Gates Industrial Corp Q4 2023 Adj EPS $0.39 Beats $0.28 Estimate, Sales $863.30M Beat $862.89M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial Corp (GTES) reported Q4 2023 adjusted EPS of $0.39, surpassing the $0.28 estimate, with sales of $863.30M also beating the $862.89M estimate. However, this represents a 3.36% decrease in sales compared to the same period last year.
February 08, 2024 | 12:34 pm
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Gates Industrial Corp reported higher than expected Q4 2023 earnings and sales, with an EPS of $0.39 against a $0.28 estimate and sales of $863.30M beating the $862.89M estimate.
Beating both earnings and sales estimates typically has a positive impact on a company's stock price in the short term. However, the reported decrease in sales year-over-year might temper investor enthusiasm, hence the importance is not at the maximum. The confidence in this analysis is high due to the clear beat on both key financial metrics.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100