Materials and photonics company Coherent (NYSE: COHR) will be reporting earnings tomorrow after market hours. Here’s what you need to know.
Coherent beat analysts’ revenue expectations by 4.4% last quarter, reporting revenues of $1.43 billion, up 26.8% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ EPS estimates.
Is Coherent a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Coherent’s revenue to grow 19.3% year on year to $1.44 billion, a reversal from the 2.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.86 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Coherent has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.9% on average.
Looking at Coherent’s peers in the electronic components & manufacturing segment, some have already reported their Q1 results, giving us a hint as to what we can expect. TTM Technologies delivered year-on-year revenue growth of 13.8%, beating analysts’ expectations by 4.6%, and Knowles reported a revenue decline of 32.7%, topping estimates by 2.5%. TTM Technologies traded up 16.5% following the results while Knowles was also up 2.6%.
Read our full analysis of TTM Technologies’s results here and Knowles’s results here.
There has been positive sentiment among investors in the electronic components & manufacturing segment, with share prices up 11.2% on average over the last month. Coherent is up 32.5% during the same time and is heading into earnings with an average analyst price target of $95.57 (compared to the current share price of $70).
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