Gates Industrial Corp Q1 2024 Adj EPS $0.31 Misses $0.32 Estimate, Sales $862.600M Miss $870.272M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial Corp (GTES) reported Q1 2024 earnings of $0.31 per share, missing the consensus estimate of $0.32. Sales were $862.6M, below the $870.272M estimate, marking a 3.91% decrease from the previous year.
May 01, 2024 | 12:09 pm
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Gates Industrial Corp reported lower than expected Q1 2024 earnings and sales, missing analyst estimates.
Missing earnings and sales estimates can lead to negative investor sentiment and potentially lower stock prices in the short term. The reported decrease in sales compared to the previous year further emphasizes the company's current challenges.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100