Adtran Holdings, Inc. (NASDAQ: ADTN) released preliminary second-quarter 2026 financial results, reporting revenue in the range of $280.0 million to $282.0 million, below its previously issued guidance of $283.0 million to $303.0 million and below analyst estimates of $293.4 million.

The company attributed the shortfall to a project delay from a single customer and elevated component and freight costs. Preliminary GAAP operating margin for the quarter is expected to be between -3.2% and -4.0%. Preliminary non-GAAP operating margin is expected to be between 3.5% and 4.0%, below the company's prior guidance range of 5.0% to 9.0%.

Preliminary GAAP basic and diluted loss per share attributable to Adtran Holdings is expected to be between $(0.12) and $(0.14). Preliminary non-GAAP basic and diluted earnings per share are expected to be between $0.03 and $0.05.

For the third quarter of 2026, Adtran Holdings said it expects revenue of $275.0 million to $295.0 million, with non-GAAP operating margin in the range of 1.5% to 5.5%.

Tom Stanton, Chairman and Chief Executive Officer, said, "Our preliminary second quarter results were directly impacted by a project delay from a single customer. In addition, margins reflected the current elevated component and freight cost environment."

The company said it will release final second-quarter results after the market close on August 3, 2026, with an earnings call scheduled for August 4, 2026. The preliminary figures are unaudited and subject to completion of the company's quarter-end financial close procedures.