On the 4th of November, CommScope announced 2021 third quarter results. The quarter key highlights include: net spaces decrease of 3%, reaching $2.105 billion; Core net sales came at $1.690 billion; The GPA net loss was of $124.2 million.
Chuck Treadway, president and chief executive officer, commented: “Our third quarter performance and financial results reflect the ongoing challenges associated with the global supply chain disruption, increased costs of materials and freight, and semiconductor chip shortage occurring across our industry and broader economy. While we continue to experience strong demand for CommScope’s products and services, we expect these significant headwinds to persist in the near-term. We are actively and swiftly addressing external pressures and are engaging with our customer base regarding pricing adjustments, as well as operational measures to make up for inflation effects. Our teams remain laser focused on executing on our CommScope NEXT strategy and achieving our goals of incremental growth, cost optimization and shareholder value creation.”