Wolfspeed (WOLF) Tops Q2 EPS by 2c, Offers Guidance

Wolfspeed (NYSE: WOLF) reported Q2 EPS of ($0.16), $0.02 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $173.1 million versus the consensus estimate of $169.3 million.

GUIDANCE:

Wolfspeed sees Q3 2022 EPS of ($0.12)-($0.16), versus the consensus of ($0.17). Wolfspeed sees Q3 2022 revenue of $185-195 million, versus the consensus of $182 million.

• For its third quarter of fiscal 2022, Wolfspeed targets revenue in a range of $185 million to $195 million. GAAP net loss is targeted at $66 million to $71 million, or $0.53 to $0.57 per diluted share. Non-GAAP net loss is targeted to be in a range of $15 million to $20 million, or $0.12 to $0.16 per diluted share. Targeted non-GAAP net loss excludes $51 million of estimated expenses, net of tax, related to stock-based compensation expense, amortization or impairment of acquisition-related intangibles, factory optimization restructuring and start-up costs, interest income from transaction-related note receivable and project, transformation, transaction and transition costs.

For earnings history and earnings-related data on Wolfspeed (WOLF) click here.

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