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The company’s fourth-quarter fiscal 2023 revenues are expected to be between $212 million and $232 million. It expects low single-digit revenues from Mohawk Valley.
Loss is anticipated to be 17-23 cents per share.
The Zacks Consensus Estimate for revenues is pegged at $223.36 million, suggesting a decrease of 2.25% from the year-ago quarter’s reported number.
The consensus mark for fourth-quarter fiscal 2023 loss is pegged at 20 cents per share. Wolfspeed reported a loss of 2 cents per share in the year-ago quarter.
The company beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average surprise being 33.69%.
Let’s see how things have shaped up for Wolfspeed prior to this announcement.
Factors to Note
Wolfspeed has been benefiting from a strong pipeline of design-ins across a wide range of applications, including automotive, industrial and energy end markets in the quarter under review.
Further, strong demand for merchant and captive materials is likely to have favored the company in the to-be-reported quarter.
Moreover, Wolfspeed’s top-line growth is expected to have benefited from strong power devices and material product lines. Ramping up the Mohawk Valley facility is expected to boost top-line growth and save costs. Mohawk Valley’s scale, automation and wafer size advantages are anticipated to lower overall die costs by more than 50%.
However, Wolfspeed has been suffering from weak demand for RF products and a challenging macroeconomic environment.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Wolfspeed currently has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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Wolfspeed (WOLF) to Report Q4 Earnings: What's in Store?
Wolfspeed (WOLF - Free Report) is scheduled to report fourth-quarter fiscal 2023 results on Aug 16.
The company’s fourth-quarter fiscal 2023 revenues are expected to be between $212 million and $232 million. It expects low single-digit revenues from Mohawk Valley.
Loss is anticipated to be 17-23 cents per share.
The Zacks Consensus Estimate for revenues is pegged at $223.36 million, suggesting a decrease of 2.25% from the year-ago quarter’s reported number.
The consensus mark for fourth-quarter fiscal 2023 loss is pegged at 20 cents per share. Wolfspeed reported a loss of 2 cents per share in the year-ago quarter.
The company beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average surprise being 33.69%.
Wolfspeed Price and EPS Surprise
Wolfspeed price-eps-surprise | Wolfspeed Quote
Let’s see how things have shaped up for Wolfspeed prior to this announcement.
Factors to Note
Wolfspeed has been benefiting from a strong pipeline of design-ins across a wide range of applications, including automotive, industrial and energy end markets in the quarter under review.
Further, strong demand for merchant and captive materials is likely to have favored the company in the to-be-reported quarter.
Moreover, Wolfspeed’s top-line growth is expected to have benefited from strong power devices and material product lines. Ramping up the Mohawk Valley facility is expected to boost top-line growth and save costs. Mohawk Valley’s scale, automation and wafer size advantages are anticipated to lower overall die costs by more than 50%.
However, Wolfspeed has been suffering from weak demand for RF products and a challenging macroeconomic environment.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Wolfspeed currently has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
NVIDIA (NVDA - Free Report) has an Earnings ESP of +5.56% and a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA shares have jumped 199.4% in the year-to-date period. NVDA is set to report its second-quarter fiscal 2024 results on Aug 23.
Workday (WDAY - Free Report) has an Earnings ESP of +2.01% and a Zacks Rank #1.
Workday shares have gained 36.3% year to date. WDAY is set to report its second-quarter fiscal 2024 results on Aug 24.
Bilibili (BILI - Free Report) has an Earnings ESP of +2.44% and a Zacks Rank #3.
Bilibili shares have declined 30.8% year to date. BILI is set to report its second-quarter 2023 results on Aug 17.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.