Gates(GTES) - 2023 Q2 - Earnings Call Presentation

Financial Performance - Net sales reached $936 million[34], with a core growth of approximately 4% year-over-year[6, 32, 34] - Adjusted EBITDA was $197 million[40], resulting in a 21.1% adjusted EBITDA margin[40] - Adjusted earnings per share (EPS) stood at $0.36[9, 40], an increase from $0.32 in Q2 2022[3, 9] - Free cash flow was $116 million[10, 57], representing a 114% conversion rate[16, 58] Segment Results - Power Transmission net sales were $573.9 million[65], while Fluid Power net sales amounted to $362.4 million[65] - Power Transmission adjusted EBITDA was $119 million with a 20.7% margin[65], and Fluid Power adjusted EBITDA was $78.3 million with a 21.6% margin[65] Regional Performance - Greater China experienced a revenue increase of 28%[52] - EMEA (Europe, Middle East, and Africa) saw a revenue increase of 9%[52] Capital Allocation and Balance Sheet - The company returned $250 million to shareholders through the repurchase of approximately 21.9 million shares[32] - Net leverage ratio decreased to 2.8x[39, 70]