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Sep 30, 2022
CommScope Q3 2022 Earnings Report
Reported third quarter results with Core net sales and Core adjusted EBITDA reaching the highest performance on record since completing the ARRIS acquisition.
Key Takeaways
CommScope reported a 13.1% year-over-year increase in net sales to $2.38 billion for the third quarter of 2022. GAAP net income improved to $22.9 million, or $0.04 per share, compared to a net loss of $(124.2) million in the prior year period. Non-GAAP adjusted EBITDA increased 34.2% to $347.6 million.
Net sales of $2.381 billion.
Core net sales of $1.990 billion.
GAAP net income of $22.9 million.
Non-GAAP adjusted EBITDA of $347.6 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
CommScope maintains its expectation to deliver Core adjusted EBITDA for the full year 2022 within the previously provided range of $1.15–$1.25 billion and maintains the expectation to deliver Core adjusted EBITDA within the range of $1.35–$1.5 billion for the full year 2023.
Positive Outlook
- CommScope NEXT transformation continues its strong progression in driving organic growth and efficiency opportunities throughout the Core company.
- Teams have executed well in ramping capacity.
- General manager model is enabling greater visibility and flexibility in how CommScope manages the business.
- Believes CommScope is well-positioned to deliver on targets.
- Believes CommScope can create significant incremental shareholder value.
Challenges Ahead
- Supply chain challenges remain.
- There is broader macroeconomic uncertainty.
- Seeing some limited signs of broader macro-related uncertainty.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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