Filing Flows › Gates Industrial (GTES) › Q2 2026 › vs Q2 2025
Gates Industrial (GTES) Q2 2026 vs Q2 2025 (year over year)
Gates Industrial's revenue rose $57.9M (+7%) from $884M in Q2 2025 to $942M in Q2 2026. The biggest changes: Power Transmission +$38.4M (+7%); Fluid Power +$19.5M (+6%). Gross margin 41.0% against 40.8% (+0.2 pts).
Gates Industrial, Q2 2026: revenue $942M (+7% year over year), operating margin 14.0%, net earnings $171M, operating cash flow $78.6M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 41.0% | 40.8% | +0.2 pts |
| Operating margin | 14.0% | 13.1% | +0.9 pts |
| Net margin | 18.1% | 6.4% | +11.8 pts |
| Free cash flow margin | 6.4% | 9.5% | -3.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Power Transmission | $588M | $550M | $38.4M | +7% |
| Fluid Power | $353M | $334M | $19.5M | +6% |
| Revenue | $942M | $884M | $57.9M | +7% |
| Gross profit | $386M | $360M | $25.9M | +7% |
| Cost of revenue | $556M | $524M | $32.0M | +6% |
| Operating profit | $132M | $116M | $15.8M | +14% |
| Operating expenses | $254M | $244M | $10.1M | +4% |
| Pre-tax earnings | $100M | $79.9M | $20.3M | +25% |
| Other expense, net | $31.4M | $35.9M | −$4.5M | -13% |
| SG&A | $251M | $231M | $19.5M | +8% |
| Other operating costs | $3.8M | $13.2M | −$9.4M | -71% |
| Income tax benefit | $78.0M | −$16.8M | $94.8M | — |
| Net earnings | $171M | $56.5M | $114M | +202% |
| Minority interests | $7.1M | $6.6M | $500K | +8% |
| Depreciation & amortization | $57.1M | $53.3M | $3.8M | +7% |
| Share-based compensation | $9.4M | $9.6M | −$200K | -2% |
| Working capital & other | $159M | $16.4M | $142M | +868% |
| Operating cash flow | $78.6M | $103M | −$24.4M | -24% |
| Free cash flow (OCF − capex) | $60.3M | $83.6M | −$23.3M | -28% |
| Capital expenditures | $18.3M | $19.4M | −$1.1M | -6% |
Questions
How much did Gates Industrial's revenue grow year over year in Q2 2026?
Gates Industrial's revenue rose $57.9M (+7%) from $884M in Q2 2025 to $942M in Q2 2026.
What drove Gates Industrial's revenue change in Q2 2026?
Power Transmission +$38.4M (+7%); Fluid Power +$19.5M (+6%).