These Analysts Lower Their Forecasts On Adtran Following Q3 Results

Benzinga Earnings11-04 21:47

ADTRAN Holdings, Inc. (NASDAQ:ADTN) reported worse-than-expected third-quarter sales results and issued fourth-quarter sales guidance below estimates.

Adtran reported quarterly earnings of 9 cents per share which beat the analyst consensus estimate of 4 cents per share. The company reported quarterly sales of $281.167 million which missed the analyst consensus estimate of $285.717 million.

Adtran Holdings said it sees fourth-quarter sales of $272.000 million-$292.000 million, versus market estimates of $292.858 million.

ADTRAN Chairman and Chief Executive Officer Tom Stanton said, “Third quarter revenue came in slightly below the midpoint of our guidance range as we continued to navigate a challenging supply environment. Despite these pressures, we saw encouraging developments across the business, including continued growth in optical networking and increasing growth with hyperscale customers. The rapid expansion of AI infrastructure is reshaping network investment priorities, creating opportunities for ADTRAN not only in cloud infrastructure but also across our traditional service provider markets.”

ADTRAN shares gained 0.4% to $5.08 in pre-market trading.

These analysts made changes to their price targets on ADTRAN following earnings announcement.

Rosenblatt analyst Mike Genovese downgraded the stock from Buy to Neutral and lowered the price target from $15 to $6.25.
Evercore ISI Group analyst Irvin Liu maintained the stock with an Outperform rating and cut the price target from $11 to $8.

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

Photo via Shutterstock

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(NASDAQ:ADTN) reported worse-than-expected third-quarter sales results and issued fourth-quarter sales guidance below estimates.</p>\n<p>Adtran reported quarterly earnings of 9 cents per share which beat the analyst consensus estimate of 4 cents per share. The company reported quarterly sales of $281.167 million which missed the analyst consensus estimate of $285.717 million.</p>\n<p>Adtran Holdings said it sees fourth-quarter sales of $272.000 million-$292.000 million, versus market estimates of $292.858 million.</p>\n<p>ADTRAN Chairman and Chief Executive Officer Tom Stanton said, “Third quarter revenue came in slightly below the midpoint of our guidance range as we continued to navigate a challenging supply environment. Despite these pressures, we saw encouraging developments across the business, including continued growth in optical networking and increasing growth with hyperscale customers. 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