GATES INDUSTRIAL Reports Second Quarter Fiscal Year 2023 Earnings Results

August 25, 2023

🌥️Earnings Overview

On August 4 2023, GATES INDUSTRIAL ($NYSE:GTES) released its earning report for the second quarter of fiscal year 2023, which ended on June 30 2023. The total revenue for the period was USD 936.3 million, up 3.3% from the same quarter of last year. Net income for the quarter was USD 64.9 million, representing a 22.2% increase from the same period in the previous year.

Price History

On Friday, GATES INDUSTRIAL reported their second quarter earnings results for the fiscal year of 2023. At the opening of the trading day, the stock was priced at $14.0, but by the end of the day it had dropped to $13.1, a decrease of 1.6% from its last closing price of 13.4. GATES INDUSTRIAL’s stock performance was highly impacted by the earnings results, with shares dropping 1.6% from the previous day’s closing price. Despite the overall decline, GATES INDUSTRIAL still believes they are on track to meet their goals and projections for the fiscal year 2023. 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

    At GoodWhale, we provide investors with detailed financial analysis of companies to help them make informed decisions. We recently conducted an analysis of GATES INDUSTRIAL‘s financials and found that it is a medium risk investment in terms of both financial and business aspects. We also looked for any red flags in the company’s balance sheet and found that there is one risk warning. Investors can register with us to get further details about this risk warning. Doing so will also give them access to a range of other resources designed to help them make informed decisions about their investments. 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 earnings results for the second quarter of 2023. Total revenue increased by 3.3% year-over-year to USD 936.3 million, while net income rose by 22.2% to USD 64.9 million. This solid performance signals a positive outlook on the company’s future and suggests potential for long-term growth. Investors should consider GATES INDUSTRIAL as a potential investment opportunity, as it is well-positioned to capitalize on its current success and continue to provide returns in the future.

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