U.S. Industrial Parts Stocks Plunge 7% Near Record Highs

Gates Industrial Corporation PLC (NYSE: GTES) closed at $24.40, down 7.54% from the previous trading session, on the New York Stock Exchange—approximately KRW 34,000 per share. Trading volume reached about 1.31 million shares, and market capitalization fell by roughly $430 million (around KRW 600 billion) in a single day to about $6.2 billion (approximately KRW 8.7 trillion).

The company recently announced the schedule for its fourth-quarter fiscal 2025 earnings release. In the first quarter of fiscal 2025, Gates Industrial delivered robust results, posting roughly $840 million in revenue and achieving positive core growth. Alongside its third-quarter fiscal 2025 results, the company also unveiled a share repurchase program of up to $300 million (around KRW 400 billion), underscoring its commitment to returning capital to shareholders.

Headquartered in Denver, Colorado, Gates Industrial manufactures power transmission and fluid control solutions—such as industrial belts and hoses—and supplies components to diverse sectors including automotive, construction, and general industry. As a global niche player with products sold in over 100 countries, the company’s performance is notably influenced by investment cycles and capacity-utilization rates in its cyclical end markets.