Gates Industrial Corporation PLC reports results for the quarter ended in December - Earnings Summary

Gates Industrial

08/02/2024 16:24

* Gates Industrial Corporation PLC  GTES.N  reported
quarterly
adjusted earnings of 39 cents​​ per share for the quarter ended
in December, higher than the same quarter last year, when the
company reported EPS of 25 cents.  The mean expectation of
nine analysts for the quarter was for earnings of 28 cents per
share. Wall Street expected results to range from 25 cents to 29
cents per share.
    * Revenue fell 3.4% to $863.30 million from a year ago;
analysts
expected $862.89 million. 
    * Gates Industrial Corporation PLC's reported EPS for the
quarter
was 24 cents​.
    * The company reported quarterly net income of $62.9
million.
    * Gates Industrial Corporation PLC shares had fallen by 1.2%
this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Gates Industrial
Corporation PLC is $14.00 
This summary was machine generated from LSEG data February 8 at
04:24 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.28           0.39           Beat
 Sep. 30 2023      0.31           0.35           Beat
 Jun. 30 2023      0.33           0.36           Beat
 Mar. 31 2023      0.26           0.25           Missed