Gates Industrial Reports Third-Quarter 2020 Results

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Go back to Gates Industrial Reports Third-Quarter 2020 Results

Gates Industrial Corporation plc (GTES) Tops Q3 EPS by 10c, Revenues Beat

November 3, 2020 8:05 AM EST

Gates Industrial Corporation plc (NYSE: GTES) reported Q3 EPS of $0.26, $0.10 better than the analyst estimate of $0.16. Revenue for the quarter came in at $712.2 million versus the consensus estimate of $695.38 million.

Third-Quarter 2020 Highlights

Net sales of $712.2 million compared to prior-year period of $746.6 million.Net income attributable to shareholders of $41.9 million, or $0.14 per diluted share, compared to prior-year period net income attributable to shareholders of $35.5 million, or $0.12 per diluted share.Adjusted Net Income of $75.8 million, or $0.26 per diluted share.Adjusted EBITDA of $140.0 million and Adjusted EBITDA margin of 19.7%.

Ivo Jurek, Gates... More