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Dec 28, 2019
Gates Industrial Q4 2019 Earnings Report
Gates Industrial's Q4 2019 financial performance was reported, revealing a decrease in net sales and net income compared to the prior-year period, while the company focused on execution amidst challenging market conditions.
Key Takeaways
Gates Industrial reported Q4 2019 net sales of $725.7 million, a decrease of 8.4% compared to the prior-year period. Net income attributable to shareholders was $19.4 million, or $0.07 per diluted share, compared to $75.6 million, or $0.26 per diluted share, in the prior-year period. Adjusted Net Income was $56.5 million, or $0.19 per diluted share.
Net sales decreased by 8.4% year-over-year to $725.7 million, with a core revenue decline of 7.6%.
Net income attributable to shareholders was $19.4 million, or $0.07 per diluted share.
Adjusted Net Income reached $56.5 million, or $0.19 per diluted share.
The company generated $179.1 million in free cash flow, representing a conversion rate of 317% of Adjusted Net Income.
Forward Guidance
The Company is introducing its full-year 2020 outlook, with core revenue expected to range from a decline of -1.0% to growth of 2.0%, and Adjusted EBITDA expected in the range of $610 million to $640 million. The Company expects total capital expenditures of approximately $100 million and Free Cash Flow Conversion to be greater than 80% of Adjusted Net Income.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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