On the 3rd of November, CommScope announced third quarter financial results. The key highlights include: Net sales of $2.381 billion; Core net sales of $1.990 billion*; GAAP net income of $22.9 million; Non-GAAP adjusted EBITDA of $347.6 million; Core adjusted EBITDA of $352.9 million*; Cash flow used in operations of $(87.6) million and non-GAAP adjusted free cash flow of $(91.0) million. “I am pleased to share that we delivered Core net sales of $1.99 billion and Core adjusted EBITDA of $353 million for the third quarter of 2022 – our highest performance on record since completing the ARRIS acquisition. As we have continued to reiterate over the last several quarters, we are taking swift action to drive growth in our business and offset inflationary impacts. Our third quarter results, namely turning our NICS segment profitable in the quarter, are a testament to our execution. While supply chain challenges remain and there is broader macroeconomic uncertainty, we maintain our expectation to deliver Core adjusted EBITDA for the full year 2022 within the previously provided range of $1.15–$1.25 billion,” said Chuck Treadway, President and Chief Executive Officer.
CommScope Reports Third Quarter 2022 Results
03.11.2022