Gates Industrial Corp ( (GTES) ) has released its Q4 earnings. Here is a breakdown of the information Gates Industrial Corp presented to its investors.
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Gates Industrial Corporation plc is a global provider of innovative, highly engineered power transmission and fluid power solutions, serving diverse industrial and consumer markets worldwide. Gates Industrial reported a decrease in both fourth-quarter and full-year 2024 net sales, reflecting challenges in key markets such as Agriculture and Construction, while showing resilience with growth in Automotive sectors. The company’s fourth-quarter net sales stood at $829.4 million, a 3.9% decline, while full-year net sales were $3,408.2 million, marking a 4.5% decrease from the previous year. Despite these declines, Gates achieved improvements in gross margin and adjusted EBITDA margins for the year, supported by enterprise initiatives enhancing manufacturing performance and pricing. The company also reduced its debt levels and continued its share repurchase program. Gates Industrial’s strategic focus on profitability and capital deployment positions it well for future growth. The management remains optimistic about further improvements and has introduced financial guidance for 2025, anticipating core sales growth, a strong adjusted EBITDA, and significant free cash flow conversion.
