Coherent earnings date and guidance
Coherent's next results are expected on November 4, 2026. The key thing to watch is whether Coherent doubled internal InP output capacity by quarter-end.
What has Coherent guided for the September quarter?
For the September 2026 quarter, the first quarter of fiscal 2027, Coherent guided revenue of $2,200 million to $2,400 million and non-GAAP EPS of $1.85 to $2.05. Non-GAAP EPS is adjusted accounting profit per share. Coherent removes selected costs, including acquisition-related amortization, stock compensation, restructuring and integration costs, to show ongoing performance. That can aid comparison, but it is not cash.
The margin promise matters because revenue is not profit. A 40% gross margin means that $40 remains from each $100 of sales after making the product, before research, sales, administration, interest and taxes. Coherent says improved manufacturing yields helped its margin, so September must show efficient production as well as higher sales.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue | Quarter to Sep 2026 | 2,200 | 2,400 | Aug 12, 2026 |
| Gross margin percentage (non-GAAP) | Quarter to Sep 2026 | 39.5% | 41.5% | Aug 12, 2026 |
| Total operating expenses (non-GAAP) | Quarter to Sep 2026 | 400 | 420 | Aug 12, 2026 |
| Tax rate (non-GAAP) | Quarter to Sep 2026 | 18.0% | 20.0% | Aug 12, 2026 |
| EPS (non-GAAP) | Quarter to Sep 2026 | 1.85 | 2.05 | Aug 12, 2026 |
Did Coherent keep its past promises?
Cash can tell a different story. Coherent’s fiscal 2024 shareholder-return awards paid 200%, while its operating-cash-flow awards paid zero. Revenue and adjusted EBITDA can rise while factories, equipment, inventory and customer bills consume cash. The company’s non-GAAP gross margin reached 40.2% in the June 2026 quarter, compared with 38.1% a year earlier, but its promised doubling of internal InP output remained unfinished at the reporting date.
How has Coherent's revenue and profit changed in the last eight quarters?
The eight-quarter sequence strengthens the case for a broad operating improvement. Revenue rose in every quarter from September 2024 through June 2026, while gross margin advanced overall. Operating income was less even because charges and disposal gains moved between quarters.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,045,500 | 1,805,641 | 1,685,629 | 1,581,378 | 1,529,400 | 1,497,879 | 1,434,665 | 1,348,135 |
| Gross margin | 38.5% | 37.7% | 36.9% | 36.6% | 35.7% | 35.2% | 35.5% | 34.1% |
| Operating income | 253,900 | 200,837 | 184,003 | 259,074 | 6,100 | 71,751 | 136,866 | 75,198 |
| Net income | 240,500 | 191,402 | 146,717 | 226,349 | -95,600 | 15,711 | 103,385 | 25,887 |
| EPS, diluted | 1.19 | 0.97 | 0.76 | 1.19 | -0.83 | -0.11 | 0.44 | -0.04 |
What this means. The cash flow figures are mostly totals accumulated during the year rather than amounts for just that quarter, so they cannot be compared directly with the quarterly sales and profit figures.
What should Coherent investors watch next?
Coherent is scheduled to report its September-quarter results on November 4, with its call at 4:30 p.m. Eastern. That report will test the revenue, margin and EPS guidance. It should also show whether management achieved its promised doubling of internal InP output capacity by the quarter’s end.