Quarterly ResultJul 31, 2026, 04:18 PM
Gates Industrial Q2 Net Income Jumps to $170.9M; EPS $0.67
AI Summary
Gates Industrial Corp plc reported strong financial results for the second quarter and first half of 2026. Net income attributable to shareholders for Q2 2026 significantly increased to $170.9 million, up from $56.5 million in the prior year, with basic EPS rising to $0.67. The company also saw an increase in net sales to $941.6 million and Adjusted EBITDA to $211.4 million for the quarter. Additionally, the company completed its redomiciliation from England and Wales to Bermuda on July 20, 2026.
Key Highlights
- Net income attributable to shareholders for Q2 2026 increased to $170.9M from $56.5M in Q2 2025.
- Basic EPS for Q2 2026 rose to $0.67 from $0.22 in Q2 2025.
- Net sales for Q2 2026 increased to $941.6M from $883.7M in Q2 2025.
- Adjusted EBITDA for Q2 2026 grew to $211.4M from $199.2M in Q2 2025.
- Power Transmission segment net sales for Q2 2026 were $588.5M, up from $550.1M in Q2 2025.
- Fluid Power segment net sales for Q2 2026 were $353.1M, up from $333.6M in Q2 2025.
- Company completed redomiciliation from England and Wales to Bermuda on July 20, 2026.
- Net cash provided by operating activities for H1 2026 was $108.8M, compared to $110.3M in H1 2025.
Price Impact
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