Gates Industrial Reports Fourth-Quarter and Full-Year 2020 Results
DENVER, Feb. 8, 2021 /PRNewswire/ --
Fourth-Quarter 2020 Highlights
Net sales up 9.4%, including core revenue growth of 8.6%, compared to the prior-year period.
Net income attributable to shareholders of $24.3 million, or $0.08 per diluted share.
Adjusted Net Income of $57.7 million, or $0.20 per diluted share.
Adjusted EBITDA margin of 20.5%, representing year-over-year expansion of 190 basis points.
Net cash provided by operations of $181.5 million.
Free Cash Flow of $159.7 million, or 276.8% of Adjusted Net Income.
Repaid $300 million of long-term debt.
Initiating full-year 2021 guidance.
Gates Industrial Corporation plc (NYSE:GTES), a leading global provider of application-sp
