CLFD - Earnings call transcript Q4 2024

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Operator

Good afternoon, and welcome to the Clearfield Fiscal Fourth Quarter and Full Year 2024 Conference Call. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the conference over to Greg McNiff, Investor Relations for Clearfield. Please go ahead.

Greg McNiff

Thank you.

call Herzog, Beranek, Clearfield's today's CEO; President on Dan and CFO. me are Clearfield's Cheri and Joining Starting this company's quarter, shareholder highlights letter, Clearfield future will be provides and overview publishing an of the outlook. financial operational which results a quarterly

turn description in a Risk call of Commission the over Securities these and Cheri Form that, The and the events section from undertakes this call, and results update statements remarks Beranek. a Clearfield's you remarks to both obligation constitute Reform company provide Investor the on those statements. It forward-looking letter and purposes These that are harbor to question-and-answer XX-K uncertainties and CEO, After risks. With prepared today's company. cautions factors to those could that session. Please press letter contained website. that regarding to safe Factors would risk open statements differ will Exchange this important earnings remarks, forward-looking on Form release to cause on note its company release, You is materially can provisions except recent actual These most we the performance shareholder forward-looking materially filing forward-looking cause subject note such expressed management the Litigation as financial for by Securities in could to and in the like of making of find XX-Q and Cheri? brief the risks results with future from The that Private the will Clearfield's be consider Clearfield's conference Relations subsequent the floor in no future the during for also to President statements call. to I of required law. the actual shareholder statements Act. filings the differ

Cheryl Beranek

brief today the full update fiscal XXXX. We'll joining Clearfield's fourth thank a Good to for trends. provide year performance current business us everyone, and afternoon, and quarter and market discuss on you our results for

letter posted detailed For more information, of section IR please website. the our on our shareholder to refer

We believe for operational key more will it performance and financial it thoughtful have our allows highlighting start over a and Q&A. in Dan turn for as a we format by our comprehensive I themes, and outlook. chosen to this picture business present more new summary of of our offers and performance then to some

significant To back and the steady at our looking in XXXX challenging that dynamics, XXXX operating new investing focus to are deployment reduce customer First, fiscal cost positioning we its proud business optimized and end, exited time that stronger had. products structure. industry our opportunities on they launched on the fiscal Clearfield and and we capitalize of several relationships, with

to revenue positive by response to we Our grow, encouraged customer are active connected solutions. the cabinet from and homes continues our

excited we opportunities forward, expansion. both the private are our Looking public broadband from and rural about funding for

the which Deploy homes, by the you of required. To and labor and active decades-long We FiberFlex we year, the solutions cabinets. including at aimed are CraftSmart businesses Clearfield reduce many of reducing the time of scalable lowering level TAP know, the of several new FiberFirst to a and commitment Reel the small introduced Box the As supporting of that homes series in core CraftSmart focus end, on is cost our of skilled in the brings Pedestal, products value past rural cost communities. the connecting SeeChange, and the market town and to deployment providing aspect

delivered BILT fiber installation interactive XD mobile simplifies a app, tool introduced also via process. deployment which the We the

through product investments. additional Rural We XXXX will into continue and to support segment Broadband beyond the releases and

new a months. introduce that intend the coming in finalizing design TAP we the portfolio of are We distributed to

brings recently for of also tireless over was Kevin thrilled skills. in diverse joined Morgan Officer. Anis industry to leadership the of like efforts with has experience promoted Chief We'd Khemakhem XX message. are the that and years Clearfield all company his thank Anis set Marketing We a to of promoting

with to Broadband that Association us an in on pleased will Clearfield the work other Fiber will events. advisory are represent We and and capacity industry Kevin continue at

While we large continue to that to segment community the coupled we outlook, the a this XXXX. I'd will ordering second to now accounts, providers to share with and for over cadence. XXXX quarter returned overhang, mostly later at regional serve We of our growth part overview pass like as this results EA-CAM an is believe provide believe significant and the a while improved deployment, by financial fiscal BEAD-driven expect inventory impacted Dan as program, that Herzog, to XXXX, our while outlook. anticipate CFO, the for the ordering who the to year patterns excess MSO located our primarily focuses the recovered the have as broadband of catalyst we be well phase shift normal will the which and of on in demand full call

Daniel Herzog

Thank sales regional were and net includes in as both you, period, we've results decrease million sales large markets figure same seen provider categories. X% were from year above certain our $XX levels of but sales. The afternoon, by service guidance million $XX.X $XX.X net million everyone. sales This net Cheri, Consolidated a the fiscal driven North inventory million quarter decrease million. product $XX.X fourth million good and stronger-than-expected XXXX $XX.X to international higher ago $XX of range and in the MSO of in the American in of

mainly a million $X.X Additionally, cash from net approximately quarter. fourth in to million the of $XX.X inventory the positive approximately in generated company operations flow reduction quarter of the in due

from for sales cash consolidated in positive million, $XXX.X approximately net million Clearfield XXXX. were $XX.X generated For fiscal a fiscal year, from of full the XX% $XXX.X operations year. the flow full decrease million

homes quarter to year, of the a comparable to periods. and revenue continue For overall saw we portion from both represent ago larger the revenue connected relative year

operators program as fiscal focus continue XXXX into on flow while BEAD deployments expect over this cash We funding. generation trend awaiting to

the an Clearfield year, into has outlook. which consistent general company industry of transitioned past end-to-end and for homes, the products portfolio for supplier successfully with has passing the both connecting growth positioned Over

focus Clearfield are As funding $XXX on international to in on it we XXXX. We guiding markets revenue that focused fiscal to from be impact beyond anticipate with gross profit as as BEAD or to with to our a we XXXX of U.S. growth growth $XXX year for above revenues strongest. minimal million accelerate million We the of and rural line industry-focused is revenue for anticipate the where is growth this improvements segment. market result, positive in forecasts

are of conservatism on build some utilization spending. level on remain currently seeing service bullish in Although providers we the their capital of fiber plans,

$XX to result, a As first $XX XXXX to start our a the somewhat million. million quarter we fiscal in anticipate slow with the sales range of net year,

the generate that, fiscal loss expect open share we range will in XXXX. And the the to to a your We quarter per of $X.XX questions. with of $X.XX net to first call in

Operator

being over There like closing Cheri Instructions] no would conference to this Beranek to session. the for [Operator will questions, further any back conclude turn question-and-answer our I remarks.

Cheryl Beranek

base able the change has want commitment enable I quarterly It's focus Yes. provides of but level and to joined that a continue It has better to and that who is absolutely dynamics a us lifestyle basis, our environment broadband being a to consistent. to monthly on been thank to this our and year. customer challenging everyone today.

the of again you year forward speaking look and course with community to serving to we fiscal our XXXX. So over

Operator

has conference concluded. attending now for The Thank presentation. today's you

now your may You have and pleasant a disconnect lines, day.

Clearfield (CLFD) 7 Nov 242024 Q4 Earnings call transcript