A maker of belts, hoses, and fittings that keep machines and vehicles running, sold in over 130 countries under the Gates brand. Founded in 1911 when Charles Gates bought a struggling Denver shop and later invented the V-belt with his brother John, replacing rope belts on machinery. Its first product was the "Durable Tread," a steel-studded leather band motorists strapped to their tires to make them last longer.
Gates Industrial reports Q2 2026 net sales of $941.6M, up 6.6%, and raises 2026 guidance.
Net income attributable to shareholders was $170.9 million, or $0.67 per diluted share; Adjusted Net Income per diluted share was $0.44.
Show detailsHide details
Second-quarter 2026 net sales were $941.6 million, up 6.6% year-over-year, with core sales growth of 4.9%.
Adjusted EBITDA was $211.4 million, or 22.5% of net sales; net income from continuing operations was $178.2 million, an 18.9% margin.
The company raised its full-year 2026 guidance: core sales growth now 2.5% to 4.5%, Adjusted EBITDA $800 to $830 million, and Adjusted EPS $1.62 to $1.70.
Power Transmission segment net sales rose 7.0% to $588.5 million; Fluid Power segment net sales rose 5.8% to $353.1 million in the quarter.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Gates Industrial receives court approval for redomiciliation to Bermuda, effective July 20, 2026.
The scheme was previously approved by Old Gates shareholders on June 25, 2026.
Show detailsHide details
On July 16, 2026, the High Court of Justice of England and Wales approved the scheme of arrangement for Gates Industrial's redomiciliation.
New Gates, a Bermuda exempted company, will become the parent holding company of the Gates Group.
Old Gates shares will be cancelled and shareholders as of 5:00 p.m. ET on July 17, 2026 will receive an equivalent number of New Gates shares.
Old Gates shares are expected to last trade on the NYSE on July 17, 2026, with New Gates shares trading under the same ticker 'GTES' starting July 20, 2026.
Gates shareholders approve redomiciliation from England and Wales to Bermuda
On June 25, 2026, Gates Industrial Corporation plc held two shareholder meetings (Court Meeting and General Meeting) and obtained approval for the scheme of arrangement to effect its redomiciliation to Bermuda.
Show detailsHide details
At the Court Meeting, the resolution to approve the scheme passed with 232,587,896 votes for and 914,464 against, with about 91.90% of eligible shares present.
At the General Meeting, all four resolutions (Scheme Proposal, Reduction of Capital Proposal, New Share Issuance Proposal, and Articles Amendment Proposal) passed with over 231 million votes for each and less than 1 million against or abstaining.
The redomiciliation will result in the issuance of New Gates common shares to existing shareholders on a one-for-one basis, and Gates Industrial Corporation will become a wholly-owned subsidiary of New Gates.
The proposed timetable includes a Court hearing on July 16, 2026, an effective date of July 20, 2026, and listing and trading of New Gates Shares on the NYSE starting at market open on July 20, 2026.
5.07 Submission of Matters to a Vote of Security Holders · 7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Shareholder vote8-K
Gates Industrial shareholders approve all eight resolutions at 2026 AGM
Gates Industrial Corporation plc held its 2026 annual general meeting on June 4, 2026.
Show detailsHide details
Shareholders elected all eight director nominees, with each receiving a majority of votes cast.
Advisory votes on executive compensation and the directors' remuneration report were approved.
Deloitte & Touche LLP was ratified as independent auditor, and Deloitte LLP was re-appointed as U.K. statutory auditor.
Shareholders authorized the Board to allot equity securities and, as a special resolution, to allot without pre-emptive rights.
5.07 Submission of Matters to a Vote of Security Holders
Gates Industrial reports Q4 2025 net sales of $856.2M, up 3.2% year-over-year
Fourth-quarter 2025 net sales were $856.2 million, up 3.2% from the prior-year period, with core sales growth of 0.6%.
Show detailsHide details
Full-year 2025 net sales were $3,443.2 million, up 1.0% year-over-year, with core sales growth of 0.7%.
Fourth-quarter net income attributable to shareholders was $51.3 million, or $0.20 per diluted share; adjusted net income per diluted share was $0.38.
Full-year 2025 net income attributable to shareholders was $251.4 million, or $0.96 per diluted share; adjusted net income per diluted share was $1.52.
The company introduced 2026 guidance: core sales growth of 1% to 4%, adjusted EBITDA of $775 million to $835 million, adjusted EPS of $1.52 to $1.68, capital expenditures of approximately $120 million, and free cash flow conversion exceeding 90%.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Gates Industrial reports Q3 2025 net sales of $855.7M, up 3.0%
Third-quarter net sales were $855.7 million, up 3.0% year-over-year, with core sales growth of 1.7%.
Show detailsHide details
Net income attributable to shareholders was $81.6 million, or $0.31 per diluted share; adjusted net income per diluted share was $0.39.
Adjusted EBITDA was $195.8 million, a margin of 22.9%, up 90 basis points year-over-year.
The company raised its 2025 adjusted EPS guidance to $1.48-$1.52 and announced a new $300 million share repurchase authorization valid through December 2026.
During the quarter, the company paid down $100 million of gross debt.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Gates Industrial reports Q2 2025 net sales of $883.7M, raises full-year guidance
Second-quarter 2025 net sales were $883.7 million, down 0.2% year-over-year, with core sales declining 0.6%.
Show detailsHide details
Net income attributable to shareholders was $56.5 million, or $0.22 per diluted share; Adjusted Net Income per diluted share was $0.39.
Adjusted EBITDA was $199.2 million, or a 22.5% margin; net income from continuing operations was $63.4 million, or a 7.2% margin.
The company raised its full-year 2025 guidance: core sales growth of +0.5% to +2.5%, Adjusted EBITDA of $765M to $795M, and Adjusted EPS of $1.44 to $1.52.
Power Transmission segment net sales rose 1.5% to $550.1M, while Fluid Power segment net sales fell 2.9% to $333.6M in the quarter.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits