Commscope Holding Company, Inc. (NASDAQ: COMM) has reported its fourth-quarter and full-year 2024 results, showcasing notable changes in various financial metrics compared to the previous year. In the fourth quarter of 2024, the company saw a 26.6% increase in net sales, reaching $1.17 billion compared to $923.1 million in the same period in 2023. Additionally, the non-GAAP adjusted EBITDA for Q4 2024 surged to $223.1 million, marking an 86.9% increase from the prior year's $119.4 million.
The core non-GAAP adjusted EBITDA for the same period reached $240.4 million, demonstrating a substantial 68.7% rise from the previous year's $142.5 million. The company's cash flow generated by operations in Q4 2024 amounted to $277.8 million, with free cash flow totaling $270.5 million. These figures represent impressive improvements from the prior year.
Looking at the full-year highlights, Commscope reported a 7.9% decrease in net sales for 2024, amounting to $4.21 billion compared to $4.57 billion in 2023. However, the non-GAAP adjusted EBITDA for the full year showed a 5.4% increase, reaching $700.2 million in 2024 from $664.3 million in the previous year. The core non-GAAP adjusted EBITDA remained flat at $756.4 million for 2024. Notably, the company's cash flow generated by operations for the full year was $273.1 million, with free cash flow amounting to $247.8 million.
These results reflect a transformative year for Commscope, with the company's leadership highlighting the sequential core quarterly adjusted EBITDA improvement throughout the year. The company expressed confidence in its performance and profitability, with the CEO stating that they are well-positioned for 2025.
Commscope's regional net sales saw increases across the United States, Europe, Middle East, and Africa, and the Asia Pacific region, with the Caribbean and Latin America region being the only area to experience a decline in net sales.
The company also completed the sale of its own segment and the DAS business unit of the NICS segment to Amphenol Corporation, further fortifying its financial position. Notably, Commscope made significant progress in refinancing a portion of its debt, extending its debt maturities to 2029 and 2031.
Commscope's results demonstrate its commitment to enhancing company performance and profitability, with a focus on business growth, free cash flow generation, and deleveraging. The company's ability to achieve substantial growth in various financial metrics compared to the previous year positions it strongly for future success.
For more information about Commscope's financial performance and business developments, the company will host a conference call to discuss its results and trends that have occurred after the quarter-end.
About Commscope: Commscope (NASDAQ: COMM) is a global leader in network connectivity solutions, empowering customers to anticipate and invent advanced wired and wireless networks.
For further updates, refer to the company's investor relations website and its official social media channels. Following these announcements, the company's shares moved 24.1%, and are now trading at a price of $6.07. If you want to know more, read the company's complete 8-K report here.
