Gates Industrial Corp Q2 2024 Adj. EPS $0.36, Inline, Sales $885.500M Miss $895.588M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial Corp (NYSE:GTES) reported Q2 2024 adjusted EPS of $0.36, meeting analyst expectations. However, the company missed sales estimates, reporting $885.5 million compared to the expected $895.588 million, a 1.13% shortfall and a 5.43% decrease from the same period last year.
July 31, 2024 | 11:33 am
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Gates Industrial Corp reported Q2 2024 adjusted EPS of $0.36, meeting analyst expectations. However, sales missed estimates by 1.13%, coming in at $885.5 million, a 5.43% decrease from the same period last year.
While the EPS met expectations, the sales miss and year-over-year decline are likely to weigh on investor sentiment, potentially leading to a short-term decrease in the stock price.
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IMPORTANCE 80
RELEVANCE 100