Gates Industrial Corp (NYSE:GTES) reported its Q2 earnings results on Friday, August 5, 2022 at 08:00 AM.

Here's what investors need to know about the announcement.

Earnings

Gates Industrial Corp beat estimated earnings by 23.08%, reporting an EPS of $0.32 versus an estimate of $0.26.

Revenue was down $8.30 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.04 which was followed by a 2.41% drop in the share price the next day.

Here's a look at Gates Industrial Corp's past performance:

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Gates Industrial Corp management provided guidance for FY 2022, expecting earnings between $1.15 and $1.25 per share.

To track all earnings releases for Gates Industrial Corp visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.