GTES - Gates Industrial Non-GAAP EPS of $0.26 beats by $0.04 revenue of $893.4M beats by $25.71M

Gates Industrial press release (NYSE:GTES): Q1 Non-GAAP EPS of $0.26 beats by $0.04. Revenue of $893.4M (+1.4% Y/Y) beats by $25.71M. The company is maintaining its FY2022 outlook, with core revenue expected to grow in the range of 5% to 9% vs. consensus growth of 5.4% and Adjusted EBITDA expected in the range of $755M to $805M. Adjusted EPS to be between $1.20 and $1.30 vs. consensus of $1.26. The company continues to expect capital expenditures to range between $100M and $120Mand Free Cash Flow conversion to be greater than 90% of Adjusted Net Income.

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Gates Industrial Non-GAAP EPS of $0.26 beats by $0.04, revenue of $893.4M beats by $25.71M