CLFD · Clearfield
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New data center orders and customer discussions give Clearfield another source of demand beyond its established broadband business. Management expects broadband recovery to be gradual, so data center growth matters to the case. Q4 sales fell, and higher input costs cut gross profit margin. Still, Clearfield generated about $41 million in free cash flow over 3 years and has no debt, giving it resources to expand. CEO Cheryl Beranek plans to retire in March 2027, and Clearfield says it is preparing a smooth handoff.