Juniper Networks Slips After Q2 Earnings Miss, Says Profitability To Be Impacted Over Next Few Quarters

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  • Juniper Networks, Inc. JNPR reported second-quarter revenue growth of 8% year-over-year to $1.27 billion, beating the consensus of $1.26 billion.
  • Adjusted EPS of $0.42 missed the consensuses of $0.45.
  • The operating margin grew 8.5% in Q2 compared to7% in 2Q21. The adjusted operating margin was 13.9%, a decrease from 15.8% in 2Q21.
  • JNPR’s cash used in operating activities year-to-date totaled $(73.8) million compared to cash provided of $437 million a year ago.
  • Total cash, cash equivalents, and investments as of June 30, 2022, were $1.29 billion.
  • Dividend: Juniper Networks declared a cash dividend of $0.21 per share to be paid on September 22, 2022, to stockholders of record as of the close of business on September 1, 2022.
  • “We have taken actions to improve delivery of our products to customers. While some of these actions are likely to impact profitability over the next few quarters, they are enabling us to better meet customer demand, which should have positive long-term implications for our business. We remain focused on driving improved profitability and expect margins to improve in 2023,” commented Juniper’s CFO, Ken Miller.
  • 3Q22 Outlook: JNPR expects Revenue of ~$1.35 billion-plus or minus $50 million, vs. consensuses of $1.25 billion. Adjusted gross margin of ~56.5%, plus or minus 1.0%.
  • It expects an adjusted operating margin of ~15.8% at the mid-point of revenue guidance. Adjusted EPS of $0.50, plus or minus $0.05, vs. consensus of $0.46.
  • Price Action: JNPR shares are trading lower by 4.05% at $27 during the post-market session on Tuesday.
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