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

Gates Industrial

03/11/2023 13:33

* Gates Industrial Corporation PLC  GTES.N  reported
quarterly
adjusted earnings of 35 cents​​ per share for the quarter ended
in September, higher than the same quarter last year, when the
company reported EPS of 31 cents.  The mean expectation of
nine analysts for the quarter was for earnings of 31 cents per
share. Wall Street expected results to range from 28 cents to 33
cents per share.
    * Revenue rose 1.4% to $872.90 million from a year ago;
analysts
expected $877.78 million. 
    * Gates Industrial Corporation PLC's reported EPS for the
quarter
was 29 cents​.
    * The company reported quarterly net income of $78.7
million.
    * Gates Industrial Corporation PLC shares had fallen by 4.1%
this
quarter and lost 2.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1% 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 $15.00 
This summary was machine generated from LSEG data November 3 at
01:32 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.31           0.35           Beat
 Jun. 30 2023      0.33           0.36           Beat
 Mar. 31 2023      0.26           0.25           Missed
 Dec. 31 2022      0.23           0.25           Beat