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Cambium (CMBM) Reports Q2 Loss, Tops Revenue Estimates
CMBMCambium Networks(CMBM) ZACKS·2024-08-08 22:41

Core Viewpoint - Cambium Networks (CMBM) reported a quarterly loss of 0.25pershare,whichwasworsethantheZacksConsensusEstimateofalossof0.25 per share, which was worse than the Zacks Consensus Estimate of a loss of 0.21, and a significant decline from earnings of 0.03pershareayearago,indicatingongoingfinancialstrugglesforthecompany[1][2].FinancialPerformance−Cambium′srevenuesforthequarterendedJune2024were0.03 per share a year ago, indicating ongoing financial struggles for the company [1][2]. Financial Performance - Cambium's revenues for the quarter ended June 2024 were 45.95 million, slightly exceeding the Zacks Consensus Estimate by 0.06%, but down from 59.54millioninthesamequarterlastyear[2].−Overthelastfourquarters,CambiumhasnotsurpassedconsensusEPSestimates,reflectingaconsistentunderperformance[2].StockPerformance−Cambiumshareshavedeclinedapproximately70.559.54 million in the same quarter last year [2]. - Over the last four quarters, Cambium has not surpassed consensus EPS estimates, reflecting a consistent underperformance [2]. Stock Performance - Cambium shares have declined approximately 70.5% since the beginning of the year, contrasting sharply with the S&P 500's gain of 9% [3]. - The current Zacks Rank for Cambium is 4 (Sell), indicating expectations for continued underperformance in the near future [6]. Earnings Outlook - The consensus EPS estimate for the upcoming quarter is -0.02 on revenues of 59.36million,andforthecurrentfiscalyear,itis−59.36 million, and for the current fiscal year, it is -0.60 on revenues of $216.2 million [7]. - The trend of estimate revisions for Cambium has been unfavorable leading up to the earnings release, which may impact future stock performance [6]. Industry Context - Cambium operates within the Wireless National industry, which is currently ranked in the bottom 25% of over 250 Zacks industries, suggesting a challenging environment for growth [8].