Gates Industrial Corporation plc (GTES) Tops Q1 EPS by 5c

Gates Industrial Corporation plc (NYSE: GTES) reported Q1 EPS of $0.21, $0.05 better than the analyst estimate of $0.16. Revenue for the quarter came in at $710.1 million versus the consensus estimate of $717.67 million.

2020 Outlook

The Company is withdrawing its full-year 2020 core revenue and Adjusted EBITDA guidance due to an inability to predict the extent and duration of the unprecedented actions taken globally to limit the spread of the COVID-19 pandemic, which are likely to have a material impact. The Company currently expects total capital expenditures of approximately $70 million and Free Cash Flow Conversion to be greater than 100% of Adjusted Net Income.

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

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