Clearfield First Quarter 2024 Earnings: Beats Expectations
Clearfield (NASDAQ:CLFD) First Quarter 2024 Results
Key Financial Results
Revenue: US$34.2m (down 60% from 1Q 2023).
Net loss: US$5.27m (down by 137% from US$14.3m profit in 1Q 2023).
US$0.35 loss per share (down from US$1.01 profit in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Clearfield Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 16%.
Looking ahead, revenue is expected to decline by 7.2% p.a. on average during the next 2 years, while revenues in the Communications industry in the US are expected to grow by 3.9%.
Performance of the American Communications industry.
The company's shares are up 15% from a week ago.
Risk Analysis
We should say that we've discovered 2 warning signs for Clearfield (1 shouldn't be ignored!) that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
