Lumentum cuts Q3 revenue guidance to $380-384M; expands buyback to $1.2B

Lumentum Holdings Inc.

2023-Q3 EPS reported -$1.05 revenue$1,396,200,000

Preliminary Q3 rev. ~$380-384M vs prior guidance $430-460M; customer >10% of Q2 rev. suspended shipments.
CEO: customer shortfall primary reason; expects similar Q4 shipments to that customer.
Board increased share repurchase authorization to $1.2B total, extended through May 2025.
As of Apr 1, repurchased $615.5M (7.4M shares) under previous $1B program.
Fiscal Q3 earnings conference call set for May 9, 2023.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Lumentum Holdings Inc. updated its fiscal third quarter ended April 1, 2023 guidance (lowered).

Period: fiscal third quarter ended April 1, 2023
Guidance: lowered
Result: preliminary results

Exact text from the filing

On April 5, 2023, Lumentum Holdings Inc. (the “Company”) issued a press release announcing selected preliminary financial results for its fiscal third quarter ended April 1, 2023.

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Lumentum Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-010935

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