Gates Industrial Corp Q3 Adj $0.33 Beats $0.31 Estimate, Sales $830.70M Miss $831.18M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial Corp reported Q3 earnings of $0.33 per share, beating estimates of $0.31, but sales of $830.70M missed the $831.18M estimate. Earnings decreased by 5.71% and sales by 4.83% compared to last year.
October 30, 2024 | 12:01 pm
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NEUTRAL IMPACT
Gates Industrial Corp's Q3 earnings per share beat expectations, but sales slightly missed. Both earnings and sales decreased compared to the previous year.
The earnings per share beat expectations, which is positive, but the sales miss and year-over-year declines in both earnings and sales could neutralize the positive impact. The market may react neutrally in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100