Shares of Coherent (COHR 16.21%) are up 16.4% as of 12:15 a.m. ET Tuesday after the optical materials and semiconductor specialist announced better-than-expected quarterly results.Improving demand drove Coherent's better-than-feared quarterFor its fiscal second quarter ended Dec. 31, 2023, Coherent's revenue declined 17.4% year over year to $1.13 billion, translating to adjusted (non-GAAP) earnings of $86.4 million, or $0.36 per share (down from $0.95 per share a year earlier). Analysts, on average, were on ...

1 INVESTOR PRESENTATION February 2024 Copyright 2024, Coherent. All rights reserved. FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements relating to future events and expectations, including our expectations (i) for our future financial and operational results (including expectations for future growth); (ii) regarding capital expenditures and the results of investments in research and design; (iii) regarding growth in the markets we serve including industrial, communications, el ...

Financial Data and Key Metrics Changes - The company reported revenue of $1.131 billion for the quarter, exceeding the midpoint of guidance, with non-GAAP EPS of $0.36, above the high end of guidance [39][41] - Operating cash flow was $67 million, with $91 million invested in capital equipment and $89 million of debt retired [40] Business Line Data and Key Metrics Changes - The company shipped over 100 million in 800G transceivers last quarter, marking a nearly 100% growth quarter-over-quarter [2][39] - It is projected that over 50% of datacom transceiver revenues in fiscal '24 will come from AI-related applications [12][41] Market Data and Key Metrics Changes - The datacom market is expected to grow at a 65% CAGR from calendar '23 to '28, particularly in the 800G and above segment driven by AI [86][94] - The telecom vertical is anticipated to see double-digit growth in the second half of the fiscal year compared to the first half [146] Company Strategy and Development Direction - The company is focused on optimizing production footprint and enhancing operational resiliency while completing the integration of legacy Coherent [38] - There are ongoing efforts to explore strategic opportunities, including smaller acquisitions to unlock shareholder value [114][115] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to stronger growth and enhanced profitability, citing healthy increases in gross and operating margins [34][35] - The macroeconomic environment presents challenges, but the company is taking proactive measures to improve operating efficiency and margin structure [37][39] Other Important Information - The company confirmed long-term supply agreements with Mitsubishi Electric and DENSO Corporation, which invested a total of $1 billion in the silicon carbide business [35] - The company is seeing increased customer engagement in the MicroLED market, with multiple orders received from Asia [55] Q&A Session All Questions and Answers Question: What are you seeing on inventory of 800G or AI transceivers? - Management noted that they shipped over 100 million in 800G transceivers last quarter, with strong growth projected in fiscal '24 [2][12] Question: Can you provide insight on new significant AI-related customers? - Management indicated a broad group of customers is engaged, with ongoing growth in the datacom vertical [12][11] Question: Are supply chain constraints behind you? - Management acknowledged that while constraints have eased, they are still managing several challenges as they ramp up production [20][19] Question: How do you plan to compete in the 800G market? - The company emphasized its vertical integration and control over supply lines, which positions it favorably against competitors [49][50] Question: What is the outlook for 800G transceiver shipments? - Management expects shipments in Q3 to exceed Q2, with a continued upward trend [90][89] Question: Can you elaborate on the strategic opportunities to unlock shareholder value? - Management is considering various alternatives, including smaller transactions to grow shareholder value [114][115]

Stronger-than-expected earnings, fast growth in another unit and a bullish report on a new product powered gains in Coherent Corp.’s stock on Tuesday.Coherent COHR, +12.40% stock was up by 11.9% in regular trading on Tuesday. The stock has risen 27.7% so far in 2024, compared to a 3.8% rise by the Nasdaq COMP. The Santa Clara, Calif.-based optical communications and subsystems company said its latest quarter marked the third straight quarter of strong orders for its datacom transceivers. The company said it ...

Coherent (COHR) reported $1.13 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 17.4%. EPS of $0.36 for the same period compares to $0.95 a year ago.The reported revenue represents a surprise of +1.13% over the Zacks Consensus Estimate of $1.12 billion. With the consensus EPS estimate being $0.23, the EPS surprise was +56.52%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine t ...

PITTSBURGH, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE:COHR), a global leader in materials, networking, and lasers, announced today the financial results for its second quarter of fiscal year 2024. These results have been posted as a letter to shareholders on the Investor Relations section of its website. A conference call to discuss these results with Chair and CEO Dr. Vincent D. (Chuck) Mattera, Jr., and members of the management team will be held on February 6, 2024, at 8:00 a.m. ET. The shar ...

Table of Contents | --- | --- | |------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------| | | | | for the transition period from | to . | | Commission File ________________________________________________________________ | Number: 001-39375 | | COHERENT (Exact name of registrant as ________________________________________________________________ | CORP. specified in its charter) | | Pennsylvania ...

PITTSBURGH, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE:COHR), a leader in industrial lasers for precision manufacturing, today introduced the ExactWeld 410 laser welding system for medical device manufacturing. Medical devices are increasingly relied on to improve patient quality of life and longevity, driving the rapidly growing demand for high-quality and high-reliability precision welding in medical device manufacturing. The ExactWeld 410 from Coherent is a new system that excels at the most ...

PITTSBURGH, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE:COHR), a global leader in engineered materials, has been selected for multimillion-dollar funding under the Department of Energy (DOE) Fiscal Year 2023 Vehicle Technologies Office (VTO) Program Wide Funding Opportunity Announcement (FOA-0002893). This funding will accelerate the development of Coherent's patented chemical immobilization technology for lithium sulfur (Li-S) battery cells to meet next-generation electric vehicle (EV) requireme ...

PITTSBURGH, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE:COHR), a global leader in materials, networking, and lasers, announced today that it will exhibit industry-leading products and capabilities at SPIE Photonics West, Jan. 30-Feb. 1 at the Moscone Center in San Francisco, Booth #4805 (Hall F), and at BiOS Expo Jan. 27-28, part of Photonics West, in Booth #8630 (Hall D). Coherent will showcase its broad portfolio of products and technology innovations that are enabling a wide range of applicati ...