These Analysts Revise Their Forecasts On Gates Industrial After Q3 Results

Gates Industrial Corp (NYSE:GTES) reported mixed results for the third quarter on Friday.

The company posted quarterly earnings of 47 cents per share which beat the analyst consensus estimate of 44 cents per share. The company reported quarterly sales of $903.600 million which missed the analyst consensus estimate of $904.935 million.

Gates Industrial raised its FY2026 adjusted EPS guidance from $1.62-$1.70 to $1.66-$1.72 and narrowed sales forecast from $3.519 billion-$3.587 billion to $3.543 billion-$3.563 billion.

Ivo Jurek, Gates Industrial’s Chief Executive Officer, said, “Our team executed well during the third quarter, resulting in mid-single digit sales growth and a significant gross profit margin increase compared to the prior year period. Sales in our Industrial OEM channel increased high-teens and year-over-year growth in our Industrial Aftermarket channel accelerated relative to last quarter.”

Gates Industrial shares closed at $23.83 on Friday.

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 $39 to $40.
• Wells Fargo analyst Jerry Revich maintained the stock with an Equal-Weight rating and lowered the price target from $30 to $28.

Considering buying GTES stock? Here’s what analysts think:

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