Why Clearfield Stock Is Skyrocketing Today

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.
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