Gates Industrial Raises FY26 Guidance After Q3 Profit, Sales Growth

Gates Industrial (GTES) reported higher third-quarter 2026 income and raised its full-year guidance, the company said Friday. Net income rose to $86.5 million, or $0.34 per share, from $81.6 million, or $0.31 per share, a year earlier. Adjusted net income climbed to $119.5 million, or $0.47 per share, from $100.7 million, or $0.39 per share. Adjusted EBITDA increased to $215.4 million from $195.8 million, while net sales rose to $903.6 million from $855.7 million. For 2026, the company lifted its adjusted EBITDA outlook to $809 million to $823 million from $800 million to $830 million, and its adjusted EPS range to $1.66 to $1.72 from $1.62 to $1.70. Shares rose 0.63 percent to $23.98 in after-hours trading on the NYSE, after closing Friday's session down 9.22 percent.