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CommScope Reports Third Quarter 2024 Results

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CommScope (NASDAQ: COMM) reported Q3 2024 results with net sales of $1.08 billion, up 2.7% year-over-year. The company posted a GAAP loss from continuing operations of $(96.7) million, or $(0.52) per share. Core non-GAAP adjusted EBITDA reached $220.4 million, a 25% increase from the previous year. The CCS segment showed strong performance with $174 million adjusted EBITDA, up 115% year-over-year. The company generated $122.2 million in operating cash flow and ended the quarter with total liquidity of approximately $1.02 billion. CommScope has narrowed its full-year Core adjusted EBITDA guidance to $700-750 million.

CommScope (NASDAQ: COMM) ha riportato i risultati del terzo trimestre 2024 con vendite nette di 1,08 miliardi di dollari, in aumento del 2,7% rispetto all'anno precedente. L'azienda ha registrato una perdita GAAP dalle operazioni continuative di $(96,7) milioni, ovvero $(0,52) per azione. L'EBITDA core rettificato non-GAAP ha raggiunto 220,4 milioni di dollari, con un incremento del 25% rispetto all'anno scorso. Il segmento CCS ha mostrato prestazioni forti con un EBITDA rettificato di 174 milioni di dollari, in aumento del 115% rispetto all'anno precedente. L'azienda ha generato 122,2 milioni di dollari in flusso di cassa operativo e ha concluso il trimestre con una liquidità totale di circa 1,02 miliardi di dollari. CommScope ha ristretto la sua guida per l'EBITDA core rettificato annuale a 700-750 milioni di dollari.

CommScope (NASDAQ: COMM) reportó los resultados del tercer trimestre de 2024 con ventas netas de 1.08 mil millones de dólares, un aumento del 2.7% interanual. La compañía presentó una pérdida GAAP de operaciones continuas de $(96.7) millones, o $(0.52) por acción. El EBITDA ajustado core no-GAAP alcanzó 220.4 millones de dólares, un incremento del 25% en comparación con el año anterior. El segmento de CCS mostró un rendimiento sólido con un EBITDA ajustado de 174 millones de dólares, un aumento del 115% interanual. La empresa generó 122.2 millones de dólares en flujo de efectivo operativo y terminó el trimestre con una liquidez total de aproximadamente 1.02 mil millones de dólares. CommScope ha reducido su guía de EBITDA core ajustado para todo el año a 700-750 millones de dólares.

CommScope (NASDAQ: COMM)는 2024년 3분기 실적을 보고하며 순매출 10억 8천만 달러를 기록했으며, 이는 전년 대비 2.7% 증가한 수치입니다. 이 회사는 지속적인 운영에서의 GAAP 손실이 $(9670만) 달러, 즉 주당 $(0.52)로 나타났습니다. 핵심 비GAAP 조정 EBITDA는 2억 2040만 달러에 도달했으며, 이는 전년 대비 25% 증가한 것입니다. CCS 부문은 강력한 성과를 보이며 1억 7400만 달러의 조정 EBITDA를 기록했으며, 이는 전년 대비 115% 증가한 수치입니다. 이 회사는 1억 2220만 달러의 운영 현금 흐름을 발생시켰고, 분기를 마감할 때 약 10억 2000만 달러의 총 유동성을 보유하고 있었습니다. CommScope는 연간 핵심 조정 EBITDA 가이드를 7억~7억 5천만 달러로 좁혔습니다.

CommScope (NASDAQ: COMM) a annoncé ses résultats pour le troisième trimestre 2024 avec des ventes nettes de 1,08 milliard de dollars, en hausse de 2,7 % d'une année sur l'autre. L'entreprise a affiché une perte GAAP des opérations continues de $(96,7) millions, soit $(0,52) par action. L'EBITDA ajusté core non-GAAP a atteint 220,4 millions de dollars, un accroissement de 25 % par rapport à l'année précédente. Le segment CCS a affiché des performances solides avec un EBITDA ajusté de 174 millions de dollars, en hausse de 115 % d'une année sur l'autre. L'entreprise a généré 122,2 millions de dollars de flux de trésorerie opérationnel et a terminé le trimestre avec une liquidité totale d'environ 1,02 milliard de dollars. CommScope a restreint sa prévision d'EBITDA ajusté core pour l'année entière à 700-750 millions de dollars.

