Telephone and Data Systems, Inc. (TDS) , sporting a Zacks Rank of 1, provides wireless products and services, cable and wireline broadband, TV and voice services to approximately 6 million customers in Chicago. Shares of CommScope have lost 65.1% over the past year compared with the industry's decline of 47.8%. CommScope's DAS business is part of its Networking, Intelligent Cellular & Security Solutions segment, which also makes and sells RUCKUS Wi-Fi, small cell and private wireless solutions to support se ...

For Immediate Release Chicago, IL – July 19, 2024 – Today, Zacks Equity Research discusses CommScope Holding Company, Inc. (COMM) and DZS Inc. (DZSI) Industry: Communication Infrastructure Link: https://www.zacks.com/commentary/2304111/2-communication-stocks-likely-to-transcend-industrygloom The Zacks Communication - Infrastructure industry appears to be weighed down by escalating capital expenditures for infrastructure upgrades, unpredictable raw material prices owing to Middle East tensions, supply-chain ...

The Zacks Communication - Infrastructure industry appears to be weighed down by escalating capital expenditures for infrastructure upgrades, unpredictable raw material prices owing to Middle East tensions, supply-chain disruptions albeit at a decreasing rate and high customer inventory levels. However, the industry should benefit in the long run from an increasing user propensity to stay abreast of the latest digital innovations. Industry Description What's Shaping the Future of the Communication - Infrastr ...

CommScope Holding Company, Inc. (COMM) recently introduced Software Release 13, which brings several cutting-edge advancements in its E6000 Converged Edge Routers (CER). The innovative features are aimed at equipping Multi Service Operators (MSOs) to support advanced network services with the latest technologies, such as hybrid fiber coax cable access networks. With operators moving toward converged or multi-use network structures, combining voice, video and data communications into a single network, CommSc ...

CommScope Holding Company, Inc. (COMM) reported soft first-quarter 2024 results, with a decrease in revenues and earnings on a year-over-year basis. Lower capital spending from customers, inventory adjustments, macroeconomic challenges and decrease in net sales in major business verticals led to top-line contraction year over year. However, both the bottom line and top line beat the respective Zacks Consensus Estimate.Net IncomeOn a GAAP basis, the company recorded a net loss of $375.2 million or a loss of ...

CommScope Holding Company, Inc. (NASDAQ:COMM) Q1 2024 Earnings Call Transcript May 9, 2024 8:30 AM ET Company Participants Massimo Disabato - VP of IR Chuck Treadway - President and CEO Kyle Lorentzen - EVP and CFO Conference Call Participants George Notter - Jefferies LLC Meta Marshall - Morgan Stanley Simon Leopold - Raymond James Steven Fox - Fox Advisors LLC Samik Chatterjee - JPMorgan Amit Daryanani - Evercore Matt Niknam - Deutsche Bank Tim Savageaux - Northland Capital Markets Operator Good day, and ...

2 © 2024 CommScope, LLC. All rights reserved. | CommScope, ARRIS and the ARRIS logo are trademarks of CommScope, Inc. and/or its affiliates. All other trademarks are the property of their respective owners. GAAP Cash Flow from Operations($M) Adj. Free Cash Flow(2) ($M) ($46) $137 $139 $60 ($178) 1Q'23 2Q'23 3Q'23 4Q'23 ($40) $149 $182 $92 ($154) 1Q'24 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 © 2024 CommScope, LLC. All rights reserved. | CommScope, ARRIS and the ARRIS logo are trademarks of CommScope, Inc. and/or its a ...

CommScope (COMM) reported $1.17 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 41.6%. EPS of -$0.08 for the same period compares to $0.35 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.04 billion, representing a surprise of +12.18%. The company delivered an EPS surprise of +65.22%, with the consensus EPS estimate being -$0.23.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

News Release First Quarter Highlights • Cash flow used in operations of $(177.7) million and non-GAAP adjusted free cash flow of $(154.1) million (1) See "Non-GAAP Financial Measures" below. "For the first quarter, CommScope net sales declined 30% from the prior year to $1.17 billion and delivered adjusted EBITDA of $153 million, which was higher than our previously provided guidance range but down 51% from the prior year. Adjusted EPS was a loss of $(0.08) per share. Based on current visibility, we expect ...

