CommScope Struggles With Reduced Demand, Misses Q3 Earnings, Cuts EBITDA Forecast
Portfolio Pulse from Nabaparna Bhattacharya
CommScope Holding Company, Inc. (NASDAQ:COMM) reported Q3 net sales of $1.6 billion, missing the street view of $1.98 billion, a 33% Y/Y decline. Adjusted diluted EPS was $0.13, missing the analyst consensus of 30 cents. The company also reported a non-GAAP adjusted EBITDA of $248.6 million, down 28.5% Y/Y. Due to macroeconomic factors and reduced demand, the company has cut its Core adjusted EBITDA forecast to a range of $1.00 to $1.05 billion.
November 09, 2023 | 3:34 pm
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NEGATIVE IMPACT
CommScope's Q3 earnings miss and reduced EBITDA forecast could negatively impact its stock price in the short term.
CommScope's Q3 earnings miss and the reduction in its EBITDA forecast indicate a weaker financial performance than expected. This could lead to a negative sentiment among investors, potentially driving the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100