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Non-Tech : Kirk's Market Thoughts
COHR 183.14+2.7%11:31 AM EST
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From: Kirk ©8/16/2023 2:09:47 AM
2 Recommendations

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Area51
berniel

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Good earnings but lowered outlook.

Coherent beats Q4 top and bottom line estimates; sees Q1 and FY24 outlook below estimates
Aug. 16, 2023 12:50 AM ET
Coherent Corp. (COHR)By: Meghavi Singh, SA News Editor
  • Coherent press release (NYSE:COHR): Q4 Non-GAAP EPS of $0.41 beats by $0.03.
  • Revenue of $1.21B (+36.4% Y/Y) beats by $60M.
  • Shares -16.02% after-hours.

  • Operating Cash Flow $182 million, which increased from both the year-ago and the preceding quarter.
  • "Our guidance for our first quarter of fiscal 2024 ending September 30, 2023 is as follows: Revenue of approximately $1.0 – 1.1 billion vs. consensus of $1.17B; Non-GAAP earnings per share of approximately $0.05 - $0.20 vs. consensus of $0.45; Share count for the entire guidance range is 153 million. Pretax amounts of Non-GAAP adjustments in the first quarter of fiscal 2024 include stock compensation of $42 million, amortization of $71 million, and $10 – 15 million on restructuring, synergies, and consolidation. "

  • "Our guidance for fiscal 2024 ending June 30, 2024 is as follows: Revenue of approximately $4.5 – 4.7 billion vs. consensus of $5.10B; Non-GAAP earnings per share of approximately $1.00 - $1.50 vs. consensus of $2.95; Share count for the entire guidance range is 153 million; Not included in our full year fiscal 2024 revenue guidance is several hundred million dollars of additional revenue related to the recent surge in demand for Datacom transceivers for AI driven data center buildouts as the supply chain ramps incremental capacity to address industry demand."
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