Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Why Clearfield Stock Is Skyrocketing Today

Clearfield, Inc (NASDAQ:CLFD) reported fourth-quarter net sales growth of 110% year-on-year to $95 million, beating the consensus of $71.4 million.…
byAnusuya Lahiri
November 18, 2022
1 minute read
Total
0
Shares
0
0
0
0
0
0
  • Clearfield, Inc (NASDAQ:CLFD) reported fourth-quarter net sales growth of 110% year-on-year to $95 million, beating the consensus of $71.4 million.
  • Clearfield’s organic revenue grew to $88 million, representing an increase of 94%, while Nestor Cables generated $7 million in revenue . 
  • EPS of $1.22 beat the consensus of $0.86.
  • “As reflected in its record financial performance in the fiscal fourth quarter, Clearfield continues to convincingly execute on its strategic growth plan to capitalize on the market demand for fiber-fed broadband,” said CEO Cheri Beranek.
  • “Our backlog currently stands at an unprecedented $165 million, including $4 million from Nestor Cables, with roughly two-thirds of that total scheduled for customer deployments in the next two quarters.”
  • Clearfield sees FY23 net sales of $380 million – $393 million, above the consensus of $299.5 million.
  • Price Action: CLFD shares traded higher by 25.98% at $117.25 on the last check Friday.
 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Red Hat And Elastic Announces An Expanded Collaboration To Deliver Next-Generation Search Experiences Supporting Retrieval Augmented Generation Patterns Using Elasticsearch As A Preferred Vector Database Solution Integrated On Red Hat OpenShift AI

By Benzinga Newsdesk
May 7, 10:05 AM
Red Hat and Elastic expand collaboration to equip enterprises with tools to support retrieval augmented generation (RAG) integrated on Red Hat OpenShift AI, with Elasticsearch as a preferred vector database solutionRed

ESTC