Financial Performance - For the three months ended March 31, 2024, net sales decreased by $496.0 million, or 29.8%, compared to the prior year period, primarily due to reduced purchasing by customers [181]. - Gross profit for the same period decreased by $228.0 million, primarily due to lower net sales volumes, partially offset by a favorable product mix and lower material costs [183]. - The non-GAAP adjusted EBITDA for the three months ended March 31, 2024, was $153.0 million, a decrease of $160.7 million or 51.2% compared to the prior year [180]. - The company reported a loss from continuing operations of $262.1 million for the three months ended March 31, 2024, compared to income of $29.8 million in the prior year, representing a decline of 979.5% [180]. - For the three months ended March 31, 2024, consolidated net sales were $1,168.4 million, a decrease of $496.0 million or 29.8% compared to $1,664.4 million in the prior year [191]. - Operating income for the consolidated entity was $2.9 million, a decline of 98.4% from $183.1 million in the prior year [191]. - Interest expense increased to $167.7 million for the three months ended March 31, 2024, compared to $165.1 million in the same period last year, reflecting a 1.6% increase [188]. - The company recognized an income tax expense of $99.8 million for the three months ended March 31, 2024, compared to a tax benefit of $4.0 million in the prior year, representing a significant change of 2,595.0% [188]. - The company recognized a pretax loss of $162.3 million and incurred an income tax expense of $99.8 million for the three months ended March 31, 2024 [216]. Segment Performance - The Networking, Intelligent Cellular and Security Solutions (NICS) segment reported a decrease in net sales of $104.2 million for the three months ended March 31, 2024 [181]. - The Connectivity and Cable Solutions (CCS) segment reported net sales of $604.7 million, down 26.4% from $821.1 million in the same period last year [191]. - The Networking Intelligent Cellular and Security Solutions Segment reported an operating loss of $65.7 million, compared to a loss of $25.7 million in the same period last year [240]. - CCS segment operating income and adjusted EBITDA decreased due to lower sales volumes, despite lower SG&A costs and favorable product mix [218]. - OWN segment net sales decreased by $63.2 million in the U.S. and $0.8 million in Canada, while increasing by $2.1 million in the APAC region for the three months ended March 31, 2024 [219]. - NICS segment net sales decreased by $67.5 million in the U.S. and $25.0 million in the EMEA region, primarily due to lower sales volumes of Ruckus products [220]. - ANS segment net sales decreased by $85.1 million in the U.S. and $21.2 million in the EMEA region, attributed to customers pausing spending [221]. Restructuring and Costs - The company recognized restructuring charges of $205.0 million to date related to CommScope NEXT actions, with expected cash payments of $9.1 million during the remainder of 2024 [166]. - The company incurred net restructuring costs of $30.6 million during the three months ended March 31, 2024, with an additional $9.1 million expected to be paid for ongoing restructuring actions [186]. - The company expects to continue incurring costs related to the CommScope NEXT initiatives throughout 2024, which may have material cash requirements [199]. - The company incurred $30.6 million in net restructuring costs and $8.5 million in transaction, transformation, and integration costs during the first quarter of 2024, primarily related to the CommScope NEXT initiatives [199]. Market and Sales Trends - The company expects to see a recovery in demand not until the second half of 2024 due to ongoing macroeconomic factors affecting customer purchasing behavior [177]. - Net sales in the U.S. decreased by $390.5 million, contributing to a 34.0% decline in domestic sales compared to the prior year [205]. - Net sales in the U.S. decreased by $390.5 million, while international sales decreased by $105.5 million in the same period [205]. - Working capital increased during the three months ended March 31, 2024, primarily due to lower accrued liabilities from the payout of 2023 variable incentive compensation [228]. Research and Development - Research and development (R&D) expenses decreased by $21.2 million, or 16.9%, to $104.4 million, attributed to lower spending across all segments [210]. - Research and Development (R&D) expenses for the three months ended March 31, 2024, were $104.4 million, a decrease of 16.9% from $125.6 million in the prior year [206]. - Investment in R&D increased by 25%, totaling $500 million for the fiscal year [241]. Strategic Initiatives - The company completed the sale of its Home Networks segment on January 9, 2024, which has been recast in prior period amounts to reflect this discontinuation [175]. - The company plans to enter two new markets by the end of 2024, aiming for an additional $400 million in revenue [241]. - The company completed a strategic acquisition valued at $1.2 billion to enhance its technology portfolio [241]. User and Market Growth - User base expanded by 10 million active users, totaling 150 million users globally [241]. - Market expansion efforts led to a 30% increase in sales in the Asia-Pacific region [241]. - The company projects a revenue growth of 20% for the next quarter, expecting to reach $6.24 billion [241]. - New product line launched, contributing $300 million in revenue within the first month [241]. - Gross margin improved to 45%, up from 42% in the previous quarter [241]. - Customer retention rate improved to 85%, reflecting strong user satisfaction [241].