Wolfspeed reports Q4 adjusted EPS (42c), consensus (20c)

Reports Q4 revenue $235.8M, consensus $222.82M. “We are very pleased with our progress in fiscal 2023 as we secured $5 billion of funding to support our continued capacity expansion plans, initiated construction on our 200mm materials factory in North Carolina, and generated initial revenue from the Mohawk Valley 200mm device fab,” said Wolfspeed CEO, Gregg Lowe. “With approximately $8.3 billion of customer design-ins secured in the last 12 months, customers are continuing to select Wolfspeed for their future silicon carbide device needs, so we must remain keenly focused on scaling our materials and device capacity in fiscal 2024.”