Denver, CO, July 31, 2024 Jurek continued, "We have trimmed our full year 2024 guidance for core sales, adjusted EBITDA and adjusted earnings per share to reflect softer than expected demand in our First Fit markets during the second half of the year and our normal business seasonality. At the updated midpoint, we still expect to increase our adjusted EBITDA margin by over 100 basis points year-over-year. We are intently focused on driving our various enterprise initiatives and achieving our 2026 financial ...

DENVER, July 17, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES) today announced that it has changed the time of its second-quarter 2024 webcast and conference call from 10 a.m. Eastern time to 9 a.m. Eastern time on Wednesday, July 31, 2024. The access information has not changed and is as follows: An audio replay of the conference call will be available from approximately 1:00 p.m. Eastern time on July 31, 2024, until 11:59 p.m. Eastern time on August 7, 2024, and can be accessed domesti ...

About Gates Industrial Corporation plc Gates Industrial Corporation plc is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers, and to original equipment ("first-fit") manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Our products play essential roles in a diverse range of applications across a wide variety of end ...

With a major focus on developing the country's roads, bridges and more, the construction companies are benefiting from the U.S. administration's massive infrastructure plan to build modern, sustainable infrastructure and a clean future. Moreover, the increased demand from telecom customers for wireline networks, wireless/wireline converged networks and wireless networks using 5G technologies has been benefiting construction-related companies. Within the Zacks Engineering - R and D Services industry, compani ...

"John brings significant manufacturing finance leadership experience to Gates and we look forward to the benefit of his background and expertise in ensuring a robust accounting and controls function as we continue to grow our business globally," stated EVP/CFO Brooks Mallard, adding "we are delighted John has chosen to join Gates." John began his career in public accounting as an auditor with Deloitte, where his clients included General Motors and Detroit Diesel. After receiving his MBA, John worked in the ...

Dmytro Varavin Gates Industrial Corporation plc (NYSE:GTES) focuses on highly engineered power transmission and fluid power solutions, serving customers across 130 countries. Over the past few years, its revenue growth rate has been decelerating. Despite flattish revenue growth, margins have been improving all along. They have also been capturing opportunities into data centre cooling, which allows them to leverage their technical expertise to provide solutions for growing demand in data centres. With the r ...

This press release is being issued pursuant to Rule 135c under the Securities Act, and it is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. DENVER, May 22, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiary, Gates Corporation (t ...

This press release is being issued pursuant to Rule 135c under the Securities Act, and it is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. About Gates: Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of p ...

DENVER, May 15, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates" or the "Company") announced today that certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders") have commenced a secondary offering of 17,500,000 of Gates' ordinary shares (the "Offering"). In connection with the Offering, the Selling Stockholders intend to grant to the underwriters a 30-day option to purchase up to 2,625,000 additional ordinary shares. Gates is not offering any ordina ...

Gates Industrial Corporation plc (NYSE:GTES) Q1 2024 Earnings Conference Call May 1, 2024 10:00 AM ET Nigel Coe – Wolfe Research David Tarantino – KeyBanc Capital Markets Steve Volkmann – Jefferies Jerry Revich – Goldman Sachs Damian Karas – UBS Andy Kaplowitz – Citigroup Julian Mitchell – Barclays Mike Halloran – Baird Deane Dray – RBC Capital Markets David Raso – Evercore Rich Kwas Our Fluid Power segment posted revenues of $330 million. Revenues fell about 6% with core revenues posting a just under 7% de ...