2024-04-22 21:58:47 ET
Summary
- Broadband services platform provider Calix, Inc. reported Q1/2024 results in line with management's projections.
- However, the company's guidance came in well below consensus expectations for a second consecutive quarter.
- Particularly, medium-sized and large customers are holding back on appliance purchases.
- Adding insult to injury, government rural broadband access stimulus funding might experience delays, thus also putting 2025 estimates at risk.
- With current headwinds not likely to abate in the near term and valuation still rich, I don't see any reason to own the stock here.
On Monday, Broadband services platform provider Calix, Inc. or "Calix" ( CALX ) reported Q1/2024 results in line with the guidance provided by management in the Q4/2023 stockholder letter :
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Calix: Sell On Weak Outlook Amid Persistent business Headwinds