Gates Industrial Corporation PLC reports results for the quarter ended in September 30 - Earnings Summary

Gates Industrial

30/10/2024 15:18

* Gates Industrial Corporation PLC  GTES.N  reported
quarterly
adjusted earnings of 33 cents​​ per share for the quarter ended
September 30, lower than the same quarter last year, when the
company reported EPS of 35 cents.  The mean expectation of
eleven analysts for the quarter was for earnings of 31 cents per
share. Wall Street expected results to range from 27 cents to 32
cents per share.
    * Revenue fell 4.8% to $830.70 million from a year ago;
analysts
expected $831.18 million. 
    * Gates Industrial Corporation PLC's reported EPS for the
quarter
was 18 cents​.
    * The company reported quarterly net income of $47.6
million.
    * Gates Industrial Corporation PLC shares had risen by 4.0%
this
quarter and gained 36.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.2%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 4
"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 21.00 
This summary was machine generated from LSEG data October 30 at
03:17 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
 Sep. 30 2024      0.31           0.33           Beat
 Jun. 30 2024      0.36           0.36           Met
 Mar. 31 2024      0.32           0.31           Missed
 Dec. 31 2023      0.28           0.39           Beat