Gates Industrial Corp: Q3 Earnings Insights

Gates Industrial Corp: Q3 Earnings Insights

Gates Industrial Corp GTES reported its Q3 earnings results on Friday, November 4, 2022 at 08:00 AM.

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

Earnings

Gates Industrial Corp reported in-line EPS of $0.31 versus an estimate of $0.31.

Revenue was down $1.70 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.06 which was followed by a 3.07% drop in the share price the next day.

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

 

Quarter Q2 2022 Q1 2022 Q4 2021 Q3 2021
EPS Estimate 0.26 0.22 0.21 0.31
EPS Actual 0.32 0.26 0.31 0.31
Revenue Estimate 912.06M 871.17M 821.59M 854.21M
Revenue Actual 906.80M 893.40M 815.60M 862.40M

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).

Guidance

Gates Industrial Corp management provided guidance for FY 2022, expecting earnings between $1.07 and $1.15 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.

Posted In: BZI-RecapsEarnings