Gates Industrial Expects FY23 Adjusted EPS Of $1.22-$1.28 Vs $1.2 Estimate (Prior View: $1.18-$1.24); Sees FY23 Adjusted EBITDA Between $725M-$735M (Prior View: $710M-$740M)
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial has updated its FY23 forecast, expecting an adjusted EPS of $1.22-$1.28, up from the previous estimate of $1.18-$1.24. The company also anticipates FY23 adjusted EBITDA to be between $725M-$735M, slightly adjusted from the prior view of $710M-$740M.
November 03, 2023 | 12:08 pm
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Gates Industrial has raised its FY23 earnings forecast, which could potentially lead to a positive market reaction.
Companies often see their stock prices increase when they raise their earnings forecasts, as it signals stronger future performance. Therefore, Gates Industrial's updated FY23 forecast could potentially lead to a positive market reaction for its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100