Juniper Networks Stock Slides On Mixed Q1 Earnings, In-line Q2 Outlook, Supply Chain Issues

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  • Juniper Networks, Inc. JNPR reported first-quarter revenue growth of 9% year-over-year to $1.17 billion, beating the consensus of $1.16 billion.
  • The operating margin grew to 5% in Q1 from 2.6% last year. The adjusted operating margin was 11.8%, a decrease from 12.1% in 1Q21.
  • Adjusted EPS declined to $0.31 from $0.56 a year ago, missing the consensuses of $0.32.
  • JNPR’s cash provided by operating activities totaled $193.1 million in Q1 vs. $179.8 million a year ago.
  • Total cash, cash equivalents, and investments as of March 31, 2022, were $1.67 billion.
  • Days sales outstanding in accounts receivable was 65 days in the first quarter of 2022, compared to 64 days in 1Q21.
  • Dividend: Juniper Networks declared a cash dividend of $0.21 per share to be paid on June 22, 2022, to stockholders of record as of the close of business on June 1, 2022.
  • Despite persistent supply chain issues, the management states that the company generated solid financial results during Q1. Based on recent momentum, the substantial backlog generated, and efforts to further enhance supply, they are confident of accelerating growth and improving profitability for the whole year.
  • 2Q22 Outlook: JNPR expects Revenue of ~$1.26 billion-plus or minus $50 million, vs. consensuses of $1.25 billion. Adjusted gross margin of ~58.0%, plus or minus 1.0%. Adjusted operating expenses of ~$535 million, plus or minus $5 million.
  • It expects an adjusted operating margin of ~15.4% at the mid-point of revenue guidance. Adjusted EPS of $0.45, plus or minus $0.05, vs. consensus of $0.46.
  • Price Action: JNPR shares are trading lower by 8.26% at $30.75 during the post-market session on Tuesday.
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Posted In: EarningsNewsGuidanceDividendsBriefs
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