Gates Industrial Reports First-Quarter 2021 Results

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Go back to Gates Industrial Reports First-Quarter 2021 Results

Gates Industrial Corporation plc (GTES) Tops Q1 EPS by 2c, Revenues Beat

May 10, 2021 8:06 AM EDT

Gates Industrial Corporation plc (NYSE: GTES) reported Q1 EPS of $0.33, $0.02 better than the analyst estimate of $0.31. Revenue for the quarter came in at $881.3 million versus the consensus estimate of $863.64 million.

First-Quarter 2021 Financial Summary

Net sales up 24.1%, including core revenue growth of 21.0%, compared to the prior-year period.Net income attributable to shareholders of $67.3 million, or $0.23 per diluted share, a year-over-year increase of 89.0%.Adjusted Net Income per diluted share of $0.33, a year-over-year increase of 57.1%.Adjusted EBITDA of $196.3 million, a year-over-year increase of 62.5% and Adjusted EBITDA margin... More