Gates Industrial Corporation plc (GTES) Reports In-Line Q1 EPS

Gates Industrial Corporation plc (NYSE: GTES) reported Q1 EPS of $0.28, in-line with the analyst estimate of $0.28. Revenue for the quarter came in at $804.9 million versus the consensus estimate of $840.18 million.

2019 Outlook

The Company is updating its full-year 2019 outlook for core revenue growth, Adjusted EBITDA and capital expenditures. Core revenue growth is now expected to be in the range of 0% to 2%. Adjusted EBITDA is expected to be in the range of $740 million to $760 million and the Company expects total capital expenditures of approximately $140 million. Free cash flow conversion is expected to be greater than 80% of Adjusted Net Income, with net leverage at approximately 3.0 times Adjusted EBITDA at year end, absent M&A activity.

For earnings history and earnings-related data on Gates Industrial Corporation plc (GTES) click here.

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