Wolfspeed affirms guidance issued on March 7

Wolfspeed (WOLF) reaffirmed its guidance issued on March 7. It sees fiscal 2026 capital expenditures of $150M to $200M, fiscal 2027 capital expenditures of approximately $30M to $50M, adjusted EBITDA break-even point of $800M of annual revenue upon completion of the operational simplifications, additional restructuring actions, including the closure of North Carolina Fab, and other cost reduction initiatives, $200M of unlevered operating cash flow in fiscal 2026 based on targeted fiscal 2026 revenue growth, and positive levered free cash flow in fiscal 2027 following completion of refinancing transactions.