We doubled down on our bullish stance in Gates Industrial Corporation plc (NYSE: GTES ) in September of this year due to the company's growing profitability, improving margins, and a bullish intermediate technical pattern. Shares have returned 34%+ since our most recentIndividual investor with a keen interest in deriving income from investment setups. We do this by buying undervalued profitable stocks with strong balance sheets & minimal debt. Furthermore, when the opportunity arises, we like to write calls ...

Gates Industrial (GTES) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings p ...

Gates Industrial Corporation plc (GTES) has recently captured the attention of investors. The stock touched a new 52-week high of $22.43 yesterday and pulled back to end the trading session at $22.12.This global manufacturer of innovative, highly engineered power transmission and fluid power solutions gained 79.5% in the past year, strongly outperforming the Zacks Manufacturing - General Industrial industry’s 34.3% rally. Impressively, the company has outpaced some industry bigwigs like Illinois Tool Works ...

DENVER, Nov. 4, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that management will participate in fireside chats at the following upcoming investor conferences: The Baird Global Industrial Conference on Wednesday, November 13, 2024 at 4:05 p.m. Central time. Ivo Jurek, CEO will present. The Goldman Sachs Industrials & Materials Conference on Wednesday, December 4, 2024 a ...

For the quarter ended September 2024, Gates Industrial (GTES) 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 - ...

Gates Industrial (GTES) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.45%. A quarter ago, it was expected that this manufacturer of power transmission and fluid power systems would post earnings of $0.35 per share when it actually produced earnings of $0.36, delivering a surprise ...

Core Viewpoint - Gates Industrial Corporation reported a decline in net sales and net income for the third quarter of 2024, but improved gross margins and adjusted EBITDA margins, leading to an increase in full-year adjusted EPS guidance [2][4][19]. Financial Performance Summary - Third-quarter net sales were $830.7 million, down 4.8% from $872.9 million in the prior year, with a core sales decline of 3.8% [5][6]. - Net income attributable to shareholders was $47.6 million, or $0.18 per diluted share, compared to $78.7 million, or $0.29 per diluted share, in the prior-year quarter [6][26]. - Adjusted net income was $86.9 million, or $0.33 per diluted share, down from $95.9 million, or $0.36 per diluted share, in the prior-year period [6][32]. - Adjusted EBITDA for the third quarter was $182.5 million, with a margin of 22.0%, reflecting a 30 basis point improvement year-over-year [8][14]. Segment Performance - Power Transmission segment net sales decreased 4.3% to $513.4 million, with a core sales decline of 3.3% [13][14]. - Fluid Power segment net sales fell 5.7% to $317.3 million, with a core sales decline of 4.7% [15][16]. Liquidity and Capital Resources - The company generated $115.9 million in cash from operations during the third quarter, with capital expenditures increasing to $28.0 million from $17.4 million in the prior-year quarter [17]. - As of September 28, 2024, total cash and cash equivalents were $574.4 million, with total outstanding debt of $2.4 billion [18]. Updated Guidance - The company updated its full-year 2024 guidance, projecting core sales growth of approximately 4% to 3%, and adjusted EPS guidance increased to $1.33 to $1.37 [19][20].

Wall Street expects a year-over-year decline in earnings on lower revenues when Gates Industrial (GTES) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Octobe ...

DENVER, Oct. 8, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) will issue its thirdquarter earnings release before the market opens on Wednesday, October 30, 2024. Management will host a webcast and conference call on the same day at 11:00 a.m. Eastern time to discuss Gates Industrial's financial results. The conference call can be accessed as follows: By dialing (888) 414-4601 (domestic) or +1 (646) 960-0313 (international) and requesting the Gates Industrial Corporation Third-Quarter 2 ...

Gates Industrial Corporation plc (GTES) is expanding its data center cooling solutions with the launch of the new Data Master Cooling Hose. This innovative product enhances performance and cleanliness in highperformance computing environments. Developed through Gates' Eco-Innovation process, this new fluid conveyance solution marks a deeper move into the fast-growing data center liquid cooling sector, driven by the increasing demands of compute-intensive technologies like Artificial Intelligence. This innov ...