CommScope Reports Third Quarter 2025 Results
#InvestorRelations--CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended September 30, 2025. Summary of Con...
Third Quarter Highlights
- Consolidated net sales of $1.63 billion
- RemainCo net sales of $516.3 million*
- GAAP income from continuing operations of $106.9 million
- Consolidated non-GAAP adjusted EBITDA of $402.5 million(1)
- RemainCo non-GAAP adjusted EBITDA of $90.6 million*(1)
- Cash flow generated by operations of $151.4 million and free cash flow of $135.0 million(2)
* RemainCo financial measures reflect the results of the RUCKUS and Access Network Solutions (ANS) segments, in the aggregate, and exclude the results and performance of the Connectivity and Cable Solutions (CCS) segment. RemainCo financial measures also exclude general corporate costs that were previously allocated to the Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit, since these costs were not directly attributable to these discontinued operations.
(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.
(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.
CLAREMONT, N.C.: #InvestorRelations--CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended September 30, 2025.
Summary of Consolidated Results |
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| Q3 |
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| Q3 |
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| % Change |
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| 2025 |
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| 2024 |
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| YOY |
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| (in millions, except per share amounts) |
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Consolidated net sales |
| $ | 1,629.7 |
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| $ | 1,082.2 |
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| 50.6 | % |
RemainCo net sales (1) |
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| 516.3 |
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| 345.5 |
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| 49.4 |
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GAAP income (loss) from continuing operations |
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| 106.9 |
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| (96.7 | ) |
| NM |
| |
GAAP income (loss) from continuing operations per share |
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| 0.38 |
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|
| (0.52 | ) |
| NM |
| |
Consolidated non-GAAP adjusted EBITDA (2) |
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| 402.5 |
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| 204.2 |
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|
| 97.1 |
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RemainCo non-GAAP adjusted EBITDA (1) (2) |
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| 90.6 |
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| 46.5 |
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| 94.8 |
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Non-GAAP adjusted net income per diluted share (2) |
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| 0.62 |
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| (0.06 | ) |
| NM |
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NM – Not meaningful |
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(1) RemainCo financial measures reflect the results of the RUCKUS and ANS segments, in the aggregate, and exclude the results and performance of the CCS segment. RemainCo financial measures also exclude general corporate costs that were previously allocated to the OWN segment and DAS business unit, since these costs were not directly attributable to these discontinued operations. |
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(2) See “Non-GAAP Financial Measures” below. |
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“We are pleased with our outstanding results in the third quarter. All businesses continue to deliver strong results as we take advantage of strong market conditions and deliver against our strategic initiatives. CommScope net sales of $1.63 billion increased 50.6% from the prior year. Non-GAAP adjusted EBITDA was $402 million, a strong improvement of 97% year-over-year, marking the sixth consecutive quarter of adjusted EBITDA growth. Third quarter adjusted EBITDA as a percentage of revenues was 24.7%, compared to 18.9% in the prior year, a year-over-year improvement of 580 basis points. The performance is a testament to our focus on what we can control and our team implementing that strategic focus. We are well positioned as we move into the fourth quarter and are raising our 2025 consolidated adjusted EBITDA guideposts to $1.30 to $1.35 billion as well as raising our RemainCo adjusted EBITDA guidance to $350 to $375 million,” said Chuck Treadway, President and Chief Executive Officer.
We now expect our CCS deal to close in the first quarter of 2026. When the deal closes, we plan to repay all existing debt, redeem our preferred equity and add modest new leverage to the remaining company. This will generate significant excess cash, and we expect to distribute a substantial portion of such excess cash to our common shareholders as a special dividend within 60 to 90 days following the closing of the transaction. The exact amount of the special dividend will be determined after the CCS closing, taking into account all relevant factors at the time.
“We are extremely happy with our strong cash flow generation. During the quarter, we increased our cash balance by $134 million and ended the quarter with $705 million of cash. As evidenced by the third quarter results in ANS and RUCKUS, we are excited about the future of the remaining company. On a twelve-month trailing basis, ANS and RUCKUS Non-GAAP adjusted EBITDA was $344 million, an increase of 135% versus the previous twelve-month period,” said Kyle Lorentzen, Chief Financial Officer.
