Filing Flows › Gates Industrial (GTES) › Q1 2026
Gates Industrial (GTES) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Gates Industrial (GTES) reported revenue of $851M for the first quarter 2026 (Q1 2026), +0.4% from a year earlier and -0.6% from the quarter before. Operating margin was 12.9%, net earnings $59.7M (7.0% of revenue).
Gates Industrial, Q1 2026: revenue $851M (+0.4% year over year), operating margin 12.9%, net earnings $59.7M, operating cash flow $30.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $851M | -0.6% | +0.4% |
| Gross profit | $338M | +4% | -2% |
| Operating profit | $110M | +1% | -13% |
| Net earnings | $59.7M | +16% | -4% |
| Operating cash flow | $30.2M | -89% | +314% |
| Free cash flow | $13.5M | -95% | — |
What changed
Revenue was $851.1M in Q1 2026, roughly flat year over year and down 1% from the previous quarter. Power Transmission was the largest line at 63% of revenue. Power Transmission added $6.0M year over year (up 1%), 171% of the total change. Fluid Power declined 1%.
Gross margin was 39.7%, down 0.9 points from Q1 2025. Operating profit was $109.9M, a 12.9% margin (down 1.9 points year over year). Operating profit fell $15.9M even though revenue rose $3.5M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 4% against flat revenue. Net earnings were $59.7M, down 4% year over year. The effective tax rate was 14.8%.
Operating cash flow was $30.2M (up 314% year over year), 46% of net income including minority interests. Non-cash charges added back $55.7M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items used $98.0M. Capital expenditures of $16.7M left free cash flow of $13.5M.
Questions
What was Gates Industrial's revenue in the first quarter 2026?
Gates Industrial (GTES) reported revenue of $851M for the first quarter 2026 (Q1 2026), +0.4% from a year earlier and -0.6% from the quarter before.
Was Gates Industrial profitable in the first quarter 2026?
Operating profit was $110M (12.9% of revenue) and net earnings $59.7M.
Source: Gates Industrial 10-Q on SEC EDGAR.