Recap: Gates Industrial Corp Q2 Earnings - Gates Industrial Corp (NYSE:GTES)

Gates Industrial Corp GTES reported its Q2 earnings results on Friday, August 5, 2022 at 08:00 AM.

Here's what investors need to know about the announcement.

Gates Industrial Corp beat estimated earnings by 23.08%, reporting an EPS of $0.32 versus an estimate of $0.26.

Revenue was down $8.30 million from the same period last year.

Last quarter the company beat on EPS by $0.04 which was followed by a 2.41% drop in the share price the next day.

Here's a look at Gates Industrial Corp's past performance:

Quarter	Q1 2022	Q4 2021	Q3 2021	Q2 2021
EPS Estimate	0.22	0.21	0.31	0.37
EPS Actual	0.26	0.31	0.31	0.42
Revenue Estimate	871.17M	821.59M	854.21M	904.95M
Revenue Actual	893.40M	815.60M	862.40M	915.10M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Gates Industrial Corp management provided guidance for FY 2022, expecting earnings between $1.15 and $1.25 per share.

To track all earnings releases for Gates Industrial Corp visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.