Gates Industrial Corporation plc (GTES) Tops Q2 EPS by 9c, Raises Outlook

Gates Industrial Corporation plc (NYSE: GTES) reported Q2 EPS of $0.38, $0.09 better than the analyst estimate of $0.29. Revenue for the quarter came in at $875.1 million versus the consensus estimate of $863.71 million.

Increasing full-year 2018 guidance. The Company is increasing its full-year outlook for both net sales growth and Adjusted EBITDA. Total net sales growth is now expected to be in a range of 10.0% to 12.0%, the core revenue growth component of which is expected to be 6.0% to 7.0%. Adjusted EBITDA is now expected to be in the range of $745 million to $765 million, increased from the previous range of $738 million to $758 million. Additionally, the Company now expects total capital expenditures to be approximately $180 million compared to the previous range of $150 million to $170 million, reflecting investment in certain additional organic initiatives.

For earnings history and earnings-related data on Gates Industrial Corporation plc (GTES) click here.

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