CommScope prelim Q3 net loss $829M on $895M impairment; cuts FY Core adj. EBITDA guide to $1.00-1.05B

Vistance Networks, Inc.

2023-Q3 EPS reported -$4.62 revenue$5,519,400,000

Preliminary Q3 consolidated net sales $1.60B; Core net sales $1.35B (ex-Home).
GAAP net loss $829M includes $895M non-cash impairments in Home and ANS segments.
Core adjusted EBITDA $246M; FY 2023 Core guide lowered to $1.00-$1.05B.
Demand weak across CCS, OWN, and ANS due to customer inventory digestion and slower spending.
CEO expects softer demand into H1 2024; cost actions position for recovery when demand returns.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Vistance Networks, Inc. reported the third quarter of 2023 results: revenue approximately $1.60 billion, net income approximately $829 million. Guidance lowered.

Period: the third quarter of 2023
Revenue: approximately $1.60 billion
Net income: approximately $829 million
Guidance: lowered
Result: preliminary results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 CommScope Announces Preliminary Third Quarter 2023 Results Preliminary Third Quarter Results • Consolidated net sales of $1.60 billion • Core net sales of $1.35 billion* • GAAP net loss of $829 million, which includes non-cash asset impairments of $895 million • Core adjusted EBITDA of $246 million* * References

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Source: SEC EDGAR

accession 0000950170-23-056128

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