secwatch.observer — SEC 8-K summary
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Issuer:     Lumentum Holdings Inc. (LITE)
CIK:        0001633978
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0001628280-23-010935
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633978/000162828023010935/0001628280-23-010935-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633978/000162828023010935/lite-20230405.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-010935

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