Hickory-based CommScope’s Stock Up 8 Percent After Projecting Strong Revenue

1/28/19

By Casey Quam, NCBIZNews

CommScope Holding Company Inc.’s stock price rose more than 8 percent on Monday after the company reported preliminary fourth-quarter revenue that was higher than expected.

The revenue estimates for the fourth quarter are between $1.045 billion and $1.07 billion in net sales, between $171 million and $186 million in adjusted operating income and between $188 million and $203 million in adjusted EBITDA.

Analysts were expecting revenue of $1.04 billion for the quarter.

The revenue estimates for the full year are between $4.555 billion and $4.58 billion in net sales, between $830 million and $845 million in adjusted operating income and between $905 million and $920 million in adjusted EBITDA.

Analysts were expecting revenue of $4.55 billion for the year.

“We delivered preliminary results in line with or above our expectations in the fourth quarter of 2018,” said CommScope CEO Eddie Edwards in a statement. “For 2019, we continue to expect modest growth and relatively stable year over year results.”

CommScope’s stock closed at $20.63 on Monday, up $1.59, or 8.35 percent.

CommScope is a communications infrastructure company that designs, builds and manages wired and wireless networks around the world.

CommScope has not completed its financial closing procedures for the quarter and full year, and its audited consolidated financial statements for the full year are not yet available. Actual financial results may differ from these preliminary estimates.

The company will release its final numbers for the quarter and the year on Feb. 21. In November, it announced a $7.4 billion acquisition for Arris International PLC.

The filing can be found here.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.