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- Juniper Networks (JNPR -0.5%) shares fall 1.71% AH after the company reports revenue and earnings below consensus.
- “Our teams executed extremely well despite the challenging supply chain environment and demonstrated strong financial management during the September quarter,” said Juniper’s CFO, Ken Miller. “Our strong order momentum, record backlog, and actions to strengthen our supply chain provide confidence in our future growth prospects and our ability to deliver improved profitability in 2022 and beyond.”
- Net revenues grew slightly sequentially, up 1% from Q2 2021, while adjusted operating margin also increased to 16.6% compared to 15.8% last quarter. Adjusted operating margin is still below 2020 levels of 17.1%.
- Revenue breakout: Product, $771.9M (up 5.2%); Service, $416.9M (up 3.1%)
- Liquidity was $1.84B on September 30, compared to $2.56B a year ago and $1.82B last quarter. Net cash from operations was $136.7M, vs. a year-ago $116.4M and $257.2M in the second quarter.
- For Q4 2021, Juniper Networks guides revenue and EPS roughy in-line with guidance. Gross margin is expected to fall due to higher costs related to supply constraints and product mix. Read the full guidance here.