Gates Industrial Corporation Ltd. reported second-quarter 2026 financial results for the period ended June 27, 2026. The company generated net sales of $941.6 million, a 6.6% increase from the prior-year period, driven by a 4.9% core sales growth. Net income attributable to shareholders was $170.9 million, or $0.67 per diluted share, compared to $56.5 million in the previous year. Adjusted EBITDA reached $211.4 million with a margin of 22.5%. Management raised full-year 2026 guidance, increasing core sales growth expectations to 2.5%–4.5%, adjusted EBITDA to $800–$830 million, and adjusted EPS to $1.62–$1.70. Gates Industrial Corporation Ltd. operates in the industrial manufacturing sector, providing application-specific fluid power and power transmission solutions globally.

Gates Industrial Corporation plc consummated its redomiciliation from England and Wales to Bermuda through a statutory scheme of arrangement. As part of the transaction, Old Gates Shares were exchanged for New Gates Shares on a one-for-one basis, and New Gates began trading on the NYSE under the same symbol "GTES" effective July 20, 2026. The company is a manufacturer of industrial and automotive products.

The High Court of Justice of England and Wales approved a statutory scheme of arrangement for Gates Industrial Corporation plc to undergo redomiciliation. Under the Scheme, New Gates, a Bermuda exempted company, will become the parent holding company of the Gates Group. On the expected effective date of July 20, 2026, each Old Gates ordinary share will be cancelled and replaced with an equivalent number of New Gates common shares. Trading of Old Gates shares on the New York Stock Exchange is expected to conclude on July 17, 2026, with New Gates shares commencing trading under the ticker symbol GTES on July 20, 2026. Gates Industrial Corporation plc is an industrial manufacturer specializing in power transmission and fluid power solutions.

On June 25, 2026, shareholders approved a scheme of arrangement to redomicile the company's jurisdiction of incorporation from England and Wales to Bermuda. The process involves the issuance of common shares of Gates Industrial Corporation Ltd. to existing shareholders on a one-for-one basis. The proposed effective date for the cancellation of old shares and issuance of new shares is July 20, 2026, subject to High Court of Justice approval on July 16, 2026. The company operates in the industrial sector, manufacturing power transmission and fluid power products.