Coherent Q3 revenue $1.24B, GAAP EPS $(0.24); plans restructuring, reviews SiC options

COHERENT CORP.

2023-Q3 EPS reported -$1.38 revenue$3,955,049,000

Revenue $1.24B (+50% YoY, organic +6%); non-GAAP EPS $0.58 vs $0.95 prior year.
GAAP net income $2.5M, diluted EPS $(0.24) due to $0.58 per share adjustments.
Multi-year restructuring: site consolidation, head-count reduction, relocation to lower-cost sites.
Reviewing strategic alternatives for Silicon Carbide Business: minority investment, JV, or sale.
Guidance Q4: rev $1.125-1.175B, non-GAAP EPS $0.33-0.43; FY rev $5.08-5.15B.

item 2.02 item 9.01 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COHERENT CORP. reported fourth fiscal quarter ending June 30, 2023 results: revenue $1,125 million to $1,175 million, EPS $0.33 to $0.43. Guidance reaffirmed.

Period: fourth fiscal quarter ending June 30, 2023
Revenue: $1,125 million to $1,175 million
EPS: $0.33 to $0.43
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The outlook for the fourth fiscal quarter ending June 30, 2023 is revenue of $1,125 million to $1,175 million and earnings per diluted share on a non-GAAP basis of $0.33 to $0.43.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COHERENT CORP. reported fiscal 2023 third quarter ended March 31, 2023 results: revenue $1.24 billion, EPS $(0.24). Guidance reaffirmed.

Period: fiscal 2023 third quarter ended March 31, 2023
Revenue: $1.24 billion
EPS: $(0.24)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Coherent Corp. Reports Fiscal 2023 Third Quarter Results • Revenue of $1.24 billion, Grew 50% Year-Over-Year • Organic Revenue Growth of 6% Year-Over-Year • Backlog of $2.6 billion, Grew 23% Year-Over-Year • Quarterly Operating Cash Flow of $152 million • GAAP EPS of $(0.24) • Non-GAAP EPS of $0.58 • Establishes multi-year restructuring plan

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COHERENT CORP. filing history →

Source: SEC EDGAR

accession 0001193125-23-139932

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