Summary of Conference Call Records Industry Overview - The conference call discusses the optical communication sector, focusing on two companies: Lumentum (LITE) and Coherent (COHR) [1][2]. Key Points from Lumentum (LITE) - **Revenue Growth**: LITE reported a 55.9% year-over-year increase in revenue to USD 480.7 million for 4QFY25, with a turnaround to a GAAP net income of USD 213.3 million from a net loss of USD 252.5 million a year prior [2][4]. - **Future Guidance**: Management provided guidance for 1QFY26E revenue between USD 510 million and USD 540 million, indicating a quarter-over-quarter growth of 6% to 12% and a year-over-year growth of 51% to 60% [2][4]. - **Product Demand**: Strong demand from hyperscale cloud customers is driving growth, particularly in the Cloud and Networking segment, which saw a 67% year-over-year increase [2][4]. - **EML Chip Shipments**: Achieved an all-time high in EML chip shipments, nearly doubling revenue compared to the previous year. Transitioning from 3-inch to 4-inch wafers to increase capacity, with potential future moves to 6-inch wafers [4]. - **Major Orders**: Received a substantial order for 200G EML chips, expected to be fulfilled in the December quarter, with 2026 anticipated as a breakout year for 100G and 200G laser chip shipments [4]. - **OCS Expansion**: Expanding Optical Circuit Switch (OCS) capacity in Thailand, with leadership in optical performance expected to capture demand ahead of competitors [5]. Key Points from Coherent (COHR) - **Revenue Performance**: COHR recorded a 16.4% year-over-year revenue growth in 4QFY25, reaching USD 942 million in the data center and communications segment, which contributed 62% of total revenue [6][7]. - **Guidance Shortfall**: Management's guidance for 1QFY26 revenue between USD 1.46 billion and USD 1.60 billion indicates an 8% to 18.6% year-over-year growth, but this fell short of market expectations [6][7]. - **Transceiver Development**: The company began shipments of its 1.6T transceiver in 4QFY25, with expectations for meaningful revenue contributions in FY26. Development of 3.2T transceiver products is ongoing [7]. - **Divestiture Strategy**: The divestiture of the Aerospace & Defense business for USD 400 million is a strategic move to streamline COHR's portfolio, expected to close in 1QFY26 [7]. Additional Insights - **Market Dynamics**: The strong demand for AI infrastructure from global hyperscale AI and cloud players is expected to support sequential growth for optical transceiver players in China [1]. - **Supply Chain Considerations**: Continued supply tightness of key components, particularly optical chips, may benefit optical chip manufacturers [1]. This summary encapsulates the essential insights from the conference call, highlighting the performance and strategic outlook of Lumentum and Coherent within the optical communication industry.

Core Viewpoint - The global AI infrastructure boom is creating a significant supply-demand imbalance in the optical communication industry, leading to unprecedented profit opportunities for the entire supply chain, particularly benefiting upstream chip manufacturers [3][4]. Group 1: Industry Trends - The optical communication industry is experiencing a structural shortage driven by AI, which is expected to sustain its growth and profitability beyond market expectations [3]. - The demand from global hyperscale AI and cloud service providers is expected to support the continuous growth of Chinese optical transceiver manufacturers [4]. Group 2: Company Performance - Lumentum (LITE) reported impressive results with Q4 FY25 revenue of $480.7 million, a year-on-year increase of 55.9%, and a turnaround from a net loss of $252.5 million to a profit of $213.3 million [5]. - LITE's forward guidance for Q1 FY26 estimates revenue between $510 million and $540 million, representing a quarter-on-quarter growth of 6%-12% and a year-on-year growth of 51%-60% [5]. - Coherent (COHR) showed stable growth, with Q4 FY25 revenue increasing by 16.4% year-on-year, driven by strong performance in the data center segment [7]. Group 3: Chip Supply and Demand - The EML chip supply bottleneck is highlighting opportunities in the industry, with LITE achieving record EML chip shipments and nearly doubling revenue year-on-year [6]. - LITE is transitioning from 3-inch wafers to 4-inch wafers to alleviate chip shortages, with plans to upgrade to 6-inch wafers in the future [6]. - The year 2026 is anticipated to be a breakthrough year for the shipment of 100G and 200G laser chips [7]. Group 4: Data Center Business - The data center and communication business contributed 62% of total revenue, growing 39% year-on-year to $942 million [8]. - The company began shipping 1.6T transceivers in Q2 and expects significant revenue contributions from these products in FY26 [8].

