{"id":78731,"date":"2023-10-31T00:46:24","date_gmt":"2023-10-31T04:46:24","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/commscopes-stock-plunges-toward-a-record-low-after-a-warning-that-sales-profitability-will-disappoint\/"},"modified":"2023-10-31T00:46:27","modified_gmt":"2023-10-31T04:46:27","slug":"commscopes-stock-plunges-toward-a-record-low-after-a-warning-that-sales-profitability-will-disappoint","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78731","title":{"rendered":"CommScope\u2019s stock plunges toward a record low after a warning that sales, profitability will disappoint"},"content":{"rendered":"
\n

Shares of CommScope Holding Co. Inc.
\n COMM,
\n -38.84%<\/bg-quote>
\n plunged 17.8% into record-low territory, after the telecommunications networks company warned investors that sales and profitability will disappoint, citing \u201d\u00a0low order rates driven by customers continuing to hold higher than required inventories, uncertain macroeconomic environment and slower service provider network capital expenditure spending.\u201d The company expects third-quarter sales of $1.60 billion, which is well below the current FactSet consensus of $1.99. The company expects to report a net loss of $829 million, due primarily to an asset impairment charge of $895 million. Given the lower-than-expected third-quarter results, the company cut its guidance range for 2023 core earnings before interest, taxes, depreciation and amortization (Ebitda) to $1.00 billion to $1.05 billion from $1.15 billion to $1.25 billion. CommScope is slated to report third-quarter results on Nov. 9. The stock, which is on track to open below the Oct. 23 record-low close of $2.24, has plummeted 45.5% over the past three months through Friday, while the S&P 500
\n SPX,
\n +1.20%<\/bg-quote>
\n has lost 10.1%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of CommScope Holding Co. Inc. COMM, -38.84% plunged 17.8% into record-low territory, after the telecommunications networks company warned investors that sales and profitability will disappoint, citing \u201d\u00a0low order rates driven by customers continuing to hold higher than required inventories, uncertain macroeconomic environment and slower service provider network capital expenditure spending.\u201d The company expects third-quarter […]<\/p>\n","protected":false},"author":1,"featured_media":78672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-78731","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nCommScope\u2019s stock plunges toward a record low after a warning that sales, profitability will disappoint | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of CommScope Holding Co. 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