Coherent (COHR) Shines with Q2 Earnings Beat, Signals Bullish Outlook for 2024
AInvestMonday, Feb 5, 2024 8:50 pm ET
1min read
COHR --
COHR --

$COHR(COHR)

Coherent (COHR) has defied economic headwinds to report a notable second-quarter performance, ending December 2023, with a slight year-over-year revenue dip to $1.13 billion, yet surpassing the Zacks Consensus Estimate of $1.12 billion. The earnings per share (EPS) settled at $0.36, down from the previous year's $0.95, but significantly ahead of expectations with a +56.52% EPS surprise.

Segment-wise, the Networking division led with $524.20 million in revenue, outperforming analyst predictions of $510.13 million. The Lasers and Materials segments also exceeded forecasts, registering revenues of $353.50 million and $253.70 million, respectively, against estimates.

Despite a revenue decrease, Coherent's EPS outshone projections, highlighting its profit retention capability amidst economic pressures. Looking ahead to the third quarter ending in March, Coherent anticipates EPS between $0.32 and $0.52, aligning closely with a $0.38 consensus. Revenue forecasts range from $1.12 to $1.20 billion, suggesting a steady operational outlook.

Elevating its full-year 2024 guidance, Coherent now expects an EPS between $1.30 and $1.70, an uplift from previous estimates and indicating optimism for robust growth and profitability. Revenue projections for FY24 have been set between $4.55 and $4.70 billion, closely matching analyst expectations.

Coherent's Q2 report not only reflects its enduring strength in a volatile market but also underscores its forward-looking stance, promising continued expansion and shareholder value enhancement. As Coherent navigates through the fiscal year, its upwardly revised guidance and resilient performance position it as a compelling watch for investors tracking its sustained momentum.

COHR shares have marched about 8% higher in thin after hours trade following the earnings release.


Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.