Core Insights - The strong performance of Lumentum (LITE) and Coherent (COHR) in Q2 indicates a significant supply-demand imbalance in the optical communication industry driven by the global AI infrastructure boom [1] - Nomura Securities suggests that the current AI-driven optical communication industry cycle has greater sustainability and growth potential than previously expected, creating unprecedented profit opportunities across the supply chain [1] Company Performance - Lumentum reported Q4 FY25 revenue of $480.7 million, a year-over-year increase of 55.9%, with GAAP net profit turning from a loss of $252.5 million in the same period last year to a profit of $213.3 million [2] - Lumentum's forward guidance for Q1 FY26 estimates revenue between $510 million and $540 million, representing a quarter-over-quarter growth of 6%-12% and a year-over-year growth of 51%-60% [2] - Coherent's Q4 FY25 revenue grew by 16.4% year-over-year, with non-GAAP earnings increasing by 73.6% to $192 million, driven by strong performance in the data center segment [2] Market Dynamics - The EML chip supply bottleneck is creating significant opportunities for the optical communication industry, with Lumentum transitioning from 3-inch wafers to 4-inch wafers to alleviate chip shortages [3] - The data center and communication segments contributed 62% of total revenue, which grew by 39% year-over-year to $942 million [4] - The company began shipping 1.6T transceivers in Q2 and expects meaningful revenue contributions from these products in FY26 [4]

Core Viewpoint - Coherent's stock dropped nearly 20% after the earnings report due to investor concerns over its data communication business share, although most institutions remain optimistic about the company's long-term prospects, maintaining or raising target prices and ratings [1]. Group 1: Financial Performance - Coherent's first-quarter revenue is expected to grow by 15% year-over-year, but this is significantly lower than Lumentum's 6% growth in its network business [1]. - B. Riley reported that the network business revenue increased by 5% quarter-over-quarter to $945 million, with the data communication segment growing by only 3%, down from 11% in the previous quarter [2]. - Stifel predicts that Coherent's adjusted gross margin will reach approximately 40.5% by fiscal year 2027 [3]. Group 2: Analyst Ratings and Target Prices - Needham raised its earnings per share forecast for fiscal year 2026 while lowering revenue expectations, maintaining a "Buy" rating with a target price of $120 [1]. - B. Riley upgraded its target price from $77 to $85 while maintaining a "Neutral" rating [2]. - Stifel raised its target price from $100 to $118, reiterating a "Buy" rating [3]. - Raymond James maintained a "Strong Buy" rating and increased its target price from $120 to $134, citing strong demand trends in data center and data communication interconnects [3]. Group 3: Operational Strategies - Coherent is enhancing its profit margins through cost reduction, sales expansion, and pricing optimization, exemplified by the $400 million sale of its aerospace and defense business to Advent International [2]. - The construction of a 6-inch wafer fab in Sherman, Texas, is expected to further improve profit margins as production begins in August [3].

