10-Q · August 7, 2025
Clearfield reported a modest revenue increase to $49,903 (in thousands) for the quarter ended June 30, 2025, with gross margin expanding to ~30.5% and operating income turning positive at $1,496 (in thousands). GAAP…
Earnings analysis · 10-Q
CLFD earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Clearfield, Inc. reported Q2 2026 net sales of $34.4 million, a decline of 15% year-over-year, coupled with a net loss of $0.04 per share. Despite the decrease in revenue and margins, the company indicated a strong…
Read full summary
Clearfield, Inc. reported Q2 2026 net sales of $34.4 million, a decline of 15% year-over-year, coupled with a net loss of $0.04 per share. Despite the decrease in revenue and margins, the company indicated a strong order backlog worth $31.6 million. Management anticipates total revenue for fiscal 2026 to fall between $160 million and $170 million, aligning with previous guidance, but reflects ongoing challenges in the market.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.04
- Segment
- Broadband Service Providers
- Segment
- International Sales
- Segment
- Legacy Sales
What stood out
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Revenue Exceeds Estimates
Actual revenue of $34.4 million surpassed estimates of $33.6 million, indicating a 2.4% revenue surprise.
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Significant Order Backlog Growth
Order backlog as of March 31, 2026, increased by 39% to $31.6 million compared to $22.8 million in December 2025.
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Operating Margin Retention
Despite revenue decline, operating margin showed retention at 3.0% compared to 0.6% in the previous quarter.
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International Sales Up
International sales doubled to $2.4 million, or 4% of total sales, from $1.1 million in the prior year.
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Decreased Production Costs
Cost of sales decreased by 13% year-over-year, due to optimized inventory consumption.
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Improved Tax Benefits
Income tax benefit rose to $176,000 in Q2 2026 from expense of $722,000 in Q2 2025.
What to watch
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Escalating Operating Losses
Loss from continuing operations climbed to $3.9 million for six months ended Mar 2026 from a loss of $364,000 a year earlier.
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Declining Revenue from Key Segments
Year-over-year revenue from MSOs fell by 38% to $16.5 million, impacting sales negatively.
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High SG&A Expense Growth
Selling, general and administrative expenses rose by 15% to $26.4 million versus $23 million in the prior year's six-month period.
Management's outlook
Fiscal guidance for revenue remains unchanged at $160 million to $170 million.
Earlier filings 4
10-Q · February 7, 2023
Clearfield reported strong top-line and EPS versus the prior-year quarter with net sales of $85,942 (thousands) and diluted EPS of $1.00 for the three months ended December 31, 2022, driven by the integration of the…
10-K · November 23, 2022
Clearfield completed the strategic acquisition of Nestor Cables on July 26, 2022, creating a second reportable segment and materially increasing backlog to $164,914,000 (from $66,365,000 in 2021). The company emphasizes…
10-Q · August 3, 2022
Clearfield reported a strong quarter with net sales of $71,250,000 (up from $38,735,000 a year ago, +$32,515,000) and diluted EPS of $0.92 (vs $0.44 prior year). Gross margin contracted slightly to 41.1% while operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.