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Oct 01, 2022
Lumentum Q1 2023 Earnings Report
Lumentum's Q1 2023 financial results were announced, with revenue above guidance and EPS at the high end of the range.
Key Takeaways
Lumentum reported a solid start to fiscal year 2023, with revenue exceeding the midpoint of guidance and earnings per share reaching the high end of the guided range. The company's operating margin also surpassed expectations. Demand was strong from Telecom and Industrial Lasers customers. However, supply chain constraints are expected to persist into fiscal 2024, and the near-term outlook for Datacom and 3D sensing is lower than prior projections.
Net revenue for the fiscal first quarter of 2023 was $506.8 million.
GAAP net loss was $0.4 million, or $0.01 loss per diluted share.
Non-GAAP net income was $119.2 million, or $1.69 per diluted share.
The company held $1,624.9 million in total cash, cash equivalents, and short-term investments at the end of the fiscal first quarter of 2023, down $924.1 million from the end of the fiscal fourth quarter of 2022.
Forward Guidance
Lumentum expects net revenue in the range of $490 million to $520 million for the fiscal second quarter 2023. Non-GAAP operating margin is expected to be between 20% and 22%, and non-GAAP diluted earnings per share are projected to be between $1.20 and $1.45.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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