Gates Industrial Reports Q4 Earnings of $36.6 Million
DENVER, CO - Gates Industrial Corp. (NYSE: GTES) announced its financial results for the fourth quarter ended June 30, 2023.
Key Financial Highlights:
* Earnings per share: $0.36 adjusted, $0.14 reported
* Revenue: $829.4 million
* Full-year earnings per share: $0.74 adjusted, $1.94 reported
* Full-year revenue: $3.41 billion
Business Performance:
Gates Industrial manufactures power transmission and fluid power systems. The company experienced strong growth in its diversified end markets, including renewable energy and industrial automation.
Outlook:
For the full year 2023, Gates Industrial expects earnings per share in the range of $1.36 to $1.52. The company anticipates continued growth in its core markets and operational efficiency initiatives.