NASDAQ$CMTL
Comtech Telecommunications Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Comtech's Q4 2023 results reflected sequential revenue growth and improved profitability, driven by strategic wins and operational efficiencies.
Comtech reported a strong Q4 fiscal year 2023 with a 17.2% increase in consolidated net sales compared to Q4 2022, reaching $148.8 million. The company achieved GAAP operating income for the first time since Q4 fiscal 2021, and Adjusted EBITDA improved to $18.9 million, or 12.7% of consolidated net sales. Bookings for the quarter totaled $142.6 million, and backlog stood at $662.2 million.
- Comtech's consolidated net sales increased by 17.2% year-over-year, reaching $148.8 million.
- The company achieved its first quarter of GAAP operating income since Q4 fiscal 2021, reporting $1.1 million.
- Adjusted EBITDA was $18.9 million, representing 12.7% of consolidated net sales, compared to $12.7 million in Q4 fiscal 2022.
- Key bookings during Q4 fiscal 2023 included $30.0 million from the U.S. Army for next-generation troposcatter terminals and $21.0 million from the State of Ohio for next-generation 911 solutions.
Headline financials
Revenue & EPS history
Comtech · Revenue · Quarterly
$149M
Revenue by segment
Comtech · $94.2M total across 1 segment · Q4 2023
- Satellite and Space Communications$94.2M—100.0%
Forward guidance
For the first quarter of fiscal 2024, Comtech is targeting consolidated net sales to sequentially increase approximately 1.0% to 4.0% and for its consolidated Adjusted EBITDA margin to range between 11.0% and 13.0%.
Tailwinds
- Targeting consolidated net sales to sequentially increase approximately 1.0% to 4.0%
- Expecting consolidated Adjusted EBITDA margin to range between 11.0% and 13.0%.
- Assumptions include the timing of and performance on orders from the U.S. Army for VSAT equipment.
- Assumptions include the timing of and our performance on our recently awarded $544.0 million GFSR contract.
- Expect a near-term close.
Headwinds
- Macroeconomic environment continues to be challenging and largely unpredictable.
- Factors such as inflation, rising interest rates, repercussions of military conflicts and a potential global recession.
- Order and production delays, disruptions in component availability.
- Increased pricing for labor and parts, lower levels of factory utilization and higher logistics and operational costs also continue to impact our business.
- The $544.0 million GFSR contract, which has been protested by the prior incumbent.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
-3.1%
Avg return
Earnings day
-3.0%
Avg return
5 days after
-3.9%
Avg return
30 days after
32%
21 / 66 earnings
Positive
+75.6%
Q3 2024
Best reaction
-26.9%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | — | — | — | |
| Q2 2026 | -24.5% | -25.4% | -17.5% | |
| Q1 2026 | -15.5% | -21.3% | +51.1% | |
| Q4 2025 | +7.0% | +6.7% | +20.7% | |
| Q3 2025 | +0.0% | +14.4% | +26.2% | |
| Q2 2025 | -11.3% | -9.4% | -36.6% | |
| Q4 2024 | -24.8% | +1.7% | -26.6% | |
| Q3 2024 | +75.6% | +67.7% | +40.1% | |
| Q2 2024 | -25.3% | -30.1% | -56.2% | |
| Q1 2024 | -26.9% | -36.4% | -31.8% | |
| Q4 2023 | +17.8% | +17.3% | +37.0% | |
| Q3 2023 | -19.1% | -20.6% | -23.8% | |
| Q2 2023 | -15.8% | -22.6% | -24.8% | |
| Q1 2023 | +5.4% | +3.1% | -1.6% | |
| Q4 2022 | -2.4% | +4.2% | +5.9% | |
| Q3 2022 | -24.0% | -28.5% | -25.9% | |
| Q2 2022 | -19.3% | -19.5% | -25.2% | |
| Q1 2022 | -2.9% | -6.8% | -6.7% | |
| Q4 2021 | -13.5% | -12.9% | +1.1% | |
| Q3 2021 | -10.4% | -12.1% | +1.8% | |
| Q2 2021 | -3.5% | -10.4% | -13.8% | |
| Q1 2021 | -14.4% | -11.6% | +10.5% | |
| Q4 2020 | -0.2% | -0.4% | +6.8% | |
| Q3 2020 | -7.2% | +6.6% | -13.3% | |
| Q2 2020 | -15.2% | -22.4% | -56.8% | |
| Q1 2020 | -0.5% | -3.9% | -1.5% | |
| Q4 2019 | +17.6% | +12.3% | +6.6% | |
| Q3 2019 | +17.5% | +17.4% | +24.0% | |
| Q2 2019 | -10.0% | -14.9% | -12.2% | |
| Q1 2019 | +13.7% | +1.5% | -2.7% | |
| Q4 2018 | -5.9% | +2.3% | -19.0% | |
| Q3 2018 | -2.0% | -4.5% | -1.2% | |
| Q2 2018 | +25.3% | +28.2% | +23.9% | |
| Q1 2018 | +6.3% | -0.6% | +5.3% | |
| Q4 2017 | -13.5% | -4.3% | +5.6% | |
| Q3 2017 | +17.4% | +24.0% | +23.6% | |
| Q2 2017 | +24.8% | +28.5% | +20.6% | |
| Q1 2017 | -11.9% | -4.8% | -0.3% | |
| Q4 2016 | -7.2% | -10.0% | -24.6% | |
| Q3 2016 | -10.8% | -20.9% | -42.3% | |
| Q2 2016 | +0.0% | — | — | |
| Q1 2016 | -5.7% | — | — | |
| Q4 2015 | -19.4% | — | — | |
| Q3 2015 | -0.4% | — | — | |
| Q2 2015 | -13.1% | — | — | |
| Q1 2015 | -16.0% | — | — | |
| Q4 2014 | -5.7% | — | — | |
| Q3 2014 | +23.3% | — | — | |
| Q2 2014 | +1.4% | — | — | |
| Q1 2014 | +1.9% | — | — | |
| Q4 2013 | +5.8% | — | — | |
| Q3 2013 | +3.5% | — | — | |
| Q2 2013 | -4.9% | — | — | |
| Q1 2013 | -5.8% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | +4.5% | — | — | |
| Q2 2012 | +4.2% | — | — | |
| Q1 2012 | -4.4% | — | — | |
| Q4 2011 | +2.0% | — | — | |
| Q4 2009 | +2.0% | — | — | |
| Q3 2010 | -10.8% | — | — | |
| Q3 2011 | -10.8% | — | — | |
| Q2 2010 | -3.5% | — | — | |
| Q2 2011 | -3.5% | — | — | |
| Q1 2011 | -12.1% | — | — | |
| Q4 2010 | -12.1% | — | — | |
| Q1 2010 | -12.1% | — | — |
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