Infinera reports preliminary Q4 EPS 7c-13c, consensus 9c

Reports preliminary Q4 revenue $435M-$452M, consensus $437.34M…Infinera CEO David Heard said, “We ended 2023 on a high note with a strong fourth quarter during which the midpoints of our preliminary revenue, gross margin, and earnings per share ranges are all expected to come in above those of our prior outlook ranges. For the full year of 2023, we expect to deliver our sixth consecutive year of revenue growth, expand gross margin to a level approaching 40%, and grow earnings per share on a year-over-year basis.” “As we look ahead, like the rest of the industry, we are expecting a slow first half of the year. Regardless, both the pace and scale of our design wins are accelerating. Already, in the first 60 days of 2024, we have achieved major hyperscale-influenced strategic wins, one of which is among the most significant in the Company’s history, based on our Systems and Subsystems solutions. These strategic wins, combined with our design win funnel, position us well to deliver a stronger second half and place us on a path to achieve our seventh consecutive year of revenue growth with continued margin and earnings per share expansion,” continued Mr. Heard.