CommScope(US:COMM)2024-05-09 16:03Financial Performance - CommScope's net sales for Q1 2024 were $1.168 billion, a decrease of 30% compared to $1.664 billion in Q1 2023[20] - Adjusted EBITDA for Q1 2024 was $153 million, down 51% from $314 million in Q1 2023[7, 20] - Adjusted EPS for Q1 2024 was $(0.08), a decrease of 124% compared to $0.34 in Q1 2023[20] - Net loss attributable to common stockholders was $375.2 million compared to a net loss of $11.7 million in the same period last year[32] - Net cash used in operating activities was $177.7 million compared to $46.1 million last year[34] Segment Performance - Connectivity and Cable Solutions (CCS) net sales decreased by 26% year-over-year[8] - Networking, Intelligent Cellular and Security Solutions (NICS) net sales decreased by 37% year-over-year[8] - Outdoor Wireless Networks (OWN) net sales decreased by 24% year-over-year[8] - Access Network Solutions (ANS) net sales decreased by 38% year-over-year[8] - Total segment adjusted EBITDA decreased by 51.2% from $313.7 million to $153 million[60] Liquidity and Debt - Net leverage ratio was 9.9x as of March 31, 2024[19, 48] - The company ended the quarter with available liquidity over $900 million[48] - The company is implementing a $100 million savings plan[18]