CommScope's Q3 Earnings Lag Estimates on Lower Revenues

Zacks11-08

CommScope Holding Company, Inc. COMM reported soft third-quarter 2024 results, wherein both the adjusted earnings and revenues fell short of the respective Zacks Consensus Estimate.Stay up-to-date ...

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COMM reported soft third-quarter 2024 results, wherein both the adjusted earnings and revenues fell short of the respective Zacks Consensus Estimate.Stay up-to-date ...</p>\n\n<a href=\"https://finance.yahoo.com/news/commscopes-q3-earnings-lag-estimates-151800691.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CommScope's Q3 Earnings Lag Estimates on Lower Revenues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCommScope's Q3 Earnings Lag Estimates on Lower Revenues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 23:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/commscopes-q3-earnings-lag-estimates-151800691.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CommScope Holding Company, Inc. COMM reported soft third-quarter 2024 results, wherein both the adjusted earnings and revenues fell short of the respective Zacks Consensus Estimate.Stay up-to-date ...</p>\n\n<a href=\"https://finance.yahoo.com/news/commscopes-q3-earnings-lag-estimates-151800691.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"COMM","symbol_name":"CommScope Holding Company Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/commscopes-q3-earnings-lag-estimates-151800691.html","article_id":"2482348089","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/as5m4_sYhwbum22y4k2zVQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/d43cb7b76527c97c59494165d3dffeae"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482348089","pubTimestamp":1731079080,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"CommScope Holding Company, Inc. COMM reported soft third-quarter 2024 results, wherein both the adjusted earnings and revenues fell short of the respective Zacks Consensus Estimate.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company reported a top-line expansion year over year, backed by improved sales in the Connectivity and Cable Solutions  segment. However, lower capital spending from customers, inventory adjustments, macroeconomic challenges and weak demand in several verticals weighed on the bottom line.CommScope Holding Company, Inc. Price, Consensus and EPS Surprise. CommScope Holding Company, Inc. price-consensus-eps-surprise-chart | CommScope Holding Company, Inc. Quote. Gross profit increased to $435.1 million from $380.2 million in the prior-year quarter. Total operating expenses declined to","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"COMM":"CommScope Holding Company Inc."},"translate_title":"康普第三季度盈利预期因收入下降而滞后","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COMM":1},"content_text":"CommScope Holding Company, Inc. COMM reported soft third-quarter 2024 results, wherein both the adjusted earnings and revenues fell short of the respective Zacks Consensus Estimate.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The company reported a top-line expansion year over year, backed by improved sales in the Connectivity and Cable Solutions (CCS) segment. However, lower capital spending from customers, inventory adjustments, macroeconomic challenges and weak demand in several verticals weighed on the bottom line.\nNet Income\nOn a GAAP basis, the net loss in the third quarter was $49.4 million or a loss of 23 cents per share compared with a net loss of $844.2 million or a loss of $ 3.98 per share in the year-ago quarter. Non-GAAP net loss in the third quarter was $13.2 million or a loss of 5 cents per share compared with a net loss of $30.3 million or a loss of 12 cents per share in the prior-year quarter. The bottom line lagged the Zacks Consensus Estimate by 38 cents.\n\nCommScope Holding Company, Inc. Price, Consensus and EPS Surprise\n  \nCommScope Holding Company, Inc. price-consensus-eps-surprise-chart | CommScope Holding Company, Inc. Quote\n\nRevenues\nNet sales in the reported quarter were $1.08 billion, up from $1.05 billion a year ago, driven by stronger sales in the CCS segment. However, the top line missed the consensus estimate of $1.43 billion.Revenues in the CCS segment were up 16.8% to $736.7 million from $630.5 million in the year-ago quarter, backed by the solid demand in the hyperscale and cloud business.Sales in the Networking, Intelligent Cellular and Security Solutions (NICS) segment excluding Distributed Antenna Systems (DAS)  decreased 22.3% year over year to $157.5 million, primarily on a decline in Ruckus and Intelligent Cellular Networks.Sales in the Access Network Solutions (ANS) segment were $188 million, down 14.7% year over year, due to a decline in Access Technologies and Broadband Network Solutions. Region-wise, revenues in the United States increased 3.1% year over year to $714.6 million. Europe, the Middle East and Africa reported revenues of $159.3 million, up 4% from the year-earlier quarter’s tally of $153.1 million. Asia Pacific revenues were $126.6 million, up 0.4% year over year. Caribbean and Latin American revenues fell 5% year over year to $47.5 million, while revenues from Canada were up 10.3% year over year to $34.2 million. In the September quarter, CommScope inked a definitive agreement with the American electronics company Amphenol Corporation for the divestiture of its OWN segment and the DAS business unit. The deal, subject to customary closing conditions and applicable regulatory approvals, is anticipated to close within the first half of 2025. Upon closing, Amphenol is likely to pay approximately $2.1 billion in cash to CommScope.\nOther Details\nGross profit increased to $435.1 million from $380.2 million in the prior-year quarter. Total operating expenses declined to $337.3 million from $788.6 million in the year-ago quarter. CommScope recorded an operating income of $102.2 million against an operating loss of $408.4 million a year ago. Non-GAAP adjusted EBITDA was $204.2 million, up 30.2% year over year, driven by the strength in the CCS segment.\nCash Flow & Liquidity\nIn the third quarter of 2024, CommScope generated $122.2 million in cash from operating activities compared with $138.8 million in the prior-year period. As of Sept. 30, 2024, the company had $392.1 million in cash and cash equivalents and $8 billion in long-term debt.\nOutlook\nFor 2024, management expects core adjusted EBITDA in the range of $645-$695 million. Core adjusted EBITDA (excluding the OWN segment and the DAS business unit) is forecasted to be between $700 and 750 million, with breakeven adjusted free cash flow. Weak demand trends due to near-term business uncertainties are likely to impact the company’s margins. However, CommScope’s cost optimization initiatives and investments in broadband and wireless infrastructure are likely to have a positive impact in the long run.\nCOMM’s Zacks Rank\nCommScope currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nUpcoming Releases\nLight and Wonder LNW is scheduled to release third-quarter 2024 earnings on Nov. 12. The Zacks Consensus Estimate for earnings is pegged at $1.11 per share, indicating growth of 37% from the year-ago figure.Keysight Technologies, Inc. KEYS is scheduled to release third-quarter earnings on Nov. 19. The Zacks Consensus Estimate for earnings is pegged at $1.57 per share, indicating a decline of 21.1% from the year-ago reported figure.Workday, Inc. WDAY is scheduled to release third-quarter fiscal 2025 earnings on Nov. 26. The Zacks Consensus Estimate for earnings is pegged at $1.72 per share, indicating growth of 12.4% from the year-ago reported figure.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nWorkday, Inc. (WDAY) : Free Stock Analysis Report\nCommScope Holding Company, Inc. (COMM) : Free Stock Analysis Report\nKeysight Technologies Inc. (KEYS) : Free Stock Analysis Report\nLight & Wonder, Inc. (LNW) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482348089"}