Gates Industrial Corp PLC (GTES) stock soared 5.39% on Thursday intraday trading, following the company's better-than-expected fourth-quarter results and an upbeat outlook for 2025.
The Denver-based manufacturer of power transmission and fluid power systems reported a 3.9% year-over-year decline in fourth-quarter revenue to $829.4 million, due to lower volume and unfavorable foreign currency, but this figure surpassed Wall Street's expectations of $827.98 million. The company's adjusted earnings per share of $0.36 also beat analysts' consensus estimate of $0.33.
Gates Industrial's strong performance was driven by ongoing benefits from its enterprise initiatives, which favorably impacted manufacturing performance, pricing, and product mix. The company's adjusted EBITDA margin expanded by 30 basis points to 21.8%, reflecting these improvements.
Looking ahead, Gates Industrial provided an optimistic outlook for fiscal year 2025. The company expects core sales growth in the range of -0.5% to 3.5% year-over-year, with adjusted EBITDA projected between $735 million and $795 million. Adjusted earnings per share are anticipated to be in the range of $1.36 to $1.52, surpassing analysts' expectations of $1.51.
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