Materials and photonics company Coherent (NYSE:COHR) will be reporting earnings this Wednesday afternoon. Here’s what you need to know.
Coherent beat analysts’ revenue expectations last quarter, reporting revenues of $2.05 billion, up 33.7% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EPS guidance for next quarter estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is Coherent a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Coherent’s revenue to grow 46.3% year on year, improving from the 17.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Coherent has a history of exceeding Wall Street’s expectations.
Looking at Coherent’s peers in the electronic components & manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Plexus delivered year-on-year revenue growth of 34.8%, beating analysts’ expectations by 4.9%, and Amphenol reported revenues up 65.1%, topping estimates by 7.4%. Plexus traded down 9.6% following the results while Amphenol was up 4.9%.
Read our full analysis of Plexus’s results here and Amphenol’s results here.
Investors in the electronic components & manufacturing segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. Coherent is down 39.7% during the same time and is heading into earnings with an average analyst price target of $387.80 (compared to the current share price of $201.22).
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