Why Clearfield Stock Is Skyrocketing Today

  • Clearfield, Inc CLFD reported fourth-quarter net sales growth of 110% year-on-year to $95 million, beating the consensus of $71.4 million.
  • Clearfield's organic revenue grew to $88 million, representing an increase of 94%, while Nestor Cables generated $7 million in revenue . 
  • EPS of $1.22 beat the consensus of $0.86.
  • "As reflected in its record financial performance in the fiscal fourth quarter, Clearfield continues to convincingly execute on its strategic growth plan to capitalize on the market demand for fiber-fed broadband," said CEO Cheri Beranek.
  • "Our backlog currently stands at an unprecedented $165 million, including $4 million from Nestor Cables, with roughly two-thirds of that total scheduled for customer deployments in the next two quarters."
  • Clearfield sees FY23 net sales of $380 million - $393 million, above the consensus of $299.5 million.
  • Price Action: CLFD shares traded higher by 25.98% at $117.25 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapMoversTechTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!