Gates Industrial (GTES) Stock

We decided to invest more in Gates Industrial Corporation because of its increasing profits, better margins, and a positive technical trend, which led to a return of over 34%. However, even with a good sales mix and cost-saving measures, there are worries about whether the margin growth can continue in a tough sales climate. Additionally, the company's large stock buybacks make us question the future of its earnings growth and how well it uses its capital.

Gates Industrial (GTES) has received a Zacks Rank #2 (Buy), indicating increased confidence in the company's potential earnings. This could lead to a rise in the stock price soon.

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) lacks the right mix of two important factors that could lead to a strong earnings report in the near future. Be ready for the main expectations.

Gates has launched a new Data Master Cooling Hose to meet the increasing needs of high-performance data centers.