GTES - Gates Industrial beats Q2 top and bottom line estimates; raises FY23 outlook

2023-08-04 08:12:36 ET

• Gates Industrial press release ( NYSE: GTES ): Q2 Non-GAAP EPS of $0.36 beats by $0.03 .
• Revenue of $936.3M (+3.3% Y/Y) beats by $2.35M .
• Adjusted EBITDA of $197.3 million, or a margin of 21.1%.
• Raising 2023 full-year EPS guidance : Core Revenue Growth of 0 to 2% vs. estimated growth of 2.43% Y/Y; Adjusted EBITDA of $710 to $740 Million; Adjusted EPS of $1.18 to $1.24 vs. consensus of $1.19; Capital Expenditures of <$100 Million; Free Cash Flow Conversion of 100%+.

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