CommScope (NASDAQ: COMM) hat die Ergebnisse des dritten Quartals 2024 bekannt gegeben, mit einem Nettoumsatz von 1,08 Milliarden Dollar, was einem Anstieg von 2,7% im Vergleich zum Vorjahr entspricht. Das Unternehmen hatte einen GAAP-Verlust aus fortgeführten Betrieben von $(96,7) Millionen, oder $(0,52) pro Aktie. Das bereinigte EBITDA ohne GAAP erreichte 220,4 Millionen Dollar, ein Anstieg von 25% gegenüber dem Vorjahr. Der CCS-Sektor zeigte eine starke Leistung mit einem bereinigten EBITDA von 174 Millionen Dollar, was einem Anstieg von 115% im Jahresvergleich entspricht. Das Unternehmen generierte 122,2 Millionen Dollar an operativem Cashflow und schloss das Quartal mit einer Gesamtliquidität von etwa 1,02 Milliarden Dollar. CommScope hat seine Prognose für das gesamte Jahr für das bereinigte Kern-EBITDA auf 700-750 Millionen Dollar eingegrenzt.

Positive
  • Net sales increased 2.7% year-over-year to $1.08 billion
  • Core non-GAAP adjusted EBITDA grew 25% to $220.4 million
  • CCS segment adjusted EBITDA increased 115% to $174 million
  • Strong operating cash flow of $122.2 million
  • Total liquidity of $1.02 billion with $456.4 million in cash
Negative
  • GAAP loss from continuing operations of $96.7 million
  • NICS segment sales decreased 22.3%
  • ANS segment sales declined 14.7%
  • Caribbean and Latin America region sales dropped 5%

Insights

CommScope's Q3 results show mixed performance with some encouraging signs. Net sales increased 2.7% to $1.08 billion, while Core adjusted EBITDA saw a significant improvement of 25% to $220.4 million. The CCS segment was particularly strong, with adjusted EBITDA growing 115% to $174 million.

The company's financial health shows improvement with $456.4 million in cash and total liquidity of $1.02 billion. However, challenges persist with NICS and ANS segments showing revenue declines of 22.3% and 14.7% respectively. The pending sale of the OWN segment and DAS business unit to Amphenol could help streamline operations and strengthen the balance sheet.

The regional sales data reveals strategic insights, with the U.S. market showing modest growth of 3.1% and EMEA up 4%. The only decline was in the Caribbean and Latin America region at -5%. The Enterprise business within CCS segment demonstrates strong market demand, while Ruckus's decline in NICS suggests shifting competitive dynamics in network infrastructure.

Management's commentary about visibility and uncertain upgrade timing indicates ongoing market challenges, though investments in next-generation network products position the company for potential future growth. The narrowed Core adjusted EBITDA guidance of $700-750 million suggests cautious optimism.

Third Quarter Highlights

  • Net sales of $1.08 billion
  • GAAP loss from continuing operations of $(96.7) million
  • Non-GAAP adjusted EBITDA of $204.2 million (1)
  • Core non-GAAP adjusted EBITDA of $220.4 million* (1)
  • Cash flow generated by operations of $122.2 million and free cash flow of $115.5 million (1) (2)

* Core financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS) excluding Distributed Antenna Systems (DAS), and Access Network Solutions (ANS) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Outdoor Wireless Networks (OWN) segment, DAS business unit and Home Networks (Home) segment. These indirect costs are classified as continuing operations, since they were not directly attributable to these discontinued operations. See the segment comparison tables below showing the aggregation of the Core financial measures.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

CLAREMONT, N.C.--(BUSINESS WIRE)-- CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended September 30, 2024.

Summary of Consolidated Results

 

 

 

Q3

 

 

Q3

 

 

% Change

 

 

 

2024

 

 

2023

 

 

YOY

 

 

 

(in millions, except per share amounts)

 

Net sales

 

$

1,082.2

 

 

$

1,053.4

 

 

 

2.7

%

GAAP loss from continuing operations

 

 

(96.7

)

 

 

(533.8

)

 

 

(81.9

)

GAAP loss from continuing operations per share

 

 

(0.52

)

 

 

(2.59

)

 

NM

 

Non-GAAP adjusted EBITDA (1)

 

 

204.2

 

 

 

156.8

 

 

 

30.2

 

Core non-GAAP adjusted EBITDA (1) (2)

 

 

220.4

 

 

 

176.3

 

 

 

25.0

 

Non-GAAP adjusted net loss per diluted share (1)

 

 

(0.05

)

 

 

(0.12

)

 

NM

 

 

 

 

 

 

 

 

 

 

 

NM – Not meaningful

 

 

 

 

 

 

 

 

 

(1) See “Non-GAAP Financial Measures” below.

