GTES Stock Recent News

Amid macroeconomic headwinds, the public sector is encouraging for the industry. Let's find out whether Gates (GTES) or Sterling (STRL) is a better Engineering - R and D Services stock.

DENVER, June 17, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) is pleased to announce the appointment of John Patouhas as Senior Vice President & Chief Accounting Officer, effective today, Monday, June 17, 2024.  John will be responsible for the strategic direction of Gates' accounting function, including financial reporting, risk, controls, and compliance in accordance with applicable standards, laws and regulations.

GTES focuses on power transmission and fluid power solutions, serving customers across 130 countries. Recently announced their entry into the data cooling centers to provide liquid cooling solutions. GTES has exited FY23 on a high note with good momentum, driving further expansion in profitability margin for FY24 as they focus on material cost reduction and productivity enhancement. Rising infrastructure build-outs outside of the U.S. present a substantial growth opportunity for GTES throughout the next few years.

DENVER , May 22, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiary, Gates Corporation (the "Issuer" and, together with Gates, the "Company"), finalized the terms of the previously announced offering of $500.0 million aggregate principal amount of 6.875% Senior Notes due 2029 (the "notes"). The notes will be fully and unconditionally guaranteed by Gates Industrial Holdco Limited (the "Parent Guarantor"), an indirect parent company of the Issuer and the direct subsidiary of Gates, and certain other subsidiaries of the Parent Guarantor.

DENVER, May 22, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiary, Gates Corporation (the "Issuer" and, together with Gates, the "Company"), intends to offer $500.0 million aggregate principal amount of Senior Notes due 2029 (the "notes"). The notes will be fully and unconditionally guaranteed by Gates Industrial Holdco Limited (the "Parent Guarantor"), an indirect parent company of the Issuer and the direct subsidiary of Gates, and certain other subsidiaries of the Parent Guarantor.

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.

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.

Gates Industrial stock was downgraded to a 'Hold' rating due to uncertainty and bearish forward-looking EPS revisions last November. The company's Q4 earnings report showed a significant improvement in gross margin, adjusted EBITDA, and free cash flow trends. The positive momentum is expected to continue into fiscal 2024, with promising signs from enterprise initiatives and strong earnings growth potential.

Gates Corp. (GTES) is a manufacturer of power transmission belts and fluid power products. CEO Ivo Jurek joins Nicole Petallides to give an overview of the company.

DENVER , Feb. 14, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE:GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that Ivo Jurek, Chief Executive Officer, will participate in fireside chats at the following upcoming investor conferences: The Citi Global Industrial Tech and Mobility Conference on Tuesday, February 20, 2024 at 4:20 p.m. Eastern time.