Gates Industrial (GTES) Q4 Earnings and Revenues Surpass Estimates

Company Performance - Gates Industrial (GTES) reported quarterly earnings of $0.36 per share, exceeding the Zacks Consensus Estimate of$ 0.34 per share, but down from $0.39 per share a year ago [1] - The earnings surprise for this quarter was 5.88%, following a previous quarter where the company also surpassed expectations with a surprise of 6.45% [2] - The company posted revenues of$ 829.4 million for the quarter, surpassing the Zacks Consensus Estimate by 1.36%, but down from $863.3 million in the same quarter last year [3] Market Performance - Gates Industrial shares have increased by approximately 1% since the beginning of the year, while the S&P 500 has gained 3.1% [4] - The current consensus EPS estimate for the upcoming quarter is$ 0.36 on revenues of $856.19 million, and for the current fiscal year, it is$ 1.48 on revenues of $3.53 billion [8] Industry Outlook - The Manufacturing - General Industrial industry, to which Gates Industrial belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, indicating potential challenges ahead [9] - The performance of Gates Industrial's stock may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [9]