CommScope noted slower order rates in Q1, but expects fiber and cable business to pick up

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Update time : 2023-05-09 10:02:49
Cable vendor CommScope observed a slowdown in core net sales for the first quarter, which it attributed to low order rates amid an uncertain economic environment. But on Thursday’s earnings call, CEO Chuck Treadway pointed to “strong market tailwinds” in CommScope’s Connectivity and Cable Solutions (CCS) segment, as the company continues to build out its fiber and cable solutions portfolio.
CommScope in March announced it will invest $47 million in expanding its fiber optic manufacturing. The expansion’s focus lies in the vendor’s new HeliARC cable, which CommScope claimed will enable faster installation.
Despite a “lower book-to-bill ratio” for the quarter, Treadway said CommScope ended Q1 with a core backlog of $2.4 billion. He noted changes in near-term demand included “substantial customer inventory adjustments.”
“We believe the short-term adjustment will give way to long-term demand as network and fiber buildout[s] [are] still in early innings,” he said. “However, we are closely monitoring the expected recovery as our early second quarter order activity remains low.”



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