 

 

 

 

 

 

 

 

 

(2) Core financial measures reflect the results of the CCS, NICS (excluding DAS) and ANS segments, in the aggregate, and exclude general corporate costs that were previously allocated to the OWN segment, DAS business unit and Home segment, since these costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, these costs related to the Home segment have been reallocated to the remaining segments. These costs related to the OWN segment and DAS business unit will be reallocated to the remaining segments beginning in the first quarter of 2025.

 

“In the third quarter, CommScope delivered net sales of $1.082 billion, up 3% from the prior year, and Core adjusted EBITDA of $220 million, up 25% from the prior year. These results were primarily driven by strength in our CCS segment which delivered $174 million of adjusted EBITDA, an increase of 115% from the prior year. In addition to the CCS segment, we saw a sequential recovery in our Core NICS segment (excluding DAS). I’m pleased with our third quarter performance as we sequentially improved both revenue and adjusted EBITDA from the second quarter and saw a year-over-year improvement. Visibility continues to remain limited as upgrade timing and magnitude of network upgrades remain uncertain. We would expect to see continued momentum in all of our businesses over the next several quarters as we have made the investments in our products to help our customers deliver their next generations networks. We continue to control what we can, which was demonstrated by our third quarter 2024 Core adjusted EBITDA as a percentage of revenue of 20.4%, a significant improvement compared to 16.7% in the same prior year period,” said Chuck Treadway, President and Chief Executive Officer.

“For the third quarter, CommScope (including OWN and DAS) reported net sales of $1.414 billion, an increase of 5% from the prior year. Adjusted EBITDA of $308 million increased by 27%. We have narrowed our full year Core adjusted EBITDA guideposts to $700 to $750 million. We finished the third quarter with strong total liquidity of more than $1.02 billion including cash at quarter end of $456 million. In the third quarter, we engaged with our current creditors to address our debt maturities, and those conversations continue to be constructive,” added Kyle Lorentzen, Chief Financial Officer.

In the third quarter of 2024, CommScope entered into an agreement with Amphenol Corporation to divest of its OWN segment and DAS business unit. We expect the transaction to close in the first quarter of 2025. As a result of the pending transaction, unless otherwise noted, these financial results relate to CommScope’s continuing operations based on the following remaining three operating segments: CCS, NICS (excluding DAS) and ANS. For all periods presented, amounts have been recast to reflect these changes.

Third Quarter Results and Comparisons

Net sales in the third quarter of 2024 increased 2.7% year-over-year to $1.082 billion due to stronger net sales in the CCS segment, partially offset by lower net sales in the NICS and ANS segments. Net sales increased across all regions, except the Caribbean and Latin America region, in the third quarter of 2024.

Loss from continuing operations of $96.7 million, or $(0.52) per share, in the third quarter of 2024, improved compared to the prior year period's loss from continuing operations of $533.8 million, or $(2.59) per share. Non-GAAP adjusted net loss for the third quarter of 2024 was $13.2 million, or $(0.05) per share, versus $30.3 million, or $(0.12) per share, in the third quarter of 2023.

Non-GAAP adjusted EBITDA increased 30.2% to $204.2 million in the third quarter of 2024 compared to the same period last year. Non-GAAP adjusted EBITDA as a percentage of net sales increased to 18.9% in the third quarter of 2024 compared to 14.9% in the same prior year period. Core non-GAAP adjusted EBITDA increased 25.0% to $220.4 million in the third quarter of 2024 compared to the same prior year period. Core non-GAAP adjusted EBITDA as a percentage of net sales increased to 20.4% in the third quarter of 2024 compared to 16.7% in the same prior year period.

Reconciliations of the reported GAAP results to non-GAAP adjusted results are included below.