Part I [Business Overview](index=8&type=section&id=Item%201.%20BUSINESS) Coherent Corp. manufactures lasers, transceivers, and materials for diverse high-tech markets, realigning to two segments in FY2026 - Coherent is a vertically integrated manufacturer of lasers, transceivers, optical devices, and engineered materials for diverse high-tech markets[24](index=24&type=chunk)[26](index=26&type=chunk) - For fiscal year 2025, the company operated with three reporting segments: Networking, Materials, and Lasers. A realignment to two segments, Datacenter and Communications and Industrial, will be effective for fiscal year 2026[27](index=27&type=chunk)[42](index=42&type=chunk)[46](index=46&type=chunk) Employee Distribution as of June 30, 2025 | Department | Number of Employees | Percent of Total | | :--- | :--- | :--- | | Manufacturing | 25,210 | 83% | | Research and development | 2,660 | 9% | | Sales, general and administrative | 2,346 | 8% | | **Total** | **30,216** | **100%** | - The company's primary markets are Communications (driven by AI/ML in datacom), Industrial (precision manufacturing, semiconductor equipment), Instrumentation (life sciences, research), and Electronics (consumer devices, display equipment)[47](index=47&type=chunk)[52](index=52&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk) - In fiscal year 2025, two customers each contributed more than **10%** of the company's total revenue[63](index=63&type=chunk)[95](index=95&type=chunk) Research and Development Expenditures (FY2023-FY2025) | Fiscal Year | R&D Expense (in millions) | | :--- | :--- | | 2025 | $582 | | 2024 | $479 | | 2023 | $500 | [Risk Factors](index=18&type=section&id=Item%201A.%20RISK%20FACTORS) The company faces material risks from customer concentration, supply chain issues, regulatory inquiries, substantial debt, and preferred stockholder influence - A significant portion of revenue comes from a small number of large customers, with two customers each accounting for over **10%** of total revenues in fiscal 2025. The loss or reduction of business from these customers could significantly harm the business[95](index=95&type=chunk) - The company depends on highly complex manufacturing processes and strategic materials from limited or sole-source suppliers, creating risks of disruption and cost increases[104](index=104&type=chunk)[105](index=105&type=chunk)[109](index=109&type=chunk) - In January 2025, the company received an inquiry from the U.S. Bureau of Industry and Security (BIS) concerning past product sales to Huawei. The company has stopped shipments to Huawei and is cooperating with the inquiry, but the outcome and potential penalties are currently unpredictable[115](index=115&type=chunk)[149](index=149&type=chunk)[150](index=150&type=chunk) - The company is undergoing significant restructuring through its 2023 and 2025 Plans, which involve site consolidations, workforce reductions, and other cost-saving measures. These actions carry risks such as higher-than-anticipated costs and operational disruptions[131](index=131&type=chunk)[132](index=132&type=chunk)[133](index=133&type=chunk) - As of June 30, 2025, the company had approximately **$3.7 billion** of outstanding indebtedness. This substantial debt could adversely affect financial condition, limit operational flexibility due to covenants, and make it difficult to fulfill obligations[162](index=162&type=chunk) - Holders of Series B Preferred Stock can exercise significant control, including voting rights on an as-converted basis and consent rights over key corporate actions, which could influence outcomes in a manner that may conflict with common stockholders' interests[187](index=187&type=chunk)[188](index=188&type=chunk)[189](index=189&type=chunk) [Unresolved Staff Comments](index=46&type=section&id=Item%201B.%20UNRESOLVED%20STAFF%20COMMENTS) The company reports no unresolved staff comments from the Securities and Exchange Commission - None[191](index=191&type=chunk) [Cybersecurity](index=46&type=section&id=Item%201C.%20CYBERSECURITY) Coherent's cybersecurity program aligns with NIST-CSF, with Board oversight, and no material incidents reported - The company's cybersecurity program is aligned with the NIST-CSF framework and includes processes for assessing, identifying, and managing material risks from cybersecurity threats[192](index=192&type=chunk) - The Board of Directors administers its cybersecurity risk oversight through the Nominating and Corporate Governance (NCG) Committee, which is briefed quarterly by management[198](index=198&type=chunk)[199](index=199&type=chunk) - The company has not experienced any cybersecurity incidents that have been determined to be material[197](index=197&type=chunk) [Properties](index=47&type=section&id=Item%202.