Adtran Inc Stock Price, News & Analysis

ADTRAN Holdings, Inc. (NASDAQ: ADTN) announced it will release its Q1 2023 financial results after the market closes on May 8, 2023. A conference call is scheduled for May 9, 2023, at 9:30 a.m. Central Time to discuss the results. Investors can access the call via the ADTRAN Investor Relations site.

ADTRAN is a leading global provider of open and disaggregated networking solutions and the largest shareholder of ADVA, which enhances cloud and mobile services across Europe.

ADTRAN Holdings, Inc. (NASDAQ: ADTN) released preliminary unaudited financial results for Q1 2023, showing expected revenue between $322 million and $326 million, falling short of the guidance of $355 million to $375 million. This shortfall is attributed to customer inventory corrections impacting the Subscriber Solutions product line and supply constraints across all categories. The preliminary GAAP operating margin is projected between -14% and -17%, with non-GAAP operating margin between -1% and -2.5%. CEO Tom Stanton highlighted ongoing supply issues and anticipates improvements in the second quarter. Final results are expected to be announced on May 8, 2023.

Adtran is playing a pivotal role in the EU-funded SoFiN project, which aims to develop flexible fiber-based sensing applications for critical infrastructure. The four-year initiative involves eight partners across Europe, and focuses on enhancing monitoring in fiber-optic and power distribution networks while mitigating water supply leakage. Adtran will leverage its fiber assurance technology to create cost-effective, energy-efficient multi-sensing systems. The project is expected to transform infrastructure supervision, providing significant benefits to sectors such as telecommunications and power grids.

Adtran has announced a partnership with Partner Communications, Israel's second-largest mobile operator, to deploy its open, disaggregated 10G fiber access platform. This platform aims to rapidly deliver multigigabit broadband services, enhancing Partner Communications' competitiveness in a growing market. By simplifying operations and allowing simultaneous provisioning of GPON and XGS-PON services, Adtran's solution will help attract new subscribers and efficiently connect them. The technology supports scalability while reducing operational costs, thus positioning Partner Communications to better meet high market demand for multigigabit services.

ADTRAN Holdings announced the retirement of CFO Mike Foliano, effective June 28, 2023, after 39 years in the telecommunications industry. Uli Dopfer has been appointed as the new CFO, effective May 1, 2023. Foliano's leadership significantly contributed to the company's success, and he is praised for his expertise. Dopfer, with 20 years of industry experience, previously served as CFO of ADVA Optical Networking and is well integrated into ADTRAN's operations. The transition is expected to be seamless, maintaining the company’s level of service. ADTRAN is committed to continuing its growth under the new CFO's leadership.

Adtran announced that Truespeed is utilizing its XGS-PON technology to expand high-speed full-fiber broadband service across South West England. The network aims to deliver speeds of up to 900Mbit/s for residential customers and 10Gbit/s for businesses, facilitating rapid connectivity with reduced equipment requirements. Truespeed has already reached 60,000 properties, with a goal of connecting 500,000 by 2025. This collaboration emphasizes sustainability and efficiency, leveraging Adtran's technology to meet increasing data demand while minimizing environmental impact.

Adtran, a leader in networking solutions, has formed a strategic partnership with Satelles to integrate Satellite Time and Location (STL) technology into its Oscilloquartz synchronization products. This collaboration aims to enhance the reliability and security of critical infrastructure timing networks by providing an alternative to traditional GNSS systems. STL utilizes encrypted signals from low Earth orbit satellites, making it resistant to disruptions and cyberattacks. The technology is especially beneficial in indoor environments, enhancing the overall robustness of PNT services for sectors such as mobile operations and power utilities.