Gates Industrial Corporation PLC (NYSE:GTES) on Friday reported better-than-expected second-quarter financial results and raised its FY26 guidance.
Gates Industrial posted adjusted EPS of 44 cents, beating market estimates of 41 cents. The company’s sales came in at $941.600 million, versus estimates of $926.086 million.
Gates Industrial raised its FY2026 adjusted EPS guidance from $1.52-$1.68 to $1.62-$1.70, and also increased sales guidance from $3.467 billion-$3.570 billion to $3.519 billion-$3.587 billion.
Ivo Jurek, Gates Industrial’s Chief Executive Officer, commented, “We delivered a strong second quarter, exceeding expectations. We generated record sales and EPS and experienced improving order momentum globally. We believe we are in solid position to capitalize on strengthening industrial demand.”
Gates Industrial shares gained 2.4% to trade at $28.67 on Monday.
These analysts made changes to their price targets on Gates Industrial following earnings announcement.
- Baird analyst Michael Halloran maintained the stock with an Outperform rating and raised the price target from $37 to $39.
- Keybanc analyst Jeffrey D. Hammond maintained the stock with an Overweight rating and raised the price target from $31 to $34.
- Wells Fargo analyst Jerry Revich maintained the stock with an Equal-Weight rating and raised the price target from $26 to $30.
Considering buying GTES stock? Here’s what analysts think:
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