%20PROPERTIES) The company lists principal U.S. and foreign properties supporting manufacturing, R&D, and distribution Principal Properties by Location and Size (Approx. Sq. Footage) | Location | Approximate Square Footage | | :--- | :--- | | **U.S. Properties** | | | Sherman, TX | 700,000 | | Easton, PA | 281,000 | | Saxonburg, PA | 235,000 | | **Foreign Properties** | | | China | 3,310,650 | | Germany | 892,000 | | Malaysia | 889,205 | | Vietnam | 719,000 | [Legal Proceedings](index=47&type=section&id=Item%203.%20LEGAL%20PROCEEDINGS) The company is involved in various legal claims but expects no material impact on its financial condition or operations - Management does not expect ongoing legal proceedings to have a material effect on the company's financial condition or results of operations[202](index=202&type=chunk) [Mine Safety Disclosures](index=47&type=section&id=Item%204.%20MINE%20SAFETY%20DISCLOSURES) This item is not applicable to the company - Not applicable[203](index=203&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=48&type=section&id=Item%205.%20MARKET%20FOR%20REGISTRANT'S%20COMMON%20EQUITY,%20RELATED%20STOCKHOLDER%20MATTERS%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) Coherent's common stock trades on NYSE, with no anticipated common stock dividends, but preferred stock dividends were paid - The company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol "COHR"[205](index=205&type=chunk) - The company does not currently pay cash dividends on its common stock and does not anticipate doing so in the future[205](index=205&type=chunk) - No shares of common stock were repurchased during the fiscal year ended June 30, 2025[208](index=208&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=50&type=section&id=Item%207.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) In fiscal 2025, revenue grew **23%** to **$5.81 billion**, with improved gross margin and a return to net earnings, despite restructuring charges [Trends and Other Matters Affecting our Business](index=50&type=section&id=Trends%20and%20Other%20Matters%20Affecting%20our%20Business) Strong AI datacenter demand drives Communications market growth, while the company executes significant restructuring plans - The company experienced strong demand in its Communications market throughout fiscal 2025, driven by AI datacenter buildouts[215](index=215&type=chunk) - The company is executing multiple restructuring initiatives, including the 2023 Plan and the 2025 Plan, which involve site consolidations and workforce reductions to streamline the business model[217](index=217&type=chunk)[219](index=219&type=chunk) Restructuring and Impairment Charges in Fiscal 2025 | Plan/Action | Charge (in millions) | | :--- | :--- | | 2023 Plan | $53 | | 2025 Plan | $107 | | Synergy and Site Consolidation | $17 | | Impairment of Assets Held-for-Sale | $85 | [Fiscal Year 2025 Compared to Fiscal Year 2024](index=53&type=section&id=Fiscal%20Year%202025%20Compared%20to%20Fiscal%20Year%202024) In FY2025, total revenues increased **23%** to **$5.81 billion**, with gross margin improving to **35%**, and net earnings of **$30 million** Consolidated Financial Highlights (FY2025 vs. FY2024) | Metric | FY 2025 | FY 2024 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $5,810 M | $4,708 M | +23% | | Gross Margin | 35% | 31% | +400 bps | | Net Earnings (Loss) | $30 M | ($159 M) | N/A | | Diluted EPS | ($0.52) | ($1.84) | N/A | - Revenue growth was primarily driven by a **51%** increase in the communications market, fueled by strong AI datacenter demand[237](index=237&type=chunk) Segment Revenue Performance (FY2025 vs. FY2024) | Segment | FY2025 Revenue (M) | FY2024 Revenue (M) | YoY Change | | :--- | :--- | :--- | :--- | | Networking | $3,421 | $2,296 | +49% | | Materials | $954 | $1,017 | -6% | | Lasers | $1,435 | $1,395 | +3% | Segment Profit Performance (FY2025 vs. FY2024) | Segment | FY2025 Profit (M) | FY2024 Profit (M) | YoY Change | | :--- | :--- | :--- | :--- | | Networking | $644 | $354 | +82% | | Materials | $355 | $297 | +19% | | Lasers | $317 | $207 | +53% | [Fiscal Year 2024 Compared to Fiscal Year 2023](index=57&type=section&id=Fiscal%20Year%202024%20Compared%20to%20Fiscal%20Year%202023) In FY2024, total revenues decreased **9%** to **$4.71 billion**, with a net loss of **$159 million** and diluted EPS of **($1.84)** Consolidated Financial Highlights (FY2024 vs. FY2023) | Metric | FY 2024 | FY 2023 | | :--- | :--- | :--- | | Total Revenues | $4,708 M | $5,160 M | | Gross Margin | 31% | 31% | | Net Loss | ($159 M) | ($259 M) | | Diluted EPS | ($1.84) | ($2.93) | - Revenue decreased **9%** in fiscal 2024 compared to fiscal 2023, with declines in all four markets, most notably a **43%** drop in the electronics market due to a design change by a significant customer[256](index=256&type=chunk)[257](index=257&type=chunk) [Liquidity