GATES INDUSTRIAL Reports Q2 FY2023 Earnings Results on August 4th

August 22, 2023

🌥️Earnings Overview

On August 4, 2023, GATES INDUSTRIAL ($NYSE:GTES) reported its earnings results for FY2023 Q2, which concluded on June 30, 2023. The total revenue for the quarter totaled USD 936.3 million, displaying a 3.3% increase compared to the prior year’s results. Net income reported was also up year-on-year, amounting to USD 64.9 million for a 22.2% growth.

Stock Price

On the day of the report, GATES INDUSTRIAL‘s stock opened at $14.0 and closed at $13.1 – a decrease of 1.6% from its previous closing price of $13.4. Despite the decreased stock price, GATES INDUSTRIAL’s Q2 FY2023 earnings report included a significant increase in revenue and profit compared to the same period of the previous year. The company also reported an increase in its gross margin and a reduction in its debt-to-equity ratio. Overall, the company’s Q2 FY2023 earnings report showed positive results and laid the foundation for future growth. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • 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%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • 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
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • 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
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • 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%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale can help you analyze GATES INDUSTRIAL‘s fundamentals so that you can make an informed investment decision. Our Risk Rating for GATES INDUSTRIAL is medium, so investors should consider potential risks when making their investment decisions. GoodWhale has detected 1 risk warning in the balance sheet, but to access detailed information you’ll need to register for an account. With GoodWhale, you’ll be able to see a full and transparent overview of GATES INDUSTRIAL’s financials and make an educated decision on your investment. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • 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.


    GATES INDUSTRIAL reported strong financial results for FY2023 Q2, with total revenue increasing by 3.3% and net income increasing by 22.2% year-on-year. This is indicative of the company’s healthy financial position and ability to generate profit in the face of challenging economic conditions. Investors should take note of the company’s successful strategies as GATES INDUSTRIAL continues to demonstrate impressive growth across its various business divisions. With strong fundamentals and increased focus on cost efficiency, GATES INDUSTRIAL is an attractive investment opportunity for long-term investors.

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