GTES: Wolfe Global Transportation & Industrials Conference Abridged Transcript

研报英文原文证据摘录

GTES: Wolfe Global Transportation & Industrials Conference Abridged Transcript

May 19, 2026

GTES Wolfe Global Transportation & Industrials Conference Abridged Transcript

Tuesday, May 19, 2026

Please find below, our detailed notes from the Gates Corporation (GTES) presentation at the Wolfe Global

Transportation & Industrials Conference. Please excuse any unintentional typos in the interests of getting this to you

quickly. In the meantime, let us know if you have any questions.

PLEASE REFER TO THE DISCLOSURE SECTION LOCATED AT THE END OF THIS REPORT.

Company Attendees – Ivo Jurek, CEO & Rich Kwas, SVP Investor Relations

Q&A

●Sustainability of Expansionary Manufacturing Cycle: 65% of GTES revenue came from aftermarket. POS data

suggests that the underlying business is performing well. Inventories in the channel are not building up, so any

conversations about pre-buy is not real. GTES feels good about where inventories stand. About 80% of GTES' end

market exposure is in expansion, with some end markets that have turned from negative to more neutral. Some

end markets are seeing a reasonable level of strength in order intake and the underlying businesses. The current

business environment feels better than just a head fake. The macro remains somewhat uncertain.

●Order and Revenue Trends: Saw pretty good strength that was reasonable broad in April. The orders in April were

trending very nicely, revenue was trending very positively and mgmt. feels "better than okay". There were four

years of negative PMIs prior to 2026, which was unprecedented. There is a lot of underlying pent up demand, and

mgmt. believes that if we start seeing a little more macro stability, end market demand could get more constructive.

April was good, May is on trajectory to expectations.