Wolfspeed reports Q1 adjusted EPS (55c) vs. (91c) last year.

Reports Q1 revenue $197M vs. $195M last year. “In my first months as CEO, I’ve been deeply impressed by the resilience and focus of the Wolfspeed (WOLF) team. Through our restructuring, we’ve strengthened the foundation of the company, emerging as a leaner organization with a focus on product innovation and market leadership,” said Wolfspeed CEO Robert Feurle. On September 29, 2025, Wolfspeed emerged from Chapter 11. The Company was able to maintain payments to its vendors, continue serving customers, and operate business as usual throughout the entirety of the restructuring process. As of the end of the first quarter of fiscal 2026, Wolfspeed had $926 million of cash, cash equivalents and short-term investments on its balance sheet, providing runway and financial flexibility to execute on its self-funded business plan post-emergence. The first quarter results do not reflect the previously announced emergence from Chapter 11 and recapitalization on September 29, 2025, which occurred in the second quarter of fiscal 2026. Wolfspeed currently expects to qualify for fresh-start accounting as a result of its emergence from Chapter 11, in accordance with U.S. GAAP. As a result, Wolfspeed will allocate the reorganization value of the Company to its individual assets, including property, plant and equipment, based on their estimated fair values. Although the Company has not completed its fresh-start accounting procedures and is unable to confirm the impact that emergence from Chapter 11 will have on its financial condition and results of operations, it expects to record material adjustments related to its Plan of Reorganization and the application of fresh-start accounting during the second quarter of fiscal 2026.