and Capital Resources](index=60&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with **$1.63 billion** in cash and restricted cash, and **$3.69 billion** in total debt Key Liquidity and Debt Metrics (as of June 30, 2025) | Metric | Amount (in millions) | | :--- | :--- | | Cash and cash equivalents | $909 | | Restricted cash | $724 | | Total debt obligations | $3,687 | | Available borrowing capacity | $315 | - Net cash provided by operating activities was **$634 million** for the fiscal year ended June 30, 2025[276](index=276&type=chunk) - In December 2023, the company's subsidiary, Silicon Carbide LLC, received **$1.0 billion** in cash from two investors in exchange for a **25%** equity stake, which will be used to fund capital expansion[287](index=287&type=chunk) - During fiscal 2025, the company made total debt payments of **$433 million**, including **$400 million** in voluntary prepayments on its Term Facilities[284](index=284&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=64&type=section&id=Item%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company is exposed to foreign currency and interest rate risks, pausing its balance sheet hedging program as of September 2024 - The company is exposed to market risks from foreign currency exchange rates and interest rates[294](index=294&type=chunk) - The company paused its balance sheet foreign exchange hedging program indefinitely as of September 30, 2024[294](index=294&type=chunk) - A hypothetical **100 basis point** increase in interest rates on variable-rate borrowings would have resulted in an additional **$30 million** in interest expense for the year ended June 30, 2025, if not for hedging instruments[295](index=295&type=chunk) [Financial Statements and Supplementary Data](index=65&type=section&id=Item%208.%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section presents the audited consolidated financial statements for FY2025, including balance sheets, income statements, and cash flows Consolidated Balance Sheet Summary (as of June 30, 2025) | Category | Amount (in millions) | | :--- | :--- | | **Total Assets** | **$14,910.936** | | Total Current Assets | $3,927.154 | | Goodwill | $4,471.084 | | **Total Liabilities** | **$6,429.653** | | Total Current Liabilities | $1,794.841 | | Long-term debt | $3,498.615 | | **Total Equity** | **$5,998.022** | Consolidated Statement of Earnings Summary (Year Ended June 30, 2025) | Metric | Amount (in millions) | | :--- | :--- | | Revenues | $5,810.115 | | Gross Profit | $2,043.322 | | Earnings Before Income Taxes | $94.181 | | Net Earnings | $30.057 | | Net Loss Available to Common Shareholders | ($80.562) | | Diluted Loss Per Share | ($0.52) | Consolidated Statement of Cash Flows Summary (Year Ended June 30, 2025) | Category | Amount (in millions) | | :--- | :--- | | Net cash provided by operating activities | $633.6 | | Net cash used in investing activities | ($414.215) | | Net cash used in financing activities | ($451.726) | - In the fourth quarter of fiscal 2025, the company classified several entities as held-for-sale and recorded a non-cash impairment charge of **$85 million**. Subsequently, on August 2, 2025, an agreement was reached to sell the aerospace and defense business for **$400 million**[492](index=492&type=chunk)[493](index=493&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=110&type=section&id=Item%209.%20CHANGES%20IN%20AND%20DISAGREEMENTS%20WITH%20ACCOUNTANTS%20ON%20ACCOUNTING%20AND%20FINANCIAL%20DISCLOSURE) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[498](index=498&type=chunk) [Controls and Procedures](index=110&type=section&id=Item%209A.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[499](index=499&type=chunk) - There were no changes in internal control over financial reporting during the most recent quarter that have materially affected, or are reasonably likely to materially affect, internal controls[502](index=502&type=chunk) [Other Information](index=110&type=section&id=Item%209B.%20OTHER%20INFORMATION) This section discloses the termination and adoption of Rule 10b5-1(c) trading plans by CTO Julie Eng in May 2025 - Discloses the termination and adoption of Rule 10b5-1(c) trading plans by CTO Julie Eng in May 2025[503](index=503&type=chunk) Part III [Items 10-14](index=111&type=section&id=Item%2010,%2011,%2012,%2013,%2014) Information for Items 10-14 is incorporated by reference from the forthcoming 2025 Proxy Statement - Information for Items 10 (Directors, Executive Officers), 11 (Executive Compensation), 12 (Security Ownership), 13 (Certain Relationships and Related Transactions), and 14 (Principal Accountant Fees and Services) is incorporated by reference from the forthcoming 2025 Proxy Statement[506](index=506&type=chunk)[511](index=511&type=chunk)[512](index=512&type=chunk)[513](index=513&type=chunk)[514](index=514&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=112&type=section&id=Item%2015.%20EXHIBITS%20AND%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists all financial statements, schedules, and exhibits filed as part of the Form 10-K report - This item lists all financial statements, schedules, and exhibits filed with the Form 10-K, including material contracts and certifications by the CEO and CFO[516](index=516&type=chunk)[518](index=518&type=chunk) [Form 10-K Summary](index=115&type=section&id=Item%2016.%20FORM%2010-K%20SUMMARY) The company indicates that there is no Form 10-K summary - None[523](index=523&type=chunk)

