CommScope (COMM) Tops Q4 EPS by 12c; Guides Q1 Lower Due to Coronavirus
Get Alerts COMM Hot Sheet
Join SI Premium – FREE
CommScope (NASDAQ: COMM) reported Q4 EPS of $0.46, $0.12 better than the analyst estimate of $0.34. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.28 billion.
“We are pleased to finish 2019 on a high note, as we delivered net sales at the midpoint of our guidance, adjusted EBTIDA at the high-end of our targeted range, and adjusted EPS well above our targeted range,” said President and Chief Executive Officer Eddie Edwards.
Edwards continued, “Despite industry headwinds, our team remained focused on managing the elements we could control. Our strong operational discipline allowed us to generate significant cash flow, resulting in $300 million of early debt paydown in the fourth quarter and an additional $100 million paydown earlier this week. We are executing on our strategy and surpassing our cash flow and debt paydown expectations. As a result of our success, there is only $50 million principal remaining on our 2021 notes with the next nearest maturity not until 2024.
“Looking forward, 2020 will be a year of continued and active cost structure management while strategically investing in our business to position CommScope for accelerated growth. We remain confident in the long-term potential of our business and our ability to deliver significant shareholder value.”
GUIDANCE:
CommScope sees Q1 2020 EPS of $0.03-$0.18, versus the consensus of $0.30. CommScope sees Q1 2020 revenue of $1.9-2.1 billion, versus the consensus of $2.14 billion.
“Due to the uncertainty regarding the impact of the Coronavirus, we are providing a wider than normal guidance range for the first quarter,” said Alex Pease, Executive Vice President and Chief Financial Officer. “Given that a portion of our raw materials and products are sourced directly from mainland China, and a significant amount of our international shipments are manufactured in China, we are factoring in approximately $60 million of negative impact from the Coronavirus in our first quarter adjusted EBITDA guidance. We are closely monitoring the situation as it unfolds and expect to recover the majority of this impact as the year progresses.”
For earnings history and earnings-related data on CommScope (COMM) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) revenue falls short of expectations, raises full-year earnings guidance
- Lakeland Bancorp (LBAI) Tops Q1 EPS by 1c
- PPG Industries (PPG) Reports In-Line Q1 EPS, offers outlook
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!