Gates Industrial Corp Raises FY2024 Adj EPS Guidance from $1.29-1.35 to $1.33-1.37 vs $1.31 Est; Core Sales growth of -4 to -3%.
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial Corp (NYSE:GTES) has raised its FY2024 adjusted EPS guidance to $1.33-1.37, surpassing the analyst estimate of $1.31. The company also narrowed its FY2024 sales outlook to $3.44 billion-$3.47 billion, slightly above the $3.41 billion estimate.
October 30, 2024 | 12:11 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Gates Industrial Corp has increased its FY2024 adjusted EPS guidance to $1.33-1.37, which is above the analyst estimate of $1.31. The company also narrowed its sales outlook to $3.44 billion-$3.47 billion, slightly above the $3.41 billion estimate.
The upward revision of the EPS guidance above analyst estimates is a positive indicator for the company's financial performance, likely boosting investor confidence. The narrowed sales outlook, while slightly above estimates, suggests a more focused and potentially stable revenue forecast.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100