Calix Shares Move Lower on Mixed Q1 and Weak Guidance
Calix (CALX) stock dipped after the company reported mixed first quarter financial results and issued weak second quarter guidance. Here’s a look:
- Q1 revenue: $226.31 million, missing the $228.139 million estimate
- Q1 adjusted EPS: $0.21, beating the $0.20 estimate
The company issued guidance, which is also putting selling pressure on the stock as it’s below estimates for both second quarter adjusted EPS and revenue.
| Adjusted EPS Guidance | Estimate | Revenue Guidance | Estimate | |
| Q2 | $0.03 to $0.09 | $0.24 | $197 million to $203 million | $232.76 million |
Calix highlighted its continued success and growth in the platform, cloud, and managed services sectors. But, also noted ongoing challenges in the appliance (hardware systems) segment of its business.
Against the current crosswinds that are still prevalent across our industry, we generated revenue of
Calix First Quarter Letter to Stockholders
$226.3 million, which was within the guidance range provided in January, and produced our fourth
consecutive quarter of double-digit free cash flow, further strengthening our already strong balance
sheet.
The company has a conference call scheduled for tomorrow at 8:30 AM.
Calix stock traded 15.4% lower to $25.01 on heavy volume following the announcement. The stock has a 52-week high of $29.71 and a 52-week low of $29.01.
