Gates Industrial Q3 sales fall 4.8% to $830.7 million; raises adjusted EPS outlook
Gates Industrial reported third-quarter 2024 results for the period ended September 28, 2024. Net sales fell 4.8% to $830.7 million and net income attributable to shareholders dropped to $47.6 million, or $0.18 per diluted share, from $78.7 million, or $0.29, a year earlier. The company raised its full-year 2024 adjusted EPS guidance to $1.33 to $1.37 from $1.29 to $1.35, while lower sales and profit weighed on the quarter.
Key points
- Net sales were $830.7 million, down 4.8% from $872.9 million a year earlier; core sales declined 3.8%.
- Net income attributable to shareholders was $47.6 million, or $0.18 per diluted share, versus $78.7 million, or $0.29, in the prior-year quarter.
- Adjusted EPS was $0.33 for the quarter, compared with $0.36 a year earlier.
- Full-year 2024 adjusted EPS guidance was raised to $1.33 to $1.37 from $1.29 to $1.35; adjusted EBITDA guidance of $745 million to $765 million was unchanged at the midpoint.
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 30, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.