Headquartered in Denver, CO Fiscal year ends December NYSE: GTES gates.com
Gates Industrial Corporation Ltd. (NYSE: GTES) is a global manufacturer of highly engineered power transmission and fluid power solutions.
It reports two segments:
- **Power Transmission:** belts and related drive components; the larger segment.
- **Fluid Power:** hoses, fittings and related fluid conveyance products.
Gates sells to diverse aftermarket channel customers and to original equipment manufacturers as specified components. It tracks Industrial OEM and Industrial Aftermarket channels among its key sales channels.
Its products serve a wide range of end markets:
- Harsh and hazardous industries such as agriculture, construction, manufacturing and energy.
- Everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners.
- Virtually every form of transportation.
Gates sells in more than 130 countries across three commercial regions: the Americas; Europe, Middle East & Africa; and Asia Pacific. Updated
Gross margin widened to 42.4% from 39.9% a year ago, enough to beat EPS expectations even with sales missing expectations. Management raised full-year adjusted EPS guidance to $1.66 to $1.72.
Public offerings of stock tempted some insider buying, and one insider stepped up to support a struggling online delivery service provider.
Gates Industrial Corporation Ltd. (NYSE: GTES) is a global manufacturer of highly engineered power transmission and fluid power solutions. It reports two segments: - **Power Transmission:** belts and related drive components; the larger segment. - **Fluid Power:** hoses, fittings and related fluid conveyance products.
24/7 Wall St.'s 12-month price target for GTES is $32.46, rated Buy. The Wall Street consensus target is $32.75. GTES price prediction →