Third Quarter Results and Comparisons
Consolidated net sales in the third quarter of 2025 increased 50.6% year-over-year to $1.63 billion due to higher net sales in all segments. Consolidated net sales increased across all regions, except the Caribbean and Latin America region.
Income from continuing operations of $106.9 million, or $0.38 per diluted share, in the third quarter of 2025, increased compared to the prior year period’s loss from continuing operations of $96.7 million, or $(0.52) per share. Non-GAAP adjusted net income for the third quarter of 2025 was $172.0 million, or $0.62 per diluted share, versus $(13.2) million, or $(0.06) per share, in the third quarter of 2024.
Consolidated non-GAAP adjusted EBITDA increased 97.1% to $402.5 million in the third quarter of 2025 compared to the same period last year. Non-GAAP adjusted EBITDA as a percentage of net sales increased to 24.7% in the third quarter of 2025 compared to 18.9% in the same prior year period. RemainCo non-GAAP adjusted EBITDA increased 94.8% to $90.6 million in the third quarter of 2025 compared to the same prior year period. RemainCo non-GAAP adjusted EBITDA as a percentage of net sales increased to 17.5% in the third quarter of 2025 compared to 13.5% in the same prior year period.
Reconciliations of the reported GAAP results to non-GAAP adjusted results are included below.
Third Quarter Comparisons
Sales by Region
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| % Change | ||||||||
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| Q3 2025 |
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| Q3 2024 |
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| YOY | |||||
United States |
| $ | 1,220.0 |
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| $ | 714.6 |
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| 70.7 |
| % |
Europe, Middle East and Africa |
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| 167.6 |
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| 159.3 |
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| 5.2 |
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Asia Pacific |
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| 162.8 |
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| 126.6 |
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| 28.6 |
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Caribbean and Latin America |
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| 45.2 |
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| 47.5 |
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| (4.8 | ) |
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Canada |
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| 34.1 |
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| 34.2 |
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| (0.3 | ) |
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Total net sales |
| $ | 1,629.7 |
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| $ | 1,082.2 |
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| 50.6 |
| % |
Segment Net Sales
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| % Change | |||||
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| Q3 2025 |
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| Q3 2024 |
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| YOY | |||||
RUCKUS |
| $ | 178.5 |
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| $ | 154.9 |
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| 15.2 |
| % |
ANS |
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| 337.8 |
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| 190.6 |
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| 77.2 |
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RemainCo net sales (1) |
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| 516.3 |
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| 345.5 |
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| 49.4 |
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CCS |
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| 1,113.4 |
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| 736.7 |
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| 51.1 |
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Total net sales |
| $ | 1,629.7 |
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| $ | 1,082.2 |
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| 50.6 |
| % |
Segment Operating Income (Loss)
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| % Change | |||||
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| Q3 2025 |
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| Q3 2024 |
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| YOY | |||||
RUCKUS |
| $ | 19.1 |
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| $ | 7.8 |
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| 144.9 |
| % |
ANS |
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| 25.5 |
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| (16.7 | ) |
| NM |
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RemainCo operating income (loss) (1) |
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| 44.6 |
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| (8.9 | ) |
| NM |
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CCS |
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| 256.3 |
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| 136.5 |
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| 87.8 |
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Corporate and other (2) |
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| - |
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| (25.4 | ) |
| NM |
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Total operating income |
| $ | 300.9 |
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| $ | 102.2 |
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| 194.4 |
| % |
Segment Adjusted EBITDA (See “Non-GAAP Financial Measures,” below)
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| % Change | |||||
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| Q3 2025 |
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| Q3 2024 |
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| YOY | |||||
RUCKUS |
| $ | 36.4 |
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| $ | 26.4 |
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| 37.9 |
| % |
ANS |
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| 54.2 |
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| 20.1 |
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| 169.7 |
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RemainCo adjusted EBITDA (1) |
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| 90.6 |
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| 46.5 |
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| 94.8 |
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CCS |
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| 311.9 |
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| 173.9 |
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| 79.4 |
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Corporate and other (2) |
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