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Dec 31, 2022
Gates Industrial Q4 2022 Earnings Report
Gates Industrial reported strong Q4 2022 results with revenue growth and margin expansion.
Key Takeaways
Gates Industrial reported a strong fourth quarter with net sales of $893.3 million, a 9.5% increase year-over-year, and core revenue growth of 16.0%. Net income attributable to shareholders was $84.9 million, or $0.30 per diluted share. The company's Adjusted EBITDA was $166.0 million, representing a margin of 18.6%.
Net sales increased by 9.5% to $893.3 million, with core revenue growth of 16.0%.
Net income attributable to shareholders was $84.9 million, or $0.30 per diluted share.
Adjusted EBITDA reached $166.0 million, with a margin of 18.6%.
Free Cash Flow was $225.7 million.
Gates Industrial
Gates Industrial
Gates Industrial Revenue by Segment
Revenue by Segment
Power Transmission Revenue
CapyFin.comFluid Power Revenue
CapyFin.com Forward Guidance
In 2023, the Company expects its core revenue to grow in a range of 1% to 5%. Adjusted EBITDA is anticipated to be in a range of $700 million to $750 million. Adjusted Earnings per Share is expected to be between $1.13 and $1.23.
Positive Outlook
- Core revenue is expected to grow between 1% and 5%.
- Adjusted EBITDA is anticipated to be between $700 million and $750 million.
- Adjusted EBITDA is estimated to increase approximately 7% at the midpoint.
- Adjusted Earnings per Share is expected to be between $1.13 and $1.23.
- Free Cash Flow conversion to measure approximately 100%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income