Coherent Corp (COHR) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 13, 2026

Before Open (Confirmed)

Period Ending

2026 (Q3)

Consensus EPS Forecast

1.39

Last Year’s EPS

0.91

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 13 Analysts Ratings

Earnings Call Summary

Q2 2026

Earnings Call Date:Feb 04, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call communicated strong demand, record revenue, robust segment growth (especially data center and communications), accelerating bookings (book-to-bill >4x), meaningful design wins (CPO/OCS), and a rapid six-inch indium phosphide ramp that should be margin accretive. Offsetting risks include persistent industry indium phosphide tightness, elevated external input costs, ongoing high CapEx and OpEx to scale capacity, and a still-soft broader industrial segment. Overall, the positives — large, visible demand and execution on capacity and margin levers — outweigh the operational and market headwinds.

Company Guidance

Coherent’s formal Q3 guidance called for revenue of $1.70–$1.84 billion, non‑GAAP gross margin of 38.5%–40.5%, non‑GAAP operating expenses of $320–$340 million, a non‑GAAP tax rate of 18%–20%, and non‑GAAP EPS of $1.28–$1.48; management said capex will increase sequentially (Q2 capex was $154 million) and that net debt leverage is ~1.7x (below 2.0x). Management also reiterated expectations for continued strong sequential revenue growth in the March and June quarters (double‑digit sequential growth in Data Center), fiscal 2027 revenue growth to exceed fiscal 2026, EPS growth meaningfully faster than revenue growth, and a long‑term gross margin target >42% (Q2 non‑GAAP gross margin was 39%). Key operating metrics supporting the outlook included Q2 record revenue of $1.69 billion (+7% sequential, +17% YoY reported; +9% seq, +22% YoY pro forma), Data Center & Communications >70% of revenue, book‑to‑bill >4x, indium phosphide wafer‑starts at ~80% of the target to double six‑inch capacity by year‑end (six‑inch yields exceed three‑inch and produce >4× chips at <50% cost), OCS backlog and >10 customer engagements with a >$2 billion addressable market, and the Munich divestiture (~$25M average quarterly revenue over the past four quarters) which reduces ~425 employees.

Record Quarterly Revenue

Q2 revenue was a record $1.69 billion, up 7% sequentially and 17% year-over-year (pro forma: +9% sequential, +22% YoY excluding the divested aerospace & defense business). Guidance for Q3 revenue: $1.7B–$1.84B.

Very Strong Data Center & Communications Growth

Data center & communications now account for >70% of revenue. Q2 segment revenue rose 11% sequentially and 34% YoY; data center revenue specifically grew 14% sequentially and 36% YoY, driven by 800G and 1.6T transceivers and strong bookings.

Significant Bookings and Visibility

Data center bookings produced a book-to-bill ratio exceeding 4x; many customer orders booked into calendar 2027 with multi-year forecasts extending into 2028, providing strong revenue visibility.

Gross Margin and EPS Expansion

Q2 non-GAAP gross margin was 39.0%, up 24 basis points sequentially and 77 basis points YoY. Non-GAAP EPS was $1.29, up 11% sequentially and 35% YoY. Non-GAAP operating margin rose to 19.9% (from 19.5% prior quarter).

Rapid Six-Inch Indium Phosphide Ramp

On track to double internal indium phosphide capacity by calendar Q4; current wafer starts are ~80% of that doubling target. Six-inch wafers produce >4x chips versus three-inch at <50% cost, with six-inch yields exceeding three-inch yields — expected to be a material gross-margin driver.

CPO and OCS Design Wins and Backlog

Secured a large CPO purchase order from a leading AI data center customer (initial revenue expected late calendar year, meaningful contribution next year). OCS backlog grew sequentially, with >10 customer engagements and shipments/backlog across 64x64 and 320x320 system sizes; OCS revenue expected to grow sequentially and ramp through the year.

Communications Market Strength and Design Wins

Communications revenue grew 9% sequentially and 44% YoY, driven by DCI and telecom recovery. Notable multiyear design win with a leading DCI OEM for an uncooled three-pin micropump solution.

Balance Sheet and Portfolio Optimization

Debt leverage ratio improved to 1.7x (from 2.3x YoY). Completed sale of Munich product division (avg quarterly revenue ~$25M, lower-margin) — sale expected to be immediately accretive to gross margin and EPS and reduces ~425 employees. Exited 10 sites this quarter (33 sites exited/sold over ~6 quarters).

Investing to Meet Demand (CapEx and Capacity Expansion)

Q2 capital expenditures were $154M (vs $104M prior quarter). Investing in expanded assembly/test capacity in Malaysia and Vietnam and additional indium phosphide production sites (Sherman, TX and Yarfala, Sweden); CapEx expected to increase sequentially to support demand.

Coherent Corp (COHR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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COHR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2026	2026 (Q3)	1.39 / -	0.91	―	―	―
Feb 04, 2026	2026 (Q2)	1.21 / 1.29	0.95	35.79% (+0.34)
Nov 05, 2025	2026 (Q1)	1.04 / 1.16	0.74	56.76% (+0.42)
Aug 13, 2025	2025 (Q4)	0.92 / 1.00	0.61	63.93% (+0.39)
May 07, 2025	2025 (Q3)	0.86 / 0.91	0.53	71.70% (+0.38)
Feb 05, 2025	2025 (Q2)	0.69 / 0.95	0.36	163.89% (+0.59)
Nov 06, 2024	2025 (Q1)	0.61 / 0.74	0.16	362.50% (+0.58)
Aug 15, 2024	2024 (Q4)	0.60 / 0.61	0.41	48.78% (+0.20)
May 06, 2024	2024 (Q3)	0.43 / 0.53	0.58	-8.62% (-0.05)
Feb 05, 2024	2024 (Q2)	0.26 / 0.36	0.95	-62.11% (-0.59)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

COHR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 04, 2026	$211.00	$209.24	-0.83%
Nov 05, 2025	$134.63	$159.30	+18.32%
Aug 13, 2025	$114.01	$91.65	-19.61%
May 07, 2025	$69.62	$70.59	+1.39%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.