CommScope (NASDAQ: COMM) reported Q3 EPS of $0.51, $0.14 better than the analyst estimate of $0.37. Revenue for the quarter came in at $2.17 billion versus the consensus estimate of $2.13 billion.

Third Quarter Highlights

• Net sales of $2.168 billion; 3% improvement from Q2
• GAAP net loss of $116.3 million
• Non-GAAP adjusted EBITDA of $341.9 million; 22% improvement from Q2
• Cash flow from operations of $172.2 million and non-GAAP adjusted free cash flow of $176.0 million
• Resumed debt repayment with $100 million redemption of 6.00% senior notes due 2025 (“the 2025 Notes”) and an additional $100 million redemption of the 2025 Notes during October 2020

“Since joining CommScope in October, I have been impressed by the team’s relentless focus on executing against our strategic objectives and delivering for our customers around the world,” said Chuck Treadway, president and chief executive officer. “Communication networks are essential to our economies, education system and for keeping us connected on a personal level. I couldn’t be happier to be a part of a company providing such critical network connectivity.

“As we look ahead, the Board and management team are focused on growing our business and creating long-term, profitable growth through a combination of investment opportunities and cost-cutting measures. While there remains much to do, we are confident in our ability to deliver enhanced profitability and unlock even greater value for CommScope and our shareholders. I am excited for CommScope to continue to play a critical role in advancing the 5G and 10G revolutions and shaping our global networks, today and in the future.”

Alex Pease, executive vice president and chief financial officer, said, “While we continue to expect that the current macroeconomic uncertainty will persist in the near-term, we are focused on balancing actions to improve our financial performance and flexibility. We will continue to aggressively manage expenses and reduce costs where possible. At the same time, we will make strategic investments, such as adding fiber cabling and connectivity capacity, that position the company to unlock growth opportunities for the business.”

For earnings history and earnings-related data on CommScope (COMM) click here.