Gates Industrial narrows FY25 adjusted EPS view to $1.48-$1.52 from $1.44-$1.52

Consensus is for FY25 EPS $1.50. Sees FY25 Core sales growth in the range +0.5%-+1.5% year-over-year; Adjusted EBITDA $770M-$790M; Capital Expenditures $120M; and Free Cash Flow conversion 80%-90%. Ivo Jurek, CEO, said, “We have raised our adjusted EPS guidance towards the high-end of the prior range. We are executing our footprint optimization initiatives and anticipate to reduce our structural cost position over the first half of next year. We are seeing solid revenue generation opportunities with our secular growth initiatives and are optimistic about our business prospects in the mid-term.”