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Comtech Telecommunications (CMTL) Reports Q4 Loss, Misses Revenue Estimates
CMTLComtech Telecommunications(CMTL) ZACKS·2024-10-31 23:51

Core Viewpoint - Comtech Telecommunications (CMTL) reported a quarterly loss of 0.35pershare,significantlymissingtheZacksConsensusEstimateof0.35 per share, significantly missing the Zacks Consensus Estimate of 0.05, marking an earnings surprise of -800% compared to earnings of 0.29pershareayearago[1][2]FinancialPerformance−Thecompanypostedrevenuesof0.29 per share a year ago [1][2] Financial Performance - The company posted revenues of 126.19 million for the quarter ended July 2024, which was 1.97% below the Zacks Consensus Estimate and down from 148.81millioninthesamequarterlastyear[2]−Overthelastfourquarters,ComtechhassurpassedconsensusEPSestimatesonlyonceandhastoppedconsensusrevenueestimatesjustonceaswell[2]StockPerformance−Comtechshareshavedeclinedapproximately54.1148.81 million in the same quarter last year [2] - Over the last four quarters, Comtech has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once as well [2] Stock Performance - Comtech shares have declined approximately 54.1% since the beginning of the year, contrasting with the S&P 500's gain of 21.9% [3] - The company's current Zacks Rank is 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.04 on revenues of 140.7million,whileforthecurrentfiscalyear,theestimateis140.7 million, while for the current fiscal year, the estimate is 0.55 on revenues of $601.67 million [7] - The trend of estimate revisions for Comtech has been favorable ahead of the earnings release, although this could change following the recent report [6] Industry Context - The Wireless Equipment industry, to which Comtech belongs, is currently ranked in the bottom 37% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - The performance of Comtech's stock may also be influenced by the overall outlook for the industry [8]