Gates Industrial Corporation plc Q1 2026 Financial Results

Gates Industrial Corporation plc reported its first-quarter 2026 financial results for the period ended March 28, 2026. The company announced net sales of $851.1 million, a slight increase of 0.4% compared to the prior-year period, with a core revenue decrease of 2.9%. Net income attributable to shareholders was $59.7 million, or $0.23 per diluted share, while Adjusted Net Income per diluted share was $0.35. Net income from continuing operations was $66.4 million, resulting in a margin of 7.8%. Adjusted EBITDA was reported at $177.4 million, with a margin of 20.8%. The company reiterated its full-year 2026 guidance, expecting core sales growth between 1% and 4%, Adjusted EBITDA of $775 million to $835 million, and Adjusted Earnings Per Share of $1.52 to $1.68. The company also noted successful implementation of a new enterprise resource planning system in Europe and positive order rates.