Gates Industrial Shares Rise After Adjusted EPS Tops Wall Street Views

Dow Jones

Feb 07

By Josh Beckerman

Shares of Gates Industrial climbed after the company reported adjusted earnings per share that were above Wall Street's average estimate.

The stock was up 10%, to $22.83, on Thursday and is up about 11% this year.

Gates Industrial, which provides power-transmission and fluid-power products, said fourth-quarter adjusted earnings per share were 36 cents, down from 37 cents a year earlier. Analysts polled by FactSet expected 33 cents.

Net sales were down 3.9%, to $829.4 million. Analysts polled by FactSet expected $827.5 million. The company said soft demand in Agriculture and Construction was partially mitigated by growth in Automotive.

Gates expects 2025 adjusted earnings per share of $1.36 to $1.52.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

February 06, 2025 15:15 ET (20:15 GMT)

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Analysts polled by FactSet expected 33 cents. \n\n\n  Net sales were down 3.9%, to $829.4 million. Analysts polled by FactSet expected $827.5 million. The company said soft demand in Agriculture and Construction was partially mitigated by growth in Automotive. \n\n\n  Gates expects 2025 adjusted earnings per share of $1.36 to $1.52. \n\n\n \n\n\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 06, 2025 15:15 ET (20:15 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}