CommScope downgraded on likely revenue declines in 2024: JP Morgan [Seeking Alpha]
CommScope Holding Company, Inc. (COMM)
Last commscope holding company, inc. earnings: 2/20 06:30 am
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US:NASDAQ Investor Relations:
ir.commscope.com
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Source: Seeking Alpha
The stock was down 1% during premarket trading Monday. "The magnitude of the EBITDA decline in 2024 leads us to envision a scenario in which robust growth in 2025 can be a welcome relief for investors but still leave the company challenged in being able to return to 2023 full-year levels of EBITDA despite robust revenue growth expectations," said J.P. Morgan analyst Samik Chaterjee in a note. CommScope's guidance of $100M to $125M core EBITDA during the first quarter 2024 would be 50% lower than what J.P. Morgan had expected. "Our move to an Underweight rating is not representative of any concerns around liquidity, but more to express that current macro backdrop is driving CommScope to be the one of the most challenged relative to fundamentals within the coverage universe," Chatterjee added. “As we closed a challenging year, CommScope net sales declined 23% from the prior year to $5.79 billion and delivered adjusted EBITDA at the midpoint of our range at $1.02 billion down 18
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COMM
Earnings
- 2/29/24 - Miss
COMM
Sec Filings
- 4/22/24 - Form 3
- 4/15/24 - Form 8-K
- 4/15/24 - Form EFFECT
- COMM's page on the SEC website