ADTRAN Holdings, Inc. (ADTN) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the ADTRAN Holdings, Inc. Second Quarter twenty twenty six Earnings Conference Call. Please note that this call is being recorded. After the speakers' remarks, there will be a question and answer Thank you. Now I would like to turn the call over to Tom Stanton, Chairman and CEO of ADTRAN Holdings, Inc. Tom, you may begin. Thank you, operator. Good morning, everyone. Although we are disappointed with the reported results of this past quarter, we believe they were driven by a specific set of factors. As we communicated in our preliminary results press release, a project delay from a single customer combined with unfavorable impacts from product and customer mix caused our results to fall short of our guidance. Despite these factors, demand across our markets our end markets remains healthy. Our strategic priorities remain on track and our customer base continues to diversify. We believe those underlying fundamentals position us well as we look ahead into 2027. As we shared in our pre announcement, one of our customers adjusted the timing of a project, which affected our results for the quarter. This customer remains committed to its deployment objectives and we view this as a timing adjustment rather than a change in demand. Overall customer demand remained strong during the quarter, but a challenging supply environment limited our ability to fulfill that demand, constraining shipments and resulting in an unfavorable mix. To be clear, absent these incremental supply constraints, we would have met our original revenue guidance. Against this backdrop, ADTRAN delivered second quarter revenue of $281,100,000 consistent with our preliminary results and non GAAP operating margin of approximately 3.8%, also in line with our pre announcement. W...