Cree (CREE) Tops Q3 EPS by 1c

Cree (NASDAQ: CREE) reported Q3 EPS of ($0.22), $0.01 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $137.3 million versus the consensus estimate of $130.21 million.

“We are building solid momentum and during our fiscal third quarter we continued to execute and drive our strategy, delivering strong top line performance as customers continue to realize the benefits of silicon carbide,” said Cree CEO, Gregg Lowe. “With the sale of our LED business now complete, we accomplished a critical milestone in our journey to becoming a pure-play semiconductor powerhouse and have an even greater focus on converting opportunities in our pipeline and expanding our manufacturing capacity.\"

GUIDANCE:

Cree sees Q4 2021 EPS of ($0.22)-($0.26), versus the consensus of ($0.21). Cree sees Q4 2021 revenue of $142-148 million, versus the consensus of $138.64 million.

For earnings history and earnings-related data on Cree (CREE) click here.

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