Gates Industrial Shares Slide as Third-Quarter Revenue Misses Estimates
Gates Industrial shares fell 10% after third-quarter revenue came in below analyst forecasts, even as adjusted earnings beat expectations and full-year guidance was raised.
- published on Newsmetry
- original source published
the same feed is available to bots and dashboards through the api. connect the api →
what happened
According to Dow Jones Newswires, Gates Industrial shares dropped 10% to $23.52 on Friday, though they remain up 9% so far this year. The maker of specialized industrial belts, hydraulics and fluid transfer systems reported third-quarter revenue of $903.6 million, up from $855.7 million a year earlier but slightly below the $904.8 million Wall Street had expected.
Net profit reached $86.5 million, or 34 cents a share, versus $81.6 million, or 32 cents, a year before. Adjusted earnings per share came in at 47 cents, above the 44 cents FactSet analysts had projected. The company lifted its full-year adjusted EPS guidance to $1.66 to $1.72 from $1.62 to $1.70, and narrowed its core sales growth outlook to 3.2% to 3.8% from 2.5% to 4.5%.
why it matters
The revenue shortfall dominated the reaction, while the earnings beat and higher profit outlook pointed the other way. Narrowing the sales growth range reduces uncertainty, but the top of the range was trimmed, so the picture remains mixed for investors.
market impact
Gates Industrial shares: revenue miss outweighed higher profit and a raised full-year outlook
- Gates Industrial shares mixed — revenue below consensus, but profit and guidance above expectations
tags
instruments
sources
- Gates Industrial Shares Fall on Lower-than-Expected 3Q Revenue — Dow Jones Newswires, 30 October 2026 at 19:45 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
alerts on your topics, the morning digest and the api — in your account.
get stories in real time ↗