CommScope (COMM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, CommScope (COMM) reported revenue of $1.92 billion, down 16.6% over the same period last year. EPS came in at $0.19, compared to $0.41 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.04 billion, representing a surprise of -6.07%. The company delivered an EPS surprise of -51.28%, with the consensus EPS estimate being $0.39.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CommScope performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- CCS (Connectivity and Cable Solutions): $698.90 million compared to the $887.16 million average estimate based on five analysts. The reported number represents a change of -29.2% year over year.
Net sales- OWN (Outdoor Wireless Networks): $228.80 million compared to the $276.49 million average estimate based on five analysts. The reported number represents a change of -41.5% year over year.
Core net sales: $1.59 billion versus $1.78 billion estimated by five analysts on average.
Net sales- NICS (Networking, Intelligent Cellular and Security Solutions): $327.60 million versus the five-analyst average estimate of $298.64 million. The reported number represents a year-over-year change of +59.5%.
Net sales- ANS (Access Network Solutions): $333.50 million compared to the $319.71 million average estimate based on five analysts. The reported number represents a change of +13.7% year over year.
Net sales- Home Networks: $329.60 million versus $335.68 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -22.3% change.
Adjusted EBITDA- NICS (Networking, Intelligent Cellular and Security Solutions): $74.90 million compared to the $57.07 million average estimate based on three analysts.
Adjusted EBITDA- Home Networks: -$3 million versus -$4.63 million estimated by three analysts on average.
Adjusted EBITDA- ANS (Access Network Solutions): $66.30 million versus the three-analyst average estimate of $45.21 million.
Core adjusted EBITDA: $262.50 million compared to the $327.18 million average estimate based on three analysts.
Adjusted EBITDA- CCS (Connectivity and Cable Solutions): $79.60 million compared to the $166.02 million average estimate based on three analysts.
Adjusted EBITDA- OWN (Outdoor Wireless Networks): $41.70 million versus $58.88 million estimated by three analysts on average.
View all Key Company Metrics for CommScope here>>>
Shares of CommScope have returned -25.8% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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CommScope Holding Company, Inc. (COMM) : Free Stock Analysis Report
