Clearfield Q3 net sales down 14% YoY; raises FY2023 EPS guidance to $2.05-$2.15

Clearfield, Inc.

2023-Q3 EPS reported $2.00 revenue$219,035,000

Q3 net sales $61.3M (-14% YoY); net income $5.2M (-59%); diluted EPS $0.33 vs $0.92.
Gross margin 31.1% vs 41.1% YoY, hurt by excess capacity and Nestor acquisition.
Order backlog $74.7M, down 31% sequentially and 52% YoY.
Reiterated FY2023 revenue guidance $260-275M; raised EPS guidance from $1.80-2.10 to $2.05-2.15.
Expects near-term headwinds from customer inventory digestion and cautious community broadband capex into FY2024.

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 0.9

Clearfield, Inc. reported fiscal year 2023 results: revenue $260 to $275 million, EPS $2.05 to $2.15 per share. Guidance raised.

Period: fiscal year 2023
Revenue: $260 to $275 million
EPS: $2.05 to $2.15 per share
Guidance: raised
Result: guidance update

Exact text from the filing

Clearfield continues to expect its full year fiscal 2023 net sales to be within a range of $260 to $275 million, and now expects net income per share to be in the range of $2.05 to $2.15, up from $1.80 to $2.10 previously.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Clearfield, Inc. reported the third quarter of fiscal 2023 ended June 30, 2023 results: revenue $61.3 million, net income $5.2 million, EPS $0.33 per diluted share.

Period: the third quarter of fiscal 2023 ended June 30, 2023
Revenue: $61.3 million
Net income: $5.2 million
EPS: $0.33 per diluted share
Result: reported results

Exact text from the filing

our full year net income per share guidance.” Financial Results for the Three Months Ended June 30, 2023 Net sales for the third quarter of fiscal 2023 decreased 14% to $61.3 million from $71.3 million in the same year-ago quarter. Organic revenue decreased 33% year over year to $47.9 million, while Nestor Cables generated revenue of $13.4 million. As of June

View on SEC.gov

Browse all earnings releases →

Clearfield, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-23-004976

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.