Third Quarter Comparisons

Sales by Region

 

 

 

 

 

% Change

 

 

Q3 2024

 

 

Q3 2023

 

 

YOY

United States

 

$

714.6

 

 

$

693.2

 

 

 

3.1

 

%

Europe, Middle East and Africa

 

 

159.3

 

 

 

153.1

 

 

 

4.0

 

 

Asia Pacific

 

 

126.6

 

 

 

126.1

 

 

 

0.4

 

 

Caribbean and Latin America

 

 

47.5

 

 

 

50.0

 

 

 

(5.0

)

 

Canada

 

 

34.2

 

 

 

31.0

 

 

 

10.3

 

 

Total net sales

 

$

1,082.2

 

 

$

1,053.4

 

 

 

2.7

 

%

Segment Net Sales

 

 

 

 

 

 

 

 

% Change

 

 

Q3 2024

 

 

Q3 2023

 

 

YOY

CCS

 

$

736.7

 

 

$

630.5

 

 

 

16.8

 

%

NICS

 

 

157.5

 

 

 

202.6

 

 

 

(22.3

)

 

ANS

 

 

188.0

 

 

 

220.3

 

 

 

(14.7

)

 

Total net sales

 

$

1,082.2

 

 

$

1,053.4

 

 

 

2.7

 

%

Segment Operating Income (Loss)

 

 

 

 

 

 

 

 

% Change

 

 

Q3 2024

 

 

Q3 2023

 

 

YOY

CCS

 

$

136.5

 

 

$

26.3

 

 

 

419.0

 

%

NICS

 

 

9.1

 

 

 

21.3

 

 

 

(57.3

)

 

ANS

 

 

(18.0

)

 

 

(429.8

)

 

 

(95.8

)

 

Core operating income (1)

 

 

127.6

 

 

 

(382.2

)

 

NM

 

 

Corporate and other (2)

 

 

(25.4

)

 

 

(26.2

)

 

 

(3.1

)

 

Total operating income (loss)

 

$

102.2

 

 

$

(408.4

)

 

NM

 

 

Segment Adjusted EBITDA (See “Non-GAAP Financial Measures,” below)

 

 

 

 

 

 

 

 

% Change

 

 

Q3 2024

 

 

Q3 2023

 

 

YOY

CCS

 

$

173.9

 

 

$

80.9

 

 

 

115.0

 

%

NICS

 

 

27.8

 

 

 

39.2

 

 

 

(29.1

)

 

ANS

 

 

18.7

 

 

 

56.2

 

 

 

(66.7

)

 

Core adjusted EBITDA (1)

 

 

220.4

 

 

 

176.3

 

 

 

25.0

 

 

Corporate and other (2)

 

 

(16.2

)

 

 

(19.5

)

 

 

(16.9

)

 

Total segment adjusted EBITDA

 

$

204.2

 

 

$

156.8

 

 

 

30.2

 

%

 

 

 

 

 

 

 

 

 

 

 

NM – Not meaningful

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Core financial measures reflect the results of the CCS, NICS (excluding DAS) and ANS segments, in the aggregate, and exclude general corporate costs that were previously allocated to the OWN segment, DAS business unit and Home segment, since these costs were not directly attributable to these discontinued operations.

(2) The corporate and other line item above reflects general corporate costs that were previously allocated to the OWN segment, DAS business unit and Home segment. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, the corporate and other costs related to the Home segment have been reallocated to the remaining segments and partially offset by income from the Vantiva TSA. The corporate and other costs related to the OWN segment and DAS business unit will be reallocated to the remaining segments beginning in the first quarter of 2025.

  • CCS - Net sales of $736.7 million increased 16.8% from the prior year period primarily driven by an increase in the Enterprise business.
  • NICS - Net sales of $157.5 million decreased 22.3% from the prior year period primarily driven by declines in Ruckus.
  • ANS - Net sales of $188.0 million decreased 14.7% from the prior year period primarily driven by declines in Access Technologies and Broadband Network Solutions.

