GTES · Gates Industrial Corp Ltd.
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AI Brief
Q2 FY26 earnings call · Jul 31, 2026TL;DR. Gates delivered record Q2 2026 sales of $941.6M with 4.9% core growth and record adjusted EPS of $0.44, but Fluid Power segment adjusted EBITDA margin contracted 120 bps, and the company raised full-year guidance for core sales growth, adjusted EBITDA, and adjusted EPS.
- + Q2 2026 net sales rose 6.6% to a record $941.6M with core sales growth of 4.9% and record adjusted EPS of $0.44
- + Company raised full-year 2026 core sales growth guidance by 100 bps at the midpoint to 2.5%-4.5%
- + Company raised full-year 2026 adjusted EBITDA guidance by $10M at the midpoint to $800M-$830M
- + Company raised full-year 2026 adjusted EPS guidance by $0.06 at the midpoint to $1.62-$1.70
- + Net leverage ratio improved 0.4x to 1.8x and trailing 12-month free cash flow conversion reached 94%
- − Fluid Power segment adjusted EBITDA margin contracted 120 bps year-over-year, driven by footprint realignment costs and enterprise initiative investments
- − Q2 included pricing lag versus oil-related cost increases, with higher-cost inventory expected to flow through in Q3
- − South America core sales declined, primarily driven by soft agricultural demand
- − Q3 incrementals expected to be diluted to 35%-40% range as pricing actions catch up to cost increases
- − Q2 GAAP net income from continuing operations was inflated by a $100.7M discrete tax benefit that is non-recurring
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Specialty Industrial Machinery — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
GTES
this stock
Gates Industrial Corp Ltd.
|
$6.80B | +23.4% | +1.0% | 19.2 | 4.9% |
|
GEV
GE Vernova Inc.
|
$255.05B | +51.1% | +9.0% | 27.5 | 3.3% |
|
ETN
Eaton Corp plc
|
$170.89B | +37.3% | +10.3% | 44.8 | 2.0% |
|
SMERY
Siemens Energy AG/ADR
|
$139.03B | — | — | — | 0.0% |
|
PH
Parker-Hannifin Corp
|
$123.32B | +9.9% | +18.9% | 34.4 | 1.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| GTES | +0.9% | +6.4% | +4.0% | +1.2% | +23.4% |
| SPY | -0.4% | -0.2% | +12.4% | +0.2% | +12.0% |
| vs SPY | +1.3% | +6.5% | -8.4% | +1.0% | +11.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.