Clearfield Inc Up 2.82% To $24.78 After Earnings Beat

Friday, November 10, 2023 - Clearfield Inc (CLFD) reported upside earnings and revenues today.

Analyst expectations for Clearfield Inc earnings per share (EPS) were at $0.10, with the company surpassing those estimates with a reported EPS of $0.17, leading to a positive surprise of $0.07 per share (70%). Clearfield Inc's earnings were down 86% year-over-year as the firm reported an EPS of $1.22 in its year-ago quarter. The negative annual growth shows the Technology company isn't performing well amid current economic conditions.

Revenues were upbeat at $49.7 million. That represents a 47.72% decrease in revenues from the year-ago report and is 1.27% higher than consensus estimates set at $49.1 million.

The stock is up 2.82% to $24.78 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Clearfield Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 19, putting Clearfield Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $22.91 on October 31, 2023 and set a 52-week high on November 25, 2022 at $134.9.

Clearfield Inc mainly designs, manufactures, and distributes fiber protection, fiber management and fiber delivery solutions for communications networks. It provides a range of products including copper assemblies, cassettes, box enclosures, fiber connectors, frames, microduct, terminals, vaults, pedestal inserts, FieldSmart, WaveSmart, and CraftSmart. The company has a global presence with the majority of the revenue derived from the United States.