Cash Flow and Balance Sheet

  • GAAP cash flow generated by operations in the third quarter of 2024 was $122.2 million.
  • Free cash flow in the third quarter of 2024 was $115.5 million after adjusting operating cash flow for $6.7 million of additions to property, plant and equipment. The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.
  • The Company ended the third quarter with $456.4 million in cash and cash equivalents which includes $64.2 million in cash and cash equivalents in assets held for sale.
  • As of September 30, 2024, the Company had no outstanding borrowings under its asset-based revolving credit facility and had availability of $567.9 million, after giving effect to borrowing base limitations and outstanding letters of credit. The Company ended the quarter with total liquidity of approximately $1,024.3 million.

Conference Call, Webcast and Investor Presentation

As previously announced, CommScope will host a conference call today at 8:30 a.m. ET in which management will discuss third quarter 2024 results. The conference call will also be webcast.

The live, listen-only audio of the call will be available through a link on the Events and Presentations page of CommScope’s Investor Relations website.

A webcast replay will be archived on CommScope’s website for a limited period of time following the conference call.

During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends that have occurred after quarter-end, including questions relating to the planned sale of its OWN segment and DAS business unit. The Company’s responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously.

About CommScope:

CommScope (NASDAQ: COMM) is pushing the boundaries of technology to create the world’s most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower customers to anticipate what’s next and invent what’s possible. Discover more at www.commscope.com.

Follow us on Twitter and LinkedIn and like us on Facebook.

Sign up for our press releases and blog posts.

Non-GAAP Financial Measures

CommScope management believes that presenting certain non-GAAP financial measures enhances an investor’s understanding of our financial performance. CommScope management further believes that these financial measures are useful in assessing CommScope’s operating performance from period to period by excluding certain items that we believe are not representative of our core business. CommScope management also uses certain of these financial measures for business planning purposes and in measuring CommScope’s performance relative to that of its competitors. CommScope management believes these financial measures are commonly used by investors to evaluate CommScope’s performance and that of its competitors. However, CommScope’s use of certain non-GAAP terms may vary from that of others in its industry. Non-GAAP financial measures should not be considered as alternatives to operating income (loss), net income (loss), cash flow from operations or any other performance measures derived in accordance with U.S. GAAP as measures of operating performance, operating cash flows or liquidity. A reconciliation of each of the non-GAAP measures discussed herein to their most comparable GAAP measures is below.

Core Measures

CommScope believes that presenting Core financial measures enhances the investor’s understanding of the financial performance of the Company’s core businesses. Core financial measures are the aggregate of the CCS, NICS (excluding DAS), and ANS segments, and exclude general corporate costs that were previously allocated to the OWN segment, DAS business unit and Home segment, since these costs were not directly attributable to the discontinued operations. The Core results represent the business results as currently managed and reported by CommScope. Future results and the composition of any business divested in the future may vary and differ materially from the presentation of the Core financial measures.

Forward Looking Statements

This press release includes certain statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to future events and financial performance. These forward-looking statements are generally identified by their use of such terms and phrases as “intend,” “goal,” “estimate,” “expect,” “project,” “projections,” “plans,” “potential,” “anticipate,” “should,” “could,” “designed to,” “foreseeable future,” “believe,” “think,” “scheduled,” “outlook,” “target,” “guidance” and similar expressions, although not all forward-looking statements contain such terms. This list of indicative terms and phrases is not intended to be all-inclusive.

