Reports Q3 revenue $216.1M, consensus $218.58M. Scott Hisey, QualTek’s Chief Executive Officer, said "During the third quarter, we continued to experience strong demand for our services and achieved record Telecom revenue, and overall record revenue for the company as a whole. Margins for the quarter were hampered by wage and fuel inflation along with costs associated with our significant ramp, specifically in our Telecom segment. Overall, we’re pleased with our topline growth, and are taking steps to further improve our profitability. To that extent, we are partnering with our customers in adjusting the price, scope, and scale of our delivery options and believe these measures will help us return to our normalized margin levels in 2023 and beyond."
Published first on TheFly
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