Gates Industrial Corp Q3 Adj. EPS $0.35 Beats $0.31 Estimate, Sales $872.90M Miss $877.78M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial Corp (NYSE:GTES) reported Q3 adjusted earnings of $0.35 per share, beating the analyst consensus estimate of $0.31 by 12.9%. However, the company's quarterly sales of $872.90 million missed the analyst consensus estimate of $877.78 million by 0.56%.
November 03, 2023 | 12:03 pm
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NEUTRAL IMPACT
Gates Industrial Corp's Q3 earnings beat estimates but sales missed, which could lead to mixed market reactions.
Gates Industrial Corp's earnings beat could be seen as a positive sign by investors, potentially driving the stock price up. However, the missed sales estimate could also be seen as a negative sign, potentially driving the stock price down. The net effect on the stock price is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100