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Compared to Estimates, Gates Industrial (GTES) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2024, Gates Industrial (GTES - Free Report) reported revenue of $830.7 million, down 4.8% over the same period last year. EPS came in at $0.33, compared to $0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $821.46 million, representing a surprise of +1.13%. The company delivered an EPS surprise of +6.45%, with the consensus EPS estimate being $0.31.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Gates Industrial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Fluid Power: $317.30 million versus $316.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -5.7% change.
Net Sales- Power Transmission: $513.40 million versus $505.28 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.3% change.
Adjusted EBITDA- Fluid Power: $69.50 million compared to the $67.22 million average estimate based on two analysts.
Adjusted EBITDA- Power Transmission: $113 million versus $105.81 million estimated by two analysts on average.
Shares of Gates Industrial have returned +4.9% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Gates Industrial (GTES) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, Gates Industrial (GTES - Free Report) reported revenue of $830.7 million, down 4.8% over the same period last year. EPS came in at $0.33, compared to $0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $821.46 million, representing a surprise of +1.13%. The company delivered an EPS surprise of +6.45%, with the consensus EPS estimate being $0.31.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Gates Industrial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Fluid Power: $317.30 million versus $316.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -5.7% change.
- Net Sales- Power Transmission: $513.40 million versus $505.28 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -4.3% change.
- Adjusted EBITDA- Fluid Power: $69.50 million compared to the $67.22 million average estimate based on two analysts.
- Adjusted EBITDA- Power Transmission: $113 million versus $105.81 million estimated by two analysts on average.
View all Key Company Metrics for Gates Industrial here>>>Shares of Gates Industrial have returned +4.9% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.