Lumentum Q3 FY2022 revenue $395.4M, GAAP EPS $0.35; issues optimistic Q4 guidance

Lumentum Holdings Inc.

2022-Q3 EPS reported $2.19 revenue$1,290,500,000

Revenue $395.4M, down 11.5% Q/Q and 5.7% Y/Y; GAAP EPS $0.35, non-GAAP EPS $1.19.
GAAP gross margin 42.3%, down 420bps Q/Q and 180bps Y/Y; non-GAAP gross margin 49.5%.
Optical Communications revenue $344.2M (-13.4% Q/Q); Lasers revenue $51.2M (+62% Y/Y).
Issued $861M of 0.50% Convertible Notes due 2028; used $200M to repurchase 2.0M shares.
CEO expects demand to outpace supply by >$100M in Q4; Q4 revenue to increase; double-digit growth in FY2023.

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