Gates Industrial Q3 sales down 4.8% to $830.7M; adjusted EPS guidance raised

Gates Industrial Corp plc

2024-Q3 EPS reported $0.60 revenue$2,578,800,000

Diluted GAAP EPS $0.18 vs $0.29 YoY; adjusted EPS $0.33 vs $0.36.
Adjusted EBITDA margin 22.0%, up 30 bps YoY, driven by enterprise initiatives and mix.
Power Transmission net sales $513.4M (-4.3%); Fluid Power $317.3M (-5.7%).
Full-year adjusted EPS guidance raised to $1.33-$1.37 from $1.29-$1.35; EBITDA midpoint unchanged.
YTD operating cash flow $188.7M vs $291.7M; total debt $2.4B, cash $574.4M.

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