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EarningsQ4 2026 Earnings Report
COHR Q4 2026 EPS Results
Actual EPS$1.74
Consensus EPS$1.62
Beat/MissBeat by +$0.12
One Year Ago EPS$1.00
COHR Q4 2026 Revenue Results
Actual Revenue$2.05B
Expected Revenue$1.98B
Beat/MissBeat by +$60.89M
YoY Revenue Growth+33.75%
Earnings Announcement Details
QuarterQ4 2026
Date08/12/2026
TimeAfter Close
Conference CallWednesday, August 12, 2026
COHR Upcoming Earnings
Coherent Corp's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
COHR Q4 2026 Earnings Call
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Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strongly positive operational and financial picture: record revenue and a record quarter, significant margin and EPS expansion, reduced leverage, large backlog and LTAs, aggressive capacity ramps (notably 6-inch Indium Phosphide), and multiple large incremental TAMs (OCS, CPO/NPO, multi-rail). Near-term challenges and risks include Indium Phosphide being a primary supply constraint until ramps complete, a flat industrial segment, elevated CapEx and absolute operating spend, a sequential cash decline, and external market/regulatory uncertainty (speculative import restrictions and competition). Management provided concrete guidance and timelines for product ramps (CPO revenue expected to begin in the December quarter and scale-up CPO in H2 calendar 2027) and reiterated confidence in margin targets, but some margin upside remains dependent on future ramp execution.Company Guidance
Record Annual and Quarterly Revenue
FY26 revenue of $7.12B (first year >$7B), up 23% YoY (28% pro forma). Q4 revenue of $2.05B (record quarter), up 13% sequentially and 34% YoY (14% sequential and 42% YoY on a pro forma basis).
Strong EPS and Margin Expansion
FY26 non-GAAP EPS grew 59% YoY to $5.61. Q4 non-GAAP EPS was $1.74, up 74% YoY and 23% sequentially. Q4 non-GAAP gross margin 40.2% (up 66 bps Q/Q and 215 bps YoY); FY26 non-GAAP gross margin 39.4% (up 152 bps YoY). Q4 non-GAAP operating margin 21.8% (improved vs prior periods).
Data Center & Communications: Primary Growth Driver
Data center & communications accounted for 79% of Q4 revenue. Segment revenue increased ~40% for the year; Q4 segment revenue growth accelerated (segment: +19% sequential, +59% YoY). Data center revenue rose 41% FY and Q4 data center +24% sequential, +66% YoY.
Robust Demand, Backlog and LTAs
Company reported record bookings and order coverage extending into calendar 2028 with long-term agreements (LTAs) extending through the end of the decade, giving multi-year revenue and pricing visibility.
Capacity Expansion — Indium Phosphide Ramp
On track to double internal Indium Phosphide output year-over-year by the end of the current quarter (one quarter ahead of plan) and to more than double it again by end of calendar 2027. June quarter Indium Phosphide laser production ~80% higher YoY, and 6-inch yields exceed 3-inch yields.
New Growth Platforms and Product Ramps
Multiple new revenue streams expected to ramp: OCS (Optical Circuit Switching) with >$4B TAM estimate, co-packaged optics (CPO) and NPO with >$15B incremental addressable market, multi-rail systems (>$2B TAM by 2030), and thermal/advanced materials. Company expects first $3B+ revenue quarter by end of fiscal 2027.
Improved Financial Position and Capital Allocation
Debt leverage reduced from 2.0x to 0.7x during FY26 after $513M in debt repayments. Year-end cash $2.59B (vs $1.63B a year earlier). Heavy investment in capacity and product roadmap with CapEx supporting ramps; company cites ~18-month payback on data center investments.
COHR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed