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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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