Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:ADTRAN Holdings, Inc. (ADTN) is a fiber networking solutions provider. The Zacks Consensus Estimate for its current year earnings has been revised 225% downward over the last 60 days.The Container Store Group, Inc. (TCS) is a specialty retailer of organizing solutions and custom spaces. The Zacks Consensus Estimate for its current year earnings has been revised 169.2% downward over the last 60 days.Finward Bancorp (FNWD) is the holdin ...

STOCKHOLM--(BUSINESS WIRE)--Adtran today announced that Netnod is leveraging its optical pumping cesium atomic clock technology to bring precise, reliable and assured timing to Sweden’s critical national infrastructure. Protecting the country’s timing services is vital for the nation’s economy, encompassing finance, digital services and next-generation telecoms networks, such as 5G. By upgrading its timing network with the coreSync™ OSA 3300-HP, Netnod, the leading provider of internet exchange, DNS and tim ...

ADTRAN, Inc. (ADTN) recently announced that South Central Rural Telecommunications Cooperative (SCRTC) opted to deploy ADTRAN’s Advanced Link Monitor (ALM) to proactively identify faults and degradation in fiber networks. Optical fiber is the backbone of today’s network and making sure it is fully operational is a complex endeavor. Broadband connectivity has become essential for daily life with its broad range of use cases in businesses, remote work, education, entertainment and access to healthcare and fin ...

GLASGOW, Ky.--(BUSINESS WIRE)--Adtran today announced that South Central Rural Telecommunications Cooperative (SCRTC) is using its ALM in-service fiber monitoring solution to continuously probe its fiber network for faults and degradations. The comprehensive assurance platform empowers SCRTC to locate and resolve issues before they impact services for its customers across South Central Kentucky. With no need to engage in time-consuming manual fault isolation, SCRTC can leverage its maintenance resources mor ...

ADTRAN Holdings, Inc. (NASDAQ:ADTN) Q4 2023 Results Conference Call February 27, 2024 10:30 AM ET Company Participants Tom Stanton - CEO Uli Dopfer - CFO Conference Call Participants George Notter - Jefferies Michael Genovese - Rosenblatt Securities Ryan Koontz - Needham & Company Tim Savageaux - Northland Capital Markets Operator Ladies and gentlemen, thank you for standing by. And welcome to ADTRAN Holdings Incorporated Fourth Quarter 2023 Earnings Release Conference Call [Operator Instructions]. During ...

ADTRAN Holdings, Inc. (ADTN) reported soft fourth-quarter 2023 results, wherein both the bottom line and the top line missed the respective Zacks Consensus Estimate. The company recorded a top-line contraction year over year due to geopolitical tension, forex volatility and tough competition from other players in the market.Net IncomeOn a GAAP basis, the net loss in the December quarter was $109.9 million or a loss of $1.40 per share against an income of $38.9 million or 49 cents per share in the prior-year ...

Core Insights - ADTRAN Holdings, Inc. reported preliminary unaudited financial results for Q4 2023, indicating a challenging revenue environment but improvements in gross margins and operating expenses [1][4]. Financial Performance - Preliminary GAAP gross margin for Q4 2023 was 34.8%, an increase of 483 basis points year-over-year and 754 basis points quarter-over-quarter, driven by lower purchasing and transportation costs, as well as reduced acquisition-related expenses [1][2]. - Preliminary non-GAAP gross margin was 41.9%, up from 40.3% in Q3 2023 and 39.1% in the same quarter last year, reflecting a favorable customer and product mix [2]. - Preliminary GAAP operating margin was negative 16.7%, impacted by lower revenue and acquisition-related expenses, while non-GAAP operating margin was negative 1.4%, at the upper end of the guidance range [2][3]. - The company reported a preliminary GAAP net loss of $109.9 million for Q4 2023, translating to a diluted loss per share of $1.40 [2][3]. Revenue and Cost Analysis - Total revenue for Q4 2023 was $225.5 million, down from $358.3 million in Q4 2022, with Network Solutions revenue at $180.4 million and Services & Support revenue at $45.1 million [15]. - Cost of revenue for Q4 2023 was $147.0 million, compared to $250.9 million in the same quarter last year, with a notable inventory write-down of $3.3 million [15][18]. - The company reduced GAAP operating expenses by 7.6% sequentially and 17.0% year-over-year, while non-GAAP operating expenses were reduced by 15.1% sequentially and 17.7% year-over-year [2][3]. Management Commentary - The CEO expressed that while revenue challenges persist due to macroeconomic conditions and elevated customer inventories, the fundamental demand for expanding fiber infrastructure remains strong [4]. - The company is implementing cost improvement measures to transform into a more streamlined and efficient organization, positioning itself for better performance when spending normalizes [4]. Upcoming Events - ADTRAN Holdings will hold a conference call on February 27, 2024, to discuss its preliminary fourth-quarter results [4].

ADTRAN Inc. (ADTN) announced that Vodafone Turkey has selected ADTRAN Oscilloquartz optical cesium atomic clock technology to ensure ultra-reliable synchronization for the nationwide network services. The suite of solutions encompasses Oscilloquartz OSA 3350 ePRC+™, which is integrated with Vodafone’s existing core grandmaster clocks Oscilloquartz OSA 5440 and OSA 5430.Leveraging optical pumping technology, the OSA 3350 ePRC+ offers high-performance frequency stability and effectively matches the rising dem ...

HUNTSVILLE, Ala.--(BUSINESS WIRE)--Adtran today announced that it has been recognized as one of STL Partners’ top 100 edge computing companies for 2024, marking its second consecutive year of inclusion on the list. The acknowledgment reaffirms Adtran’s substantial contributions to the sector and highlights its role as a leader, driving innovation amidst the quickly evolving edge computing landscape. This leadership is increasingly vital as more enterprises and service providers seek options beyond centrally ...

HUNTSVILLE, Ala.--(BUSINESS WIRE)--Adtran today announced its readiness to support the Broadband Equity Access and Deployment (BEAD) program, welcoming the clarity and guidance provided by the Build America, Buy America (BABA) rule. With its commitment to US-based manufacturing spanning three decades, Adtran is at the forefront of the market with BABA-compliant fiber access solutions ready to enhance nationwide connectivity, economic growth and the digital inclusivity of communities across America. With 42. ...