Gates Industrial Revised FY24 Adj. EPS Guidance To $1.29 to $1.35 (From $1.28 - $1.43) vs. $1.38 Est., Core Revenue Growth Outlook To (4%) to (2%) From (3%) To +1%
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Gates Industrial has revised its FY24 adjusted EPS guidance to a range of $1.29 to $1.35, down from the previous range of $1.28 to $1.43, and below the estimated $1.38. The company also adjusted its core revenue growth outlook to a range of -4% to -2%, from the previous range of -3% to +1%.
July 31, 2024 | 11:39 am
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Gates Industrial has revised its FY24 adjusted EPS guidance to a range of $1.29 to $1.35, down from the previous range of $1.28 to $1.43, and below the estimated $1.38. The company also adjusted its core revenue growth outlook to a range of -4% to -2%, from the previous range of -3% to +1%.
The downward revision in both EPS guidance and core revenue growth outlook indicates potential challenges for Gates Industrial. The new EPS range is below the market estimate, which could lead to a negative short-term impact on the stock price.
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