Gates(US:GTES) ZACKSยท2024-07-31 13:46Company Overview - Gates Industrial reported revenues of $885.5 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.84% and down from $936.3 million year-over-year [4] - The company posted quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.35 per share, which is unchanged from the previous year [10] Earnings Performance - The earnings surprise for the recent quarter was 2.86%, with the company previously expected to post earnings of $0.30 per share but actually delivering $0.31, resulting in a surprise of 3.33% [5] - Over the last four quarters, Gates Industrial has consistently surpassed consensus EPS estimates [11] Industry Context - Gates Industrial is part of the Zacks Engineering - R and D Services industry, which is currently ranked in the top 31% of over 250 Zacks industries [3] - The current consensus EPS estimate for the upcoming quarter is $0.35 on revenues of $880 million, and for the current fiscal year, it is $1.35 on revenues of $3.52 billion [8] Stock Performance - Gates Industrial shares have increased approximately 32.1% since the beginning of the year, outperforming the S&P 500's gain of 14% [12] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating expectations of underperformance in the near future [1]