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Lumentum Holdings · Optical Networking

Tue, May 5, 2026·After Market Close

LumentumLITEOpticalData CenterAI InfraEarnings

01Wall Street Consensus

EPS$2.27

Revenue$809M

EPS$2.37+4.4%

Revenue$808M-0.1%

After-Hours ReactionAH +1%

Revenue $808M — quarterly record, **+90% YoY**
EPS $2.37 — vs consensus $2.27 (+4.4%), **+316% YoY**
Gross margin 47.9% — vs consensus 45.2% (+270bp), QoQ **+540bp** jump
Operating margin 32.2% — QoQ **+700bp** jump, margin expansion cycle accelerating
Cash + short-term investments $3,172.3M — Series A convertible preferred issuance contributed ~$2B of new cash (March 2026)
Completed an acquisition in March 2026 (terms undisclosed)
Q3 restructuring expense $1.1M (workforce reduction)
Cloud Light escrow payments — $27.5M completed over the nine months ended March 28, 2026
FY26 Q4 revenue guide $960M (consensus $935M big beat, **+100% YoY**)
FY26 Q4 EPS guide $2.85-$3.05 (above $2.74 consensus) / operating margin 35.0-36.0%
Management: 'An exceptional Q3 — record $808M revenue with +90% YoY growth'·'Top-line continues to draw attention, but the more impressive story is margin expansion'·'Gross margin +540bp QoQ, operating margin +700bp QoQ'

Detail

Actual EPS vs Consensus — Green Beat · Red Miss

Beat2

Miss0

Beat rate100%

Detail

Beat2Miss0Beat률 100%

분기별 EPS 컨센서스 대비 서프라이즈(%) — 막대: EPS, 점선: 매출

컨센서스 대비 실제 EPS/매출 서프라이즈 (%)

02Earnings Results

EPS$2.37+4.4%

Revenue$808M-0.1%

After-Hours ReactionAH +1%

Revenue $808M — quarterly record, **+90% YoY**
EPS $2.37 — vs consensus $2.27 (+4.4%), **+316% YoY**
Gross margin 47.9% — vs consensus 45.2% (+270bp), QoQ **+540bp** jump
Operating margin 32.2% — QoQ **+700bp** jump, margin expansion cycle accelerating
Cash + short-term investments $3,172.3M — Series A convertible preferred issuance contributed ~$2B of new cash (March 2026)
Completed an acquisition in March 2026 (terms undisclosed)
Q3 restructuring expense $1.1M (workforce reduction)
Cloud Light escrow payments — $27.5M completed over the nine months ended March 28, 2026
FY26 Q4 revenue guide $960M (consensus $935M big beat, **+100% YoY**)
FY26 Q4 EPS guide $2.85-$3.05 (above $2.74 consensus) / operating margin 35.0-36.0%
Management: 'An exceptional Q3 — record $808M revenue with +90% YoY growth'·'Top-line continues to draw attention, but the more impressive story is margin expansion'·'Gross margin +540bp QoQ, operating margin +700bp QoQ'