Gates Industrial (GTES) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Gates Industrial (GTES) reported $936.3 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 3.3%. EPS of $0.36 for the same period compares to $0.32 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $935.63 million, representing a surprise of +0.07%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.32.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
Revenue - Fluid Power: $362.40 million compared to the $376.13 million average estimate based on two analysts. The reported number represents a change of -0.4% year over year.
Revenue - Power Transmission: $573.90 million versus $561.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.7% change.
Adjusted EBITDA - Fluid Power: $78.30 million compared to the $82.08 million average estimate based on two analysts.
Adjusted EBITDA - Power Transmission: $119 million compared to the $111.38 million average estimate based on two analysts.
View all Key Company Metrics for Gates Industrial here>>>
Shares of Gates Industrial have returned +3% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Gates Industrial Corporation PLC (GTES) : Free Stock Analysis Report
