NYSE$CIEN

Ciena Corp · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Ciena's Q3 2021 financial performance reflected business momentum and market positioning.

Ciena reported revenue of $988.1 million and a GAAP net income per share of $1.52 for the fiscal third quarter ended July 31, 2021. The company's results reflect continued momentum in the business and a differentiated position in the market.

  • Revenue for Q3 2021 was $988.1 million.
  • GAAP net income per share for Q3 2021 was $1.52.
  • Adjusted (non-GAAP) net income per share for Q3 2021 was $0.92.
  • Ciena repurchased approximately 0.5 million shares of common stock for an aggregate price of $26.0 million during the quarter.

Headline financials

Total Revenue

$988M

Previous: $977M+1.2%
EPS (adj)

$0.92

Previous: $1.06-13.2%
Days Sales Outstanding

89

No prior period
Inventory Turns

4.5

No prior period
Capital Expenditures

-$67.3M

Previous: -$61.3M-9.7%
Free Cash Flow

$219M

Previous: $245M-10.4%
Net Income

$238M

Previous: $142M+67.5%
Operating Income

$149M

Previous: $188M-21.0%
Gross Profit

$475M

Previous: $465M+2.1%
Cash & Equivalents

$1.23B

Previous: $1.09B+12.5%
Total Assets

$4.66B

Previous: $4.06B+14.8%
Stock-Based Comp

$22.5M

Previous: $17.3M+30.2%

Revenue & EPS history

Ciena · Revenue · Quarterly

$988M

Q3 2021+1.2%vs Q3 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Ciena · $988M total across 7 segments · Q3 2021

  • Optical Networking
    $713M-1.3%
  • Maintenance & Support
    $74M+7.1%
  • Routing & Switching
    $69.7M-12.7%
  • Platform Software & Services
    $56.9M+22.6%
  • Implementation
    $46.7M+17.3%
  • Blue Planet Automation
    $16.6M+46.9%
  • Advisory & Enablement
    $11.3M+44.9%

Forward guidance

Ciena anticipates delivering a strong second half performance, supported by robust demand.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+1.8%

Avg return

Earnings day

+1.9%

Avg return

5 days after

+3.7%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+26.1%

Q2 2019

Best reaction

-26.3%

Q3 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-12.9%-1.8%+30.3%
Q4 2025+9.4%-5.4%+3.9%
Q3 2025+22.8%+28.9%+59.7%
Q2 2025-0.4%+1.0%+15.0%
Q1 2025-2.4%-2.6%-10.9%
Q4 2024+22.6%+20.4%+12.3%
Q3 2024-5.3%-7.0%+20.5%
Q2 2024-5.2%-4.8%-3.0%
Q1 2024-12.4%-16.9%-23.2%
Q4 2023-3.1%-4.8%+1.5%
Q3 2023+12.3%+11.1%+9.5%
Q2 2023-8.9%-12.9%-10.8%
Q1 2023+0.8%+0.9%+5.6%
Q4 2022+17.4%+17.0%+18.9%
Q3 2022-12.8%-15.8%-20.3%
Q2 2022-5.1%-5.3%-11.1%
Q1 2022-11.7%-16.6%-11.8%
Q4 2021+17.9%+18.9%+17.4%
Q3 2021+0.1%-2.2%-8.2%
Q2 2021+10.3%+11.1%+6.5%
Q1 2021-2.0%-0.2%+11.9%
Q4 2020+1.3%+2.9%+12.2%
Q3 2020-26.3%-29.9%-33.2%
Q2 2020-3.6%-2.2%-5.4%
Q1 2020-1.3%-2.6%-3.1%
Q4 2019+16.9%+15.5%+17.6%
Q3 2019-4.1%-3.8%-8.7%
Q2 2019+26.1%+22.7%+19.8%
Q1 2019-6.6%-8.9%-12.4%
Q4 2018+7.5%+3.2%+14.1%
Q3 2018+15.6%+17.4%+14.4%
Q2 2018-2.7%+0.2%+10.2%
Q1 2018+13.2%+15.8%+8.8%
Q4 2017-1.1%+1.9%+1.7%
Q3 2017-9.1%-10.6%-9.5%
Q2 2017+17.1%+13.1%+6.6%
Q1 2017-9.5%-11.1%-16.1%
Q4 2016+14.2%+10.6%+12.0%
Q3 2016+6.7%+7.1%+1.6%
Q2 2016+18.4%+22.5%+4.0%
Q1 2016-16.6%
Q4 2015-17.8%
Q3 2015+0.1%
Q2 2015+2.3%
Q1 2015+2.2%
Q4 2014+6.8%
Q3 2014-5.3%
Q2 2014+17.1%
Q1 2014-5.2%
Q4 2013-5.4%
Q3 2013+13.9%
Q2 2013+21.1%
Q1 2013+14.8%
Q4 2012+0.9%
Q3 2012-18.2%
Q2 2012+6.7%
Q1 2012+10.0%
Q4 2011+7.3%
Q3 2011-8.6%
Q2 2011-6.2%
Q1 2010+2.5%
Q1 2011-1.9%
Q2 2010-5.0%
Q4 2008-5.0%
Q4 2010-5.0%
Q4 2009+3.6%
Q3 2010+3.6%
Q3 2009+3.6%

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