Q1 2024 EARNINGS PRESENTATION MAY 1, 2024 LEGAL DISCLAIMERS 2 This presentation contains, and management may make on our call today, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," ...

Gates Industrial (GTES) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.33%. A quarter ago, it was expected that this manufacturer of power transmission and fluid power systems would post earnings of $0.29 per share when it actually produced earnings of $0.39, delivering a surprise ...

Financial Performance - First-quarter 2024 net sales were $862.6 million, a decrease of 3.9% from $897.7 million in the prior-year quarter, with a core sales decrease of 3.6%[4] - Net income attributable to shareholders for the first quarter was $40.0 million, or $0.15 per diluted share, compared to $26.4 million, or $0.09 per diluted share in the first quarter of 2023[5] - Adjusted EBITDA for the first quarter was $195.6 million, representing a margin of 22.7%, up from $174.5 million and 19.4% in the prior-year quarter[7] - Net income for the three months ended March 30, 2024, was $46.1 million, an increase of 50.8% compared to $30.6 million for the same period in 2023[28] - Adjusted EBITDA for the same period was $195.6 million, representing an Adjusted EBITDA margin of 22.7%, up from 19.4% in the prior year[36] - Adjusted Net Income attributable to shareholders increased to $83.5 million, compared to $72.8 million in the prior year[42] Segment Performance - Power Transmission segment net sales decreased by 2.8% to $532.8 million, with an Adjusted EBITDA of $119.0 million, reflecting a margin expansion of 270 basis points[9] - Fluid Power segment net sales decreased by 5.7% to $329.8 million, with an Adjusted EBITDA of $76.6 million, showing a margin improvement of 410 basis points[13] - The Power Transmission segment reported net sales of $532.8 million, down $9.4 million, while the Fluid Power segment saw a decrease of $22.9 million to $329.8 million[48] Guidance and Projections - The company has raised its full-year 2024 Adjusted EBITDA guidance to a range of $745 million to $805 million, an increase of $20 million from previous guidance[16] - Core revenue growth guidance for 2024 remains unchanged at a range of -3% to +1%[16] Cash Flow and Debt - The company reduced its gross debt during the quarter and had total outstanding debt of $2.4 billion as of March 30, 2024[14] - The company used $21.0 million of cash in operations during the first quarter, with capital expenditures increasing to $18.1 million from $14.6 million in the prior-year quarter[14] - Free Cash Flow for the period was negative at $(21.0) million, compared to positive cash flow of $52.5 million in the same period last year[28] - The company incurred $148.9 million in net cash used in financing activities during the period, primarily due to payments of long-term debt[28] Assets and Liabilities - Total assets decreased to $7,045.9 million as of March 30, 2024, down from $7,254.5 million as of December 30, 2023[26] - Cash and cash equivalents at the end of the period were $525.7 million, a decrease from $597.8 million at the end of the previous year[28] - Total liabilities decreased to $3,550.5 million as of March 30, 2024, down from $3,710.6 million as of December 30, 2023[26] Shareholder Actions - The company repurchased approximately $50 million of its ordinary shares in February 2024, with an additional $50 million available under its share repurchase authorization[15] - The diluted weighted-average number of shares outstanding was 267,435,531, compared to 287,878,415 in the prior year[42] Other Notable Events - The company recorded a pre-tax charge of $0.1 million related to a customer's bankruptcy proceedings during the three months ended March 30, 2024[45] - Cybersecurity incident expenses were incurred due to a malware attack on February 11, 2023, which may be partially offset by insurance recoveries[45] - Currency rate movements positively impacted net sales by $2.8 million overall, with a $5.9 million increase in Power Transmission and a $3.1 million decrease in Fluid Power[48] - The company reported a decrease in inventories to $677.2 million as of March 30, 2024, from $647.2 million as of December 30, 2023[26]

DENVER, April 10, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) will issue its first-quarter earnings release before the market opens on Wednesday, May 1, 2024. Management will host a webcast and conference call on the same day at 10:00 a.m. Eastern time to discuss Gates Industrial's financial results. The conference call can be accessed as follows: By dialing (888) 414-4601 (domestic) or +1 (646) 960-0313 (international) and requesting the Gates Industrial Corporation First-Quarter 20 ...

Q4 2023 EARNINGS PRESENTATION FEBRUARY 8, 2024 LEGAL DISCLAIMERS 2 This presentation contains, and management may make on our call today, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predi ...

Gates Industrial Corporation plc (NYSE:GTES) Q4 2023 Earnings Conference Call February 8, 2024 9:00 AM ET Company Participants Richard Kwas - VP, IR Ivo Jurek - CEO Brooks Mallard - CFO Conference Call Participants Nigel Coe - Wolfe Research Julian Mitchell - Barclays Deane Dray - RBC Capital Markets Andrew Kaplowitz - Citi Jerry Revich - Goldman Sachs David Raso - Evercore ISI Jeffrey Hammond - KeyBanc Capital Markets Michael Halloran - Baird Operator Hello, and welcome to the Gates Industrial Corporation ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 001-38366 Gates Industrial Corporation plc (Exact Name of Registrant as Specified in its Charter) England and Wale ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-38366 Gates Industrial Corporation plc (Exact Name of Registrant as Specified in its Charter) England and W ...

Gates Industrial Corporation plc (NYSE:GTES) Q3 2023 Results Conference Call November 3, 2023 10:00 AM ET Company Participants Rich Kwas - VP, IR Ivo Jurek - CEO Brooks Mallard - CFO Conference Call Participants Andy Kaplowitz - Citi Damian Karas - UBS David Raso - Evercore ISI Deane Dray - RBC Capital Markets Jeff Hammond - KeyBanc Capital Markets Jerry Revich - Goldman Sachs Julian Mitchell - Barclays Operator Ladies and gentlemen, good morning. My name is Abby, and I'll be your conference operator today. ...

David, think about flat for the year. Good morning, Deane. Gates Industrial Corporation plc (NYSE:GTES) Q2 2023 Earnings Conference Call August 4, 2023 10:00 AM ET Operator Company Participants | --- | --- | |----------------------------------------------------------------------------------------------------------------------------|-------| | | | | | | | Rich Kwas – Vice President-Investor Relations Ivo Jurek – Chief Executive Officer Brooks Mallard – Chief Financial Officer | | | Conference Call Participan ...