Coherent Inc. shares rose sharply on Friday after the laser and photonics technology company reported quarterly results that exceeded market expectations and raised its full-year guidance.
The company posted adjusted earnings of $2.12 per share for the quarter ended March 31, up from $1.85 in the same period last year, while revenue increased 12% to $1.45 billion. Analysts polled by Refinitiv had expected earnings of $1.98 per share and revenue of $1.38 billion.
Coherent also raised its full-year revenue guidance to a range of $5.8 billion to $6.0 billion, up from its prior forecast of $5.5 billion to $5.8 billion. The company cited strong demand across its semiconductor, industrial and life sciences segments as the primary driver of the upward revision.
Shares of Coherent gained as much as 8% in premarket trading following the results, extending gains from Thursday’s close. The stock has climbed roughly 15% over the past month, outperforming the broader S&P 500 index during the same period.
Analysts at Jefferies maintained a buy rating on the stock, noting that Coherent’s diversified end-markets and strong order backlog position it well for sustained growth. The company is scheduled to hold an investor call later today to discuss the results in further detail.
The rally reflects growing investor confidence in Coherent’s ability to navigate supply chain challenges and capitalize on rising demand for laser-based technologies in manufacturing and medical applications.
