buyback

## Summary
- Net sales $885.5M (-5.4% YoY); core sales decline 4.0%; net income $70.7M ($0.26 diluted EPS).
- Adjusted EPS $0.36 vs $0.34 YoY; Adjusted EBITDA margin 22.8%, up 170 bps YoY.
- Power Transmission net sales $541.9M (-5.6% YoY); segment Adjusted EBITDA margin 22.8% (+210 bps).
- Fluid Power net sales $343.6M (-5.2% YoY); segment Adjusted EBITDA margin 22.8% (+120 bps).
- Updated FY2024 guidance: core sales growth (4%) to (2%); Adjusted EBITDA $740-770M; new $250M buyback authorized.

## SEC filing metadata
- accession: 0001718512-24-000062
- form_type: 8-K
- ticker: GTES
- cik: 0001718512
- company_name: Gates Industrial Corp plc
- filed_at: 2024-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1718512/000171851224000062/0001718512-24-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1718512/000171851224000062/gtes-20240731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001718512-24-000062
- JSON: https://secwatch.observer/filing/0001718512-24-000062.json
- Plain text: https://secwatch.observer/filing/0001718512-24-000062.txt

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