Loading...
•
Mar 31, 2020
CommScope Q1 2020 Earnings Report
CommScope's first quarter results for 2020 were reported, showing a significant increase in net sales due to the ARRIS acquisition, but also a net loss.
Key Takeaways
CommScope reported a net sales increase of 84.9% year over year to $2.03 billion, primarily due to the ARRIS acquisition. However, the company experienced a net loss of $159.9 million, or $0.89 per basic share. Non-GAAP adjusted EBITDA increased 10.9% to $231.2 million.
Net sales increased by 84.9% year-over-year to $2.03 billion.
GAAP net loss was $(159.9) million, or $(0.89) per basic share.
Non-GAAP adjusted EBITDA increased by 10.9% to $231.2 million.
The company redeemed $100 million aggregate principal amount of 5% senior notes due 2021.
Forward Guidance
Due to the evolving and significant uncertainties related to the impact of the COVID-19 pandemic, CommScope is withdrawing its full-year 2020 outlook. While the Company is not providing specific guidance for the second quarter, the Company expects its second quarter sales and non-GAAP adjusted EBITDA to improve modestly compared to the first quarter.
Positive Outlook
- Second quarter sales are expected to improve modestly compared to the first quarter.
- Second quarter non-GAAP adjusted EBITDA is expected to improve modestly compared to the first quarter.
- Business has proven to be remarkably resilient.
- Extremely strong order rates across certain critical segments.
- Taking decisive actions to strengthen financial position and prudently manage balance sheet.
Challenges Ahead
- Withdrawing full-year 2020 outlook.
- Significant uncertainties related to the impact of the COVID-19 pandemic.
- Aware of the strains on the global economy.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...