Coherent Corporation Continues Solid Performance in Q3, Setting Stage for High Growth and Success in Q4 and Beyond

Tuesday, 7 May 2024, 18:00
Coherent Corporation reported a 30% increase in laser bookings driven by display business. Orders normalized for 800G transceivers due to improved capacity and material lead times. The pause in networking orders is expected to pick up as focus shifts to AI applications. Coherent's broadening customer base and diverse technology capabilities position it well for 1.6T market. Margins expected to improve with revenue surpassing 1.3 billion, relying on mix and networking segment performance.
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Coherent Corporation Continues Solid Performance in Q3, Setting Stage for High Growth and Success in Q4 and Beyond

Earnings Call Analysis:

Laser Bookings:

  • 30% increase driven by display business

Order Normalization:

  • Lead times improved for 800G transceivers
  • Networking orders paused but expected to pick up with focus on AI
  • Improved capacity and material lead times

Customer Base and Technologies:

  • Broadening customer base for diversified market reach
  • Capable of addressing 1.6T market with VCSEL, EML, and SiPho technologies

Margins and Revenue:

  • Margins poised to improve above 40% with revenue exceeding 1.3 billion
  • Networking segment key to achieving margin targets
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