Financial Performance - Fourth-quarter net sales were $829.4 million, a decrease of 3.9% compared to $863.3 million in the prior-year quarter, primarily due to lower volume[5]. - Full-year 2024 net sales were $3,408.2 million, representing a 4.5% decline from $3,570.2 million in the prior year, driven by lower volume and unfavorable foreign currency[7]. - Fourth-quarter net income attributable to shareholders was $36.6 million, or $0.14 per diluted share, down from $62.9 million, or $0.24 per diluted share, in the prior-year quarter[8]. - Net income attributable to shareholders for the year ended December 28, 2024, was $194.9 million, down 16.3% from $232.9 million in 2023[30]. - Earnings per share from continuing operations for the year ended December 28, 2024, was $0.75, a decrease of 12.8% compared to $0.86 in 2023[30]. - For the three months ended December 28, 2024, net income from continuing operations was $41.2 million, compared to $69.2 million for the same period in 2023, reflecting a margin of 5.0%[42]. Adjusted EBITDA - Adjusted EBITDA for the fourth quarter was $180.8 million, with a margin of 21.8%, compared to $185.8 million in the prior-year quarter[11]. - Full-year 2024 adjusted EBITDA was $761.1 million, or 22.3% of net sales, an increase from $747.0 million, or 20.9% of net sales, in the prior year[12]. - Adjusted EBITDA for the three months ended December 28, 2024, was $180.8 million, with an Adjusted EBITDA margin of 21.8%, compared to $185.8 million and 21.5% in the prior year[42]. Cash Flow and Capital Expenditures - The company reported a net cash provided by operating activities of $379.6 million for the year ended December 28, 2024, down from $481.0 million in 2023[34]. - Capital expenditures for 2025 are projected to be approximately $120 million[24]. - Free Cash Flow is utilized to measure cash generation, representing net cash provided by operations less capital expenditures[39]. Debt and Stock Repurchase - The company repurchased $175 million of its stock and reduced debt levels during 2024[4]. - As of December 28, 2024, the company had total cash and cash equivalents of $682.0 million and total outstanding debt of $2.4 billion[22]. - Total liabilities decreased to $3,446.0 million as of December 28, 2024, from $3,710.6 million as of December 30, 2023[32]. Sales Growth and Projections - For 2025, the company anticipates core sales growth in the range of (0.5%) to +3.5% year-over-year[24]. - The company expects adjusted EBITDA for 2025 to be between $735 million and $795 million[24]. - Core sales for the three months ended December 28, 2024, were $841.1 million, reflecting a decline of $22.2 million or 2.6% on a core basis[50]. - Core sales for the year ended December 28, 2024, were $3,444.6 million, representing a decline of $125.6 million or 3.5% on a core basis[50]. Risks and Challenges - The company is facing risks related to international operations, supply chain challenges, and market acceptance of new products, which may impact future performance[27]. - The effective tax rate for the three months ended December 28, 2024, was impacted by net discrete tax expenses of $31.7 million, primarily due to changes in tax rates and law changes[48]. Other Financial Items - The company recognized a deconsolidation loss upon loss of control of the Russian subsidiary as of September 28, 2024[48]. - Transaction-related expenses included advisory fees and costs associated with major corporate transactions, impacting overall financial performance[48]. - The company recorded a pre-tax charge related to a customer's bankruptcy proceedings, reflecting estimated recovery from outstanding accounts receivable[48]. - Cybersecurity incident expenses incurred due to a malware attack included legal and consulting costs, with some potential offsets from insurance recoveries[48]. - Interest paid for the period was $132.6 million, while income taxes paid amounted to $122.3 million[35].

DENVER, Feb. 6, 2025 /PRNewswire/ --Fourth-Quarter 2024 Financial Summary Fourth-quarter net sales of $829.4 million, down 3.9% compared to the prior-year period, including a core sales decline of 2.6%. Net income attributable to shareholders of $36.6 million, or $0.14 per diluted share. Adjusted Net Income per diluted share of $0.36. Net income from continuing operations of $41.2 million, or a margin of 5.0%. Adjusted EBITDA of $180.8 million, or a margin of 21.8%.Full-Year 2024 Financial Summary Net sales ...

Core Insights - Gates Industrial Corporation plc will release its fourth-quarter earnings on February 6, 2025, before market opening [1] - A conference call will be held on the same day at 11:00 a.m. Eastern time to discuss the financial results [1] - An audio replay of the conference call will be available from February 6, 2025, at 1:00 p.m. until February 13, 2025, at 11:59 p.m. Eastern time [1] Company Overview - Gates is a global manufacturer specializing in power transmission and fluid power solutions [2] - The company offers a wide range of products for diverse replacement channel customers and OEMs [2] - Gates operates in various sectors, serving both industrial and consumer markets, with products used in numerous applications [2] - The company sells its products in over 130 countries across four commercial regions: the Americas, Europe, Middle East & Africa, Greater China, and East Asia & India [2]

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Gates Industrial (GTES) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.Gates Industrial is a member of the Industrial Products sector. This group includes 213 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different groups, measuring the ave ...

We doubled down on our bullish stance in Gates Industrial Corporation plc (NYSE: GTES ) in September of this year due to the company's growing profitability, improving margins, and a bullish intermediate technical pattern. Shares have returned 34%+ since our most recentIndividual investor with a keen interest in deriving income from investment setups. We do this by buying undervalued profitable stocks with strong balance sheets & minimal debt. Furthermore, when the opportunity arises, we like to write calls ...

Gates Industrial (GTES) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings p ...

Gates Industrial Corporation plc (GTES) has recently captured the attention of investors. The stock touched a new 52-week high of $22.43 yesterday and pulled back to end the trading session at $22.12.This global manufacturer of innovative, highly engineered power transmission and fluid power solutions gained 79.5% in the past year, strongly outperforming the Zacks Manufacturing - General Industrial industry’s 34.3% rally. Impressively, the company has outpaced some industry bigwigs like Illinois Tool Works ...

DENVER, Nov. 4, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that management will participate in fireside chats at the following upcoming investor conferences: The Baird Global Industrial Conference on Wednesday, November 13, 2024 at 4:05 p.m. Central time. Ivo Jurek, CEO will present. The Goldman Sachs Industrials & Materials Conference on Wednesday, December 4, 2024 a ...

For the quarter ended September 2024, Gates Industrial (GTES) reported revenue of $830.7 million, down 4.8% over the same period last year. EPS came in at $0.33, compared to $0.35 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $821.46 million, representing a surprise of +1.13%. The company delivered an EPS surprise of +6.45%, with the consensus EPS estimate being $0.31.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Gates Industrial (GTES) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.45%. A quarter ago, it was expected that this manufacturer of power transmission and fluid power systems would post earnings of $0.35 per share when it actually produced earnings of $0.36, delivering a surprise ...