Recap: Gates Industrial Q1 Earnings

Shares of Gates Industrial Corp GTES rose 0.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 57.14% year over year to $0.33, which beat the estimate of $0.31.

Revenue of $881,300,000 higher by 24.11% from the same period last year, which beat the estimate of $863,640,000.

Outlook

The upcoming fiscal year's revenue expected to be between $3,336,000,000 and $3,421,000,000.

How To Listen To The Conference Call

Date: May 10, 2021

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestors.gates.com%2F&eventid=3081464&sessionid=1&key=A403BC4F98719B0C89D4B68733C97801&regTag=&V2=false&sourcepage=register

Technicals

Company's 52-week high was at $18.22

52-week low: $8.08

Price action over last quarter: Up 10.30%

Company Profile

Gates Industrial Corp PLC is a manufacturer of engineered power transmission and fluid power solutions. It offers a portfolio of products to diverse replacement channel customers, and to original equipment manufacturers. The company operates through Power Transmission and Fluid Power segments. The Power Transmission segment includes elastomer drive belts and related components used to efficiently transfer motion in a broad range of applications. The Fluid power segment includes hoses, tubing, and fittings designed to convey hydraulic fluid at high pressures in both mobile and stationary applications. The company markets its products under Gates brand and caters to various industries such as construction, agriculture, energy, automotive, transportation, consumer products and others.