CommScope (COMM)

We reduce our 2024E EBITDA for CommScope (COMM; $1.27; E/W) from $1.08B to $650mm as management warned on further weakness across its business to start the new year after posting “core” Q4 EBITDA (ex-Home Networks)…

CommScope’s (COMM; $1.59; E/W) Q3 results and outlook “filled in the blanks” to its recent, badly timed negative pre-announcement, which was not overly surprising after prior news flow (“Another Major Disappointment”; 10/30). Specifically, COMM’s “core”…

CommScope (COMM; $1.57; E/W) reported Q3 non-GAAP EPS of $0.13, which was lower than our $0.17 and the Street’s $0.19. Sales of $1,600mm were as expected, as per its negative pre-announcement late last month (“Another…

This morning, CommScope (COMM; $1.41; E/W) negatively pre-announced Q3 results and warned on its Q4E outlook. Specifically, COMM now expects Q3E sales of $1.60B (-17% QoQ and -33% YoY) and $249mm (15.6% of sales), which…

This morning, Vantiva (VANTI.FR; €0.18; NR) announced it reached an agreement with CommScope (COMM; $3.45; E/W) to purchase its Home Networks business in exchange for: (1) a 25% stake in Vantiva on a fully dilutive…

We are reducing our rating on the shares of CommScope (COMM; $3.26) from Outperform to Equal-Weight after a much bigger Q2 “miss and lower” than we expected with our recent estimate cuts (“Reducing Estimates Ahead…

CommScope (COMM; $4.42; O/P) reported Q2 non-GAAP EPS of $0.19, which badly missed our consensus matching $0.37. Sales were $1,918mm, below our $2,013mm and the Street’s $2,029mm, which led to disappointing operating profits and margins…

We reduce our 2023/2024E “core” EBITDA (ex-Home Networks) for CommScope (COMM; $5.02; O/P) from $1.45B/$1.6B to $1.38B/$1.55B ahead of its Q2 results and outlook on August 3rd (before market). Our lower core EBITDA forecasts, which…

We think CommScope (COMM; $4.82; O/P) continues to execute extremely well to its “core” 2023E EBITDA targets of $1.35-1.50B (+8-20% YoY ex-Home Networks) on the back of a strategic transformation plan (CommScope NEXT) that is…

CommScope (COMM; $4.77; O/P) reported Q1 non-GAAP EPS of $0.35, which beat the Street’s $0.32 and was well ahead of our more conservative $0.23. Sales were $2,002mm, which compared to the Street’s $2,148mm and our…

We see CommScope’s (COMM; $4.93; O/P) “core” 2023E EBITDA target of $1.35-1.50B (ex-Home Networks) “holding up” when it posts Q1 results on Thursday (5/4 before market). However, we are concerned consensus Q1E forecasts may not…

Yesterday (3/29), CommScope (COMM; $6.20; O/P) announced plans to further expand production of its fiber optic cables where we think industry demand likely exceeds supply for all of 2023E. We note this announcement comes on…

We stick with our Outperform on CommScope shares (COMM; $8.68) after the company reiterated 2023E “core” EBITDA targets of $1.35-1.50B (ex-Home Networks) and delivered Q4 EBITDA upside while demonstrating healthy free cash flows (FCF) we…

CommScope (COMM; $7.36; O/P) reported Q4 non-GAAP EPS of $0.49, which was ahead of our consensus matching $0.46. Sales were $2,318mm, which compared to our $2,340mm and the Street’s $2,339mm. As per the variance table…

We expect CommScope (COMM; $8.01; O/P) to post core Q4 results and 2023E outlook that at least lives up to Street expectations on Thursday (2/23 before market). We think this should be more than “enough”…