Core Viewpoint - Coherent's recent performance raised concerns due to slowing growth in a key business segment, despite slightly beating analyst estimates for fiscal Q4 2025 [1][3]. Financial Performance - For fiscal Q4 2025, Coherent reported revenue of $1.53 billion, a record high and a 16% increase year over year [3]. - The company's non-GAAP net income grew by nearly 9% to $192 million, equating to $1.00 per share, which also exceeded analyst estimates of $1.51 billion for revenue and $0.92 for adjusted EPS [3]. Growth Drivers - Coherent attributed its revenue improvements to strong performance in areas such as AI data centers [4]. - However, revenue growth in the data center segment showed a decline, dropping to 24% in Q4 from previous rates of 39%, 46%, and 58% in the three preceding quarters [4]. Analyst Sentiment - Analyst Vivek Arya from Bank of America Securities downgraded his recommendation on Coherent's stock from buy to neutral due to the slowing growth in the data center space [5]. Future Guidance - Coherent management provided guidance for the current first quarter, expecting revenue between $1.46 billion and $1.6 billion, and adjusted EPS between $0.93 and $1.13, both significantly above Q4 fiscal 2024 figures [6]. - The average analyst estimates for the current quarter are $1.55 billion for revenue and $1.03 per share for adjusted EPS, which fall within the company's guidance ranges [6].

Core Insights - Coherent Corp. (NYSE: COHR) has experienced a notable decline of 21% in its stock price despite reporting another quarter of double-beat results [1] - The stock is currently priced at $90, reflecting a 17% increase since the initial coverage a year ago and a 2% increase since February [1] Financial Performance - The company has consistently delivered strong financial results, indicated by the term "double-beat quarter," which suggests that it has exceeded both revenue and earnings expectations [1] Market Position - The current stock price movement indicates a disconnect between the company's strong performance and market perception, highlighting potential investment opportunities or market inefficiencies [1]

Group 1 - The average returns from public articles show a significant increase over the years, with 2023 at 8.4%, 2022 at 6.9%, and 2021 at 29.9% [2] - The flagship products include "Top DIY Picks," which focus on undervalued stocks with upcoming catalysts that the market does not expect [2] - "Dividend-income Champs" are highlighted for their long history of dividend growth, accompanied by a printable calendar and quantitative scores [2] Group 2 - "DIY Risky Picks" are designed for speculative allocations, aiming for positive momentum that could lead to triple returns [2]

智通财经APP获悉，周四，Coherent(COHR.US)暴跌超20%，4月以来一度累涨近80%，现报89.79美元。 消息面上，该公司宣布以4亿美元出售航空航天与国防业务，资金用于偿还债务，引发业务调整担忧。 此外，该公司2026财年第一季度营收指引14.6亿至16亿美元，中值15.3亿美元，低于市场预期的15.5亿 美元。 ...

Core Insights - Coherent reported $1.53 billion in revenue for the quarter ended June 2025, a year-over-year increase of 16.4% [1] - The EPS for the same period was $1.00, compared to $0.61 a year ago, indicating significant growth [1] - The revenue exceeded the Zacks Consensus Estimate of $1.51 billion, resulting in a surprise of +1% [1] - The company also delivered an EPS surprise of +7.53%, with the consensus EPS estimate being $0.93 [1] Performance Metrics - Coherent's shares have returned +21.3% over the past month, outperforming the Zacks S&P 500 composite's +3.1% change [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), suggesting potential for further outperformance in the near term [3] Revenue Breakdown - Networking revenues reached $945.2 million, surpassing the four-analyst average estimate of $930.18 million, with a year-over-year change of +39% [4] - Laser revenues were reported at $348 million, slightly below the four-analyst average estimate of $358.41 million, reflecting a year-over-year decline of -2.1% [4] - Materials revenues totaled $236.2 million, exceeding the four-analyst average estimate of $231.23 million, but showing a year-over-year decrease of -15.4% [4]