Clearfield (AP7) Q4 2026 Earnings Report

The call was generally positive, driven by strong financial flexibility, advancing BEAD activity, a meaningful data center customer win, a growing pipeline, and fiscal 2027 revenue guidance of $195 million to $205 million. However, the company reported lower quarterly revenue, significant gross margin compression, lower earnings, higher material and labor costs, supply constraints, and near-term margin pressure from the data center ramp. Management remained confident in the long-term growth strategy while acknowledging that recovery and project timing will be gradual and uneven.

For fiscal 27, Clearfield expects annual revenue in the range of 195 million to $205 million, equating to a 30% year-over-year growth at the midpoint, with broadband growth returning to mid to high single digit growth and data center revenue of $40 million, with some wiggle room back and forth; first-quarter net sales are expected in the range of $48 million to $52 million, operating expenses as a percentage of net sales to remain consistent with the fourth quarter of fiscal 26, and net income and loss per share in the range of a loss of $0.06 per share to income of $0.03 per share, while fiscal 27 net income per diluted share is expected in the range of $0.25 to $0.46. Gross margin may be a slight increase over where we finished in Q4, a little bit closer to where we were probably in Q2, with more material improvement in the second quarter onward; the initial $2.02 billion dollar order would be shipped over the first 6 months of the year, and bookings are expected to out strap shipments just a little bit.