GATES INDUSTRIAL Reports 3.3% Increase in Revenue and 22.2% Increase in Net Income for Q2 2023
August 9, 2023
☀️Earnings Overview
For the second quarter ending June 30 2023, GATES INDUSTRIAL ($NYSE:GTES) reported total revenue of USD 936.3 million and net income of USD 64.9 million, a rise of 3.3% and 22.2%, respectively, compared to the same period in FY2022.
Analysis
GoodWhale has conducted an in-depth analysis of GATES INDUSTRIAL and assessed its wellbeing. Risk Rating, which is designed to evaluate the financial and business aspects of a company, has determined that GATES INDUSTRIAL is a medium risk investment. GoodWhale has also detected one risk warning in the company’s balance sheet. However, this warning can only be accessed by registered users of GoodWhale. Therefore, if you wish to view it, we suggest registering with GoodWhale first. This way, you can obtain a comprehensive overview of the company’s wellbeing and make an informed decision about whether or not to invest. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gates Industrial. More…
| Total Revenues | Net Income | Net Margin |
| 3.59k | 228.1 | 6.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gates Industrial. More…
| Operations | Investing | Financing |
| 531.5 | -89.2 | -286.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gates Industrial. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.28k | 3.89k | 11.64 |
Key Ratios Snapshot
Some of the financial key ratios for Gates Industrial are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.2% | 22.8% | 11.9% |
| FCF Margin | ROE | ROA |
| 12.6% | 8.5% | 3.7% |
Peers
In the industrial sector, there is intense competition between Gates Industrial Corp PLC and its competitors Trelleborg AB, Graco Inc, and Vishal Bearings Ltd. All four companies are vying for market share in the production of industrial equipment and components. While each company has its own strengths and weaknesses, Gates Industrial Corp PLC has emerged as a leader in the industry due to its innovative products, efficient manufacturing, and strong marketing and sales strategies.
– Trelleborg AB ($OTCPK:TBABF)
Trelleborg AB is a Swedish industrial group that develops, manufactures, and sells products and services for a wide range of industries worldwide. The company operates through four business areas: Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, and Trelleborg Sealing Solutions. Trelleborg Coated Systems develops, manufactures, and markets polymer-coated fabrics and films. Trelleborg Industrial Solutions develop and market products and solutions within the areas of polymer technology, vibration isolation, and seals. Trelleborg Offshore & Construction develops and markets products and solutions for the oil and gas industry, the fishing industry, and the construction industry. Trelleborg Sealing Solutions develops and markets sealing solutions for a wide range of industries and applications.
– Graco Inc ($NYSE:GGG)
Graco Inc. is a publicly traded company with a market capitalization of $11.77 billion as of 2022. The company has a return on equity of 19.47%. Graco Inc. manufactures and markets equipment and systems for the management of fluids in industrial, commercial, and consumer applications worldwide. The company operates in three segments: Industrial, Contractor, and Homeowner.
– Vishal Bearings Ltd ($BSE:539398)
Vishal Bearings Ltd is an Indian company that manufactures and supplies a range of bearings and related products. The company has a market cap of 756.45M as of 2022 and a return on equity of 27.82%. Vishal Bearings Ltd is a publicly traded company listed on the Bombay Stock Exchange. The company’s products are used in a variety of industries including automotive, construction, and mining.
Summary
GATES INDUSTRIAL has shown strong financial growth in the second quarter of 2023, with total revenue increasing by 3.3% to USD 936.3 million and net income increasing by 22.2% to USD 64.9 million as compared to the same period of FY2022. This is a positive sign for investors, suggesting that the company’s financial performance is strong and that it is well-positioned for future success. Furthermore, the increase in net income is a sign that the company is doing well in terms of profitability, giving investors further confidence in the company’s long-term prospects. With strong financial growth and potential for further gains in the future, GATES INDUSTRIAL appears to be a promising investment opportunity.
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