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CommScope (COMM) Reports Q3 Loss, Lags Revenue Estimates
COMMCommScope(COMM) ZACKS·2024-11-07 13:50

Company Performance - CommScope reported a quarterly loss of 0.05pershare,significantlymissingtheZacksConsensusEstimateof0.05 per share, significantly missing the Zacks Consensus Estimate of 0.33, and down from earnings of 0.13pershareayearago,representinganearningssurpriseof−115.150.13 per share a year ago, representing an earnings surprise of -115.15% [1] - The company posted revenues of 1.08 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 24.05%, and down from 1.6billioninthesamequarterlastyear[2]−Overthelastfourquarters,CommScopehassurpassedconsensusEPSestimatesonlyonceandhastoppedconsensusrevenueestimatesjustonce[2]StockPerformance−CommScopeshareshaveincreasedapproximately146.51.6 billion in the same quarter last year [2] - Over the last four quarters, CommScope has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - CommScope shares have increased approximately 146.5% since the beginning of the year, outperforming the S&P 500's gain of 24.3% [3] - The current consensus EPS estimate for the upcoming quarter is 0.34 on revenues of 1.44billion,andforthecurrentfiscalyear,itis1.44 billion, and for the current fiscal year, it is 0.98 on revenues of $5.42 billion [7] Industry Outlook - The Communication - Infrastructure industry, to which CommScope belongs, is currently in the top 37% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly impact stock performance [5][8]