Earnings Call
Aug 12, 2026
Q2 FY2026
EPS Estimate
1.62
EPS Actual
1.29
Post-Earnings Close
$327.23
Earnings Reaction
-8.0%
Coherent's fiscal Q2 2026 results came in below the elevated expectations the market had priced in ahead of the print. Revenue of $1.69 billion grew 7% sequentially and 17% year over year on a reported basis, or 9% and 22% respectively on a pro forma basis excluding the divested aerospace and defense business, solid growth, but short of the $1.98 billion consensus estimate. Non-GAAP EPS of $1.29 also missed the $1.62 estimate, though it represented 11% sequential and 35% year-over-year improvement. The gap between reported results and Street expectations likely reflects both the elevated share price going into the print and the fact that the prior quarter's $1.81 billion revenue figure had set a high bar. Non-GAAP gross margin came in at 39.0%, up 24 basis points sequentially and 77 basis points year over year, continuing a multi-quarter expansion trajectory that has now added 470 basis points since fiscal 2024.
Report generated on Aug 11, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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