COMMSCOPE HOLDING Reports FY2023 Q2 Earnings Results for June 30, 2023
August 7, 2023
🌥️Earnings Overview
COMMSCOPE HOLDING ($NASDAQ:COMM) reported their FY2023 Q2 earnings results for the period ended June 30 2023 on August 3 2023. Total revenue for the quarter was USD 1918.4 million, a decrease of 16.6% year-on-year.
Price History
The company’s stock opened at $3.8 and closed at $3.3, a plunge of 26.2% from the previous closing price of 4.4. This dramatic decrease in the stock price came after the company posted disappointing results compared to expectations. Despite the lower than expected results, COMMSCOPE HOLDING was able to increase their gross profit margin by 2%, as well as see a 6% increase in cash flow from operating activities. Additionally, the company announced their intention to focus on cost cutting measures to further improve their financial performance. Overall, COMMSCOPE HOLDING reported disappointing results for Q2 2023, causing their stock to fall dramatically.
However, the company is confident that cost cutting measures will help them improve their financial performance in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Commscope Holding. More…
| Total Revenues | Net Income | Net Margin |
| 8.62k | -1.24k | -0.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Commscope Holding. More…
| Operations | Investing | Financing |
| 389.8 | -16 | -184.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Commscope Holding. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.17k | 11.65k | -2.28 |
Key Ratios Snapshot
Some of the financial key ratios for Commscope Holding are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.7% | 147.8% | -6.6% |
| FCF Margin | ROE | ROA |
| 3.6% | 78.6% | -3.2% |
Analysis
GoodWhale has conducted an analysis of COMMSCOPE HOLDING‘s fundamentals. After considering its revenue and earnings growth, we have concluded that it falls under our classification of a ‘sloth’, a type of company that has achieved slower growth than the overall economy. Investors looking for value may be interested in such companies, as their stock prices will typically be discounted to reflect their slower growth. COMMSCOPE HOLDING is particularly strong in terms of its medium growth, profitability, but weak in terms of asset and dividend. Its intermediate health score of 6/10 takes into account its cashflows and debt, suggesting that it might be able to safely ride out any crisis without the risk of bankruptcy. More…
Peers
CommScope Holding Co Inc is a leading manufacturer of telecommunications equipment. The company’s main competitors are Edimax Technology Co Ltd, Zinwell Corp, and Accton Technology Corp. All of these companies compete fiercely in the market for telecommunications equipment.
– Edimax Technology Co Ltd ($TWSE:3047)
Edimax Technology Co Ltd is a Taiwanese electronics company that specializes in the manufacture of networking equipment. The company has a market capitalization of $3.09 billion as of 2022 and a return on equity of 4.99%. Edimax was founded in 1986 and is headquartered in Taipei, Taiwan. The company’s product lineup includes routers, switches, network adapters, and wireless networking devices. Edimax also offers a wide range of networking solutions for both home and business users.
– Zinwell Corp ($TWSE:2485)
Zinwell is a leading global provider of advanced communication and entertainment solutions. The company offers a wide range of products and services that enable consumers and businesses to connect and communicate with each other. Zinwell’s products and services include broadband Internet, voice, data, and video services. The company also provides a variety of entertainment and information services. Zinwell has a strong presence in the United States, Europe, Asia Pacific, and Latin America.
– Accton Technology Corp ($TWSE:2345)
Accton Technology Corporation is a Taiwanese networking company that designs and manufactures networking products. The company has a market cap of 135.83B as of 2022 and a return on equity of 28.7%. Accton Technology’s products include routers, switches, network interface cards, and wireless LAN products. The company’s products are used in a variety of industries, including telecommunications, enterprise, and government.
Summary
COMMSCOPE HOLDING‘s second quarter FY2023 earnings results, released on August 3 2023, showed a decrease in total revenue of 16.6% year-over-year to 1918.4 million USD. Net income was -100.4 million USD, compared to -61.0 million in the same quarter of the previous year. This news resulted in a drop in the stock price the same day.
Investors should monitor this company’s quarterly results closely as changes in net income can lead to volatile stock prices. Analysts should also consider the company’s long-term prospects and potential for growth and profitability when considering investing in COMMSCOPE HOLDING.
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