These forward-looking statements are subject to various risks and uncertainties, many of which are outside our control, including, without limitation, our dependence on customers’ capital spending on data, communication and entertainment equipment, which could be negatively impacted by a regional or global economic downturn, among other factors; the potential impact of higher than normal inflation; concentration of sales among a limited number of customers and channel partners; risks associated with our sales through channel partners; changes to the regulatory environment in which we and our customers operate; changes in technology; industry competition and the ability to retain customers through product innovation, introduction, and marketing; changes in cost and availability of key raw materials, components and commodities and the potential effect on customer pricing and timing of delivery of products to customers; risks related to our ability to implement price increases on our products and services; risks associated with our dependence on a limited number of key suppliers for certain raw materials and components; risks related to the successful execution of CommScope NEXT and other cost saving initiatives; potential difficulties in realigning global manufacturing capacity and capabilities among our global manufacturing facilities or those of our contract manufacturers that may affect our ability to meet customer demands for products; possible future restructuring actions; the risk that our manufacturing operations, including our contract manufacturers on which we rely, encounter capacity, production, quality, financial or other difficulties causing difficulty in meeting customer demands; our substantial indebtedness, including our upcoming maturities and evaluation of capital structure alternatives and restrictive debt covenants; our ability to refinance existing indebtedness prior to its maturity or incur additional indebtedness at acceptable interest rates or at all; our ability to generate cash to service our indebtedness; the divestiture of the Home segment and its effect on our remaining businesses; the expected timing of the closing of the sale of the OWN and DAS businesses (the Transaction); the expected benefits of the Transaction, including the expected financial performance of CommScope following the Transaction; the ability of the parties to obtain any required regulatory approvals in connection with the Transaction and to complete the Transaction considering the various closing conditions; expenses related to the Transaction and any potential future costs; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreement governing the Transaction, or an inability to consummate the Transaction on the terms described or at all; the effect of the announcement of the Transaction on the ability of CommScope to retain and hire key personnel and maintain relationships with its key business partners and customers, and others with whom it does business, or on its operating results and businesses generally; the response of CommScope’s competitors, creditors and other stakeholders to the Transaction; risks associated with the disruption of management’s attention from ongoing business operations due to the Transaction; the ability to meet expectations regarding the timing and completion of the Transaction; potential litigation relating to the Transaction; restrictions during the pendency of the Transaction that may impact the ability to pursue certain business opportunities, including uncertainty regarding the timing of the separation, achievement of the expected benefits and the potential disruption to the business; our ability to integrate and fully realize anticipated benefits from prior or future divestitures, acquisitions or equity investments; possible future additional impairment charges for fixed or intangible assets, including goodwill; our ability to attract and retain qualified key employees; labor unrest; product quality or performance issues, including those associated with our suppliers or contract manufacturers, and associated warranty claims; our ability to maintain effective management information technology systems and to successfully implement major systems initiatives; cyber-security incidents, including data security breaches, ransomware or computer viruses; the use of open standards; the long-term impact of climate change; significant international operations exposing us to economic risks like variability in foreign exchange rates and inflation, as well as political and other risks, including the impact of wars, regional conflicts and terrorism; our ability to comply with governmental anti-corruption laws and regulations worldwide; the impact of export and import controls and sanctions worldwide on our supply chain and ability to compete in international markets; changes in the laws and policies in the United States affecting trade, including the risk and uncertainty related to tariffs or potential trade wars and potential changes to laws and policies, that may impact our products; the costs of protecting or defending intellectual property; costs and challenges of compliance with domestic and foreign social and environmental laws; the impact of litigation and similar regulatory proceedings in which we are involved or may become involved, including the costs of such litigation; the scope, duration and impact of disease outbreaks and pandemics, such as COVID-19, on our business, including employees, sites, operations, customers, supply chain logistics and the global economy; our stock price volatility; income tax rate variability and ability to recover amounts recorded as deferred tax assets; and other factors beyond our control. These and other factors are discussed in greater detail in our 2023 Annual Report on Form 10-K and may be updated from time to time in our annual reports, quarterly reports, current reports and other filings we make with the Securities and Exchange Commission. Although the information contained in this press release represents our best judgment as of the date of this release based on information currently available and reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. Given these uncertainties, we caution you not to place undue reliance on these forward-looking statements, which speak only as of the date made. We are not undertaking any duty or obligation to update this information to reflect developments or information obtained after the date of this press release, except to the extent required by law.

Investor Contact:

Massimo Disabato, CommScope

+1 630-281-3413

Massimo.Disabato@commscope.com

News Media Contact:

publicrelations@commscope.com

Source: CommScope

FAQ

What was CommScope's (COMM) revenue in Q3 2024?

CommScope reported net sales of $1.08 billion in Q3 2024, representing a 2.7% increase from the previous year.

What was CommScope's (COMM) EBITDA performance in Q3 2024?

CommScope's Core non-GAAP adjusted EBITDA was $220.4 million in Q3 2024, showing a 25% increase from the same period last year.

How much cash did CommScope (COMM) generate in Q3 2024?

CommScope generated $122.2 million in operating cash flow and reported free cash flow of $115.5 million in Q3 2024.

What is CommScope's (COMM) full-year 2024 EBITDA guidance?

CommScope narrowed its full-year Core adjusted EBITDA guidance to between $700 million and $750 million.

CommScope Holding Company, Inc.

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