Gates Industrial Corporation PLC reports results for the quarter ended June 30 - Earnings Summary

• Gates Industrial Corporation PLC GTES.N reported quarterly adjusted earnings of 39 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 36 cents. The mean expectation of ten analysts for the quarter was for earnings of 38 cents per share. Wall Street expected results to range from 37 cents to 39 cents per share.

• Revenue fell 0.2% to $883.70 million from a year ago; analysts expected $876.16 million.

• Gates Industrial Corporation PLC's reported EPS for the quarter was 22 cents​.

• The company reported quarterly net income of $56.5 million.

• Gates Industrial Corporation PLC shares had risen by 7.5% this quarter and gained 20.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.8% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the industrial machinery & equipment peer group is also "buy"

• Wall Street's median 12-month price target for Gates Industrial Corporation PLC is $26.50, about 6.6% above its last closing price of $24.76

This summary was machine generated from LSEG data July 30 at 01:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)