Coherent Corp. (COHR) recently announced its financial results with notable improvements from the previous year. In the first quarter, the company reported earnings of $26 million, a significant turnaround from a loss of $68 million during the same period last year. The earnings per share (EPS) improved to -$0.04 compared to -$0.65 last year. After adjusting for certain items, Coherent Corp. delivered an adjusted profit of $150 million, or $0.74 per share for this quarter.
Market analysts had projected earnings of $0.61 per share. In terms of revenue, Coherent Corp. achieved $1.348 billion in the first quarter, marking an increase from the $1.053 billion recorded in the prior year.
Looking ahead, the company’s guidance for the next quarter anticipates earnings per share to range between $0.61 and $0.77. Revenue forecasts for the upcoming quarter are expected to be between $1.33 billion and $1.41 billion.
