Gates Industrial (GTES) Stock

Is GTES' record high a chance to take advantage of or a moment to hold back? Find out the important factors influencing GTES stock's movement, even with possible challenges ahead.

DENVER, Nov. 4, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES), a worldwide producer of advanced power transmission and fluid power solutions, has announced that its management will take part in discussions at upcoming investor conferences. One of these events is the Baird Global Industrial Conference, scheduled for Wednesday, November 13, 2024, at 4:05 p.m. Central time.

While the revenue and earnings per share (EPS) for Gates Industrial (GTES) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.

DENVER, Oct. 30, 2024 /PRNewswire/ -- Financial Summary for the Third Quarter of 2024: Net sales for the third quarter reached $830.7 million, which is a decrease of 4.8% from the same period last year, showing a core sales drop of 3.8% year-over-year. The net income for shareholders was $47.6 million, equating to $0.18 per diluted share.

Gates Industrial Corporation plc (NYSE:GTES) will hold its Q3 2024 Earnings Conference Call on October 30, 2024, at 11:00 AM ET. The call will feature company representatives including Rich Kwas, Ivo Jurek, and Brooks Mallard, along with participants from various financial institutions. The operator for the call is Briana, who will assist with the proceedings.

Gates Industrial (GTES) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Gates introduces a new Data Master Cooling Hose to address the rising demand from high-performance data centers.

Expanding its cutting-edge portfolio of data center cooling solutions, the Data Master™ Cooling Hose provides flexibility, performance, and cleanliness designed for high-performance computing environments DENVER , Sept. 10, 2024 /PRNewswire/ -- Gates  (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, is continuing to drive innovation for the data center cooling market with the upcoming launch of the Data Master™ Data Center Cooling Hose.

Gates Industrial Corporation stock remains a 'Buy' due to improving profitability trends, despite a recent 8% decline in stock performance over the past 5+ months. Technical analysis shows a bullish ascending triangle pattern with increased buying volume and MACD bullish divergence, suggesting potential for higher highs soon. Q2 results highlighted a 270 bps gross margin improvement and a 6% rise in adjusted EPS, indicating strong profitability despite a 4% revenue drop.