CommScope Holding Company, Inc. (NASDAQ:COMM) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET

Company Participants

Massimo Disabato - Vice President, Investor Relations

Charles Treadway - President and Chief Executive Officer

Kyle Lorentzen - EVP and Chief Financial Officer

Conference Call Participants

George Notter - Jefferies

Meta Marshall - Morgan Stanley

Tal Liani - Bank of America

Matthew Niknam - Deutsche Bank

Shannon Cross - Credit Suisse

Samik Chatterjee - JP Morgan

Operator

Thank you for standing by and welcome to CommScope's Q2 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today's call is being recorded. I would now like to turn the call over to your host, Mr. Massimo Disabato Vice President of Investor Relations. Please go ahead.

Massimo Disabato

Good morning and thank you for joining us today to discuss CommScope's 2023 second quarter results. I'm Massimo Disabato, Vice President of Investor Relations for CommScope and with me on today's call are Chuck Treadway, President and CEO; and Kyle Lorentzen, Executive Vice President and CFO.

You can find the slides that accompany this report on our Investor Relations website. Please note that some of our comments today will contain forward-looking statements based on our current view of our business, and actual future results may differ materially. Please see our recent SEC filings, which identify the principal risks and uncertainties that could affect future performance.

Before I turn the call over to Chuck, I have a few housekeeping items to review. Today, we will discuss certain adjusted or non-GAAP financial measures, which are described in more detail in this morning's earnings materials. Reconciliations of non-GAAP financial measures and other associated disclosures are contained in our earnings materials and posted on our website. All references during today's discussions will be to our adjusted results. All quarterly growth rates described during today's presentation are on a year-over-year basis, unless otherwise noted.

I'll now turn the call over to our President and CEO, Chuck Treadway.

Charles Treadway

Thank you Massimo and good morning everyone. I'll begin on Slide 2. CommScope delivered core net sales of $1.589 billion and core adjusted EBITDA of $263 million for the second quarter of 2023. Our second quarter CCS and OWN was impacted by larger than expected customer inventory corrections, customer CapEx productions and the macro environment.