Harmonic (NASDAQ:HLIT) Releases FY 2026 Earnings Guidance

Key Points

• Harmonic raised its FY 2026 outlook, forecasting EPS of $0.80–$0.84 versus the $0.50 consensus and revenue of $545–$555 million versus the $517 million estimate. Q4 EPS guidance was set at $0.19–$0.23.
• The company’s latest quarter exceeded expectations, with revenue rising 64.5% year over year to $148.84 million and EPS reaching $0.23 versus the $0.17 consensus.
• Despite strong growth and analyst price targets averaging $17.50, shares fell 0.4% to $10.19, while Harmonic remains unprofitable on a GAAP net-margin basis and carries a consensus “Hold” rating.

Harmonic (NASDAQ:HLIT - Get Free Report) updated its FY 2026 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.800-0.840 for the period, compared to the consensus estimate of 0.500. The company issued revenue guidance of $545.0 million-$555.0 million, compared to the consensus revenue estimate of $517.0 million. Harmonic also updated its Q4 2026 guidance to 0.190-0.230 EPS.

Harmonic Trading Down 0.4%

Shares of HLIT stock opened at $10.19 on Tuesday. The stock has a 50-day simple moving average of $11.12 and a 200 day simple moving average of $11.57. The stock has a market capitalization of $1.11 billion, a P/E ratio of -24.26 and a beta of 1.34. Harmonic has a fifty-two week low of $8.47 and a fifty-two week high of $17.68. The company has a quick ratio of 2.56, a current ratio of 3.05 and a debt-to-equity ratio of 0.30.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its earnings results on Monday, November 2nd. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%. The company had revenue of $148.84 million for the quarter, compared to analyst estimates of $129.47 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Harmonic's revenue for the quarter was up 64.5% compared to the same quarter last year. On average, sell-side analysts expect that Harmonic will post 0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HLIT. Northland Securities set a $17.00 price target on shares of Harmonic in a research report on Thursday, August 13th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price objective on shares of Harmonic in a research report on Thursday, October 29th. Raymond James Financial reiterated an "outperform" rating and set a $19.00 price objective on shares of Harmonic in a research report on Thursday, August 13th. Needham & Company LLC reissued a "buy" rating on shares of Harmonic in a research note on Thursday, August 13th. Finally, Wall Street Zen lowered Harmonic from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $17.50.

Harmonic News Roundup

Here are the key news stories impacting Harmonic this week:

• Positive Sentiment: Third-quarter revenue surged 64% year over year to a record $148.8 million, exceeding the high end of management’s guidance and the $129.47 million analyst consensus. EPS was $0.23, versus expectations of $0.17 and $0.12 a year earlier. Harmonic Announces Third Quarter 2026 Results
• Positive Sentiment: Harmonic raised its full-year 2026 revenue outlook to $545 million-$555 million, its third guidance increase, reinforcing the company’s growth momentum. Management also updated full-year earnings guidance and issued fourth-quarter dividend guidance. Harmonic Provides Dividend and Earnings Guidance
• Positive Sentiment: Rest-of-Market revenue more than doubled year over year and reached a record 46% of total revenue, suggesting progress in diversifying beyond the company’s traditional business. Harmonic Q3 2026 Earnings Call Highlights
• Neutral Sentiment: The earnings call emphasized the next test for the investment case: whether strong revenue converts into sustained bookings and improved cash flow. Investors may seek evidence that the raised outlook is supported by durable demand rather than project timing. Harmonic’s Breakout Quarter and Guidance Raise
• Negative Sentiment: Despite the earnings beat, Harmonic remains unprofitable on a GAAP net-margin basis, which may limit enthusiasm until the company demonstrates stronger bottom-line and cash-flow performance.

Harmonic Company Profile

Harmonic Inc NASDAQ: HLIT develops broadband access and video-delivery technologies for communications service providers, content providers and broadcasters. Its solutions help operators deliver high-speed internet, television and streaming services across cable, fiber and other network infrastructures.

The company's broadband portfolio includes its CableOS platform, a software-based solution designed to support virtualized broadband access networks, along with technologies for DOCSIS, fiber and hybrid fiber-coaxial networks.

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