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CLAREMONT, N.C. -On Wednesday, CommScope Holding Company, Inc. (NASDAQ:COMM) reported fourth quarter earnings that beat analyst expectations.
The company’s shares fell -3.27% as investors focused on the weak outlook.
The network connectivity solutions provider posted adjusted earnings per share of $0.18, surpassing the consensus estimate of $0.04. Revenue rose 26.6% year-over-year to $1.17 billion, also exceeding analyst projections of $1.11 billion.
"2024 marked a transitional year for CommScope. Despite a challenging start, and volatile market conditions, we stayed committed to what we could control to improve company performance and profitability with sequential Core quarterly adjusted EBITDA improvement throughout the year," said Chuck Treadway, President and CEO.
For the fourth quarter, Core CommScope reported net sales of $1.17 billion, up 27% from the prior year. Core adjusted EBITDA jumped 68.7% to $240.4 million, with the margin expanding to 20.6% from 15.4% a year ago.
The Connectivity and Cable Solutions segment led growth, with sales rising 36.3% to $754 million, driven by strength in the Enterprise business.
Looking ahead, CommScope provided 2025 guidance for Core adjusted EBITDA in the range of $1.00 billion to $1.05 billion.
The company noted it completed the previously announced sale of its Outdoor Wireless Networks segment and Distributed Antenna Systems business unit to Amphenol Corporation (NYSE:APH) on January 31, 2025.
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