Clearfield, Inc. Revises Earnings Guidance for the Fiscal Year 2023
May 04, 2023 at 04:00 pm EDT
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Clearfield, Inc. revised earnings guidance for the fiscal year 2023. Due to customer order trends and an anticipated normalization of inventory carrying practices at customer sites, the Company is updating its fiscal year 2023 guidance. The company now expects net sales guidance to be within a range of $260 million to $275 million, down approximately $120 million from the previous guidance at the mid-point, and net income per share guidance to be $1.80 to $2.10, down $2.45 per share from the previous guidance at the mid-point, respectively.
The updated net sales guidance at the midpoint is consistent with fiscal 2022 and the updated net income guidance represents a 45% decrease at the midpoint compared to fiscal 2022.
Clearfield, Inc. designs, manufactures and distributes fiber protection, fiber management and fiber delivery solutions to enable fiber-fed deployment throughout the broadband service provider space primarily across North America. It has two segments: the Clearfield Operating (Clearfield) and the Nestor Cables Operating (Nestor). Clearfield segment is focused on providing fiber management, fiber protection and fiber delivery products that accelerate the turn-up of fiber-based networks in residential homes, businesses and network infrastructure on the wireline and wireless access network. It offers a portfolio of fiber products that allow service providers to build fiber networks faster, meet service delivery demands, and align build costs with take rates. Nestor segment manufactures fiber optic and copper telecommunication cables and equipment, which it distributes to telecommunication operators, network owners, electric companies, building contractors and industrial companies.
CLEARFIELD, INC. 
