Commscope Hldg Co Inc Stock Price, News & Analysis

CommScope’s stockholders approved five proxy proposals at the annual meeting. Directors re-elected include Mary S. Chan and Timothy T. Yates, each serving until the 2023 annual meeting. Ernst & Young LLP was ratified as the independent public accounting firm for the 2022 fiscal year. The stockholders also backed executive compensation on a non-binding advisory basis and approved additional shares under the 2019 Long-Term Incentive Plan. Series A Convertible Preferred Stockholders re-elected Mindy Mackenzie and Patrick R. McCarter as directors.

CommScope reported a 7.6% increase in net sales to $2.229 billion in Q1 2022, with Core net sales growing 10.3% to $1.733 billion. However, the company saw a GAAP net loss of $139.9 million, up 43.3% from last year. Non-GAAP adjusted EBITDA fell 12.6% to $253.3 million. Significant growth was noted in Connectivity and Cable Solutions (24%) and Outdoor Wireless Networks (20%). Despite challenges from supply chain issues, the company aims for Core adjusted EBITDA of $1.15 to $1.25 billion for the year.

CommScope (NASDAQ: COMM) has unveiled a new cloud-to-edge suite of XGS-PON solutions aimed at enhancing global fiber deployments. This innovative suite supports 10G infrastructure and is designed to meet increasing consumer demand and facilitate government and private sector funding opportunities. Key features include a flexible architecture, interoperability, and cloud-based operations, allowing service providers to optimize capex, reduce opex, and accelerate technology changes. The solutions will be showcased at ANGA from May 10-12, with lab trials starting in Q3.

CommScope has partnered with Orange Moldova to launch the Orange TV Box 4K, enhancing subscriber viewing experiences by offering both live television and premium streaming services. The device features a Hybrid DVB-C and IP connected 4K UHD digital video decoder, allowing access to over 180 live TV channels and recording functionalities. Sustainable practices are highlighted, with packaging using 99% recycled plastics and eliminating single-use plastics. This partnership marks CommScope’s third deployment using Android TV, following similar agreements in Slovakia and Belgium.

CommScope has launched Mosaic, a new active-passive antenna platform aimed at facilitating quicker 5G deployments for mobile network operators. With an innovative modular design, Mosaic simplifies tower complexity and reduces space and wind load while ensuring compatibility with existing 4G systems. Operators globally are expected to invest $1 trillion in 5G-related CAPEX from 2019 to 2025. This platform not only enhances 5G capacity but also allows legacy systems to co-exist, optimizing previous investments as demand for 5G connectivity rises.

CommScope Holdings plans to disclose its Q1 2022 financial results on May 5 before market open. The announcement will be followed by a conference call at 8:30 a.m. Eastern, where management will discuss the results. Investors can access a live audio stream via the Investor Relations website. A replay will be available post-call.

CommScope has partnered with Orange Belgium to launch next-generation set tops powered by the Android TV™ OS. These devices will enhance subscriber experiences with live TV and streaming services. Key features include access to premium streaming apps, a multiscreen cloud recording service, and Chromecast built-in™ functionality. The devices are environmentally friendly, made with 99% post-consumer recycled plastics and eliminate single-use plastics in packaging. This collaboration marks CommScope's second deployment of Android TV devices, expecting further expansions in 2022.

CommScope has introduced Propel, a high-speed fiber platform aimed at meeting the growing demand for data center capacity and performance. Propel supports Terabit speeds and facilitates modernization with 16-fiber cabling, enabling efficient data access and superior connectivity for applications like cloud computing and AI. By optimizing existing infrastructure, it allows for increased efficiency and reduced costs. Propel features interchangeable sizes and components, backed by a comprehensive warranty, aligning with industry trends towards faster networking solutions.

CommScope announced its partnership with TELUS to provide the ECO Service Management Platform, enhancing management of TELUS's consumer premises equipment (CPE). The platform will automate device management, allowing TELUS to remotely upgrade firmware and improve operational efficiency. With over 80 million CPE devices under its management, CommScope aims to simplify and optimize lifecycle management, enhancing customer experience and reducing operational costs for TELUS. TELUS anticipates improved service quality and reduced service calls as a result of this collaboration.