Overview
Wolfspeed fiscal Q1 revenue rises slightly yr/yr but misses analyst expectations
Company reports significant GAAP loss per share due to Chapter 11 reorganization items
Wolfspeed maintains strong cash position with $926 mln in cash and investments
Outlook
Wolfspeed expects Q2 revenue between $150 mln and $190 mln
Company cites ongoing market softness through fiscal 2026
Wolfspeed will not update long-term guidance until mid-2026
Result Drivers
MOHAWK VALLEY FAB - Contributed $97 mln in revenue, up from $49 mln, indicating increased production capacity
UNDERUTILIZATION COSTS - Impacted gross margins negatively due to $47 mln in costs from Mohawk Valley and Siler City Fabs
CHAPTER 11 IMPACT - GAAP loss per share includes $504 mln of reorganization items related to Chapter 11 cases
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Miss | $196.80 mln | $211.94 mln (1 Analyst) |
Q1 ADJUSTED EPS | -$0.55 | ||
Q1 EPS | -$4.12 | ||
Q1 Net Income | -$643.60 mln | ||
Q1 ADJUSTED GROSS MARGIN | -26% |
Press Release: ID:nBw7HmzcFa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)