NASDAQ$WOLF
Wolfspeed Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported a year-over-year quarterly revenue growth with significant design-ins and design-wins, and remained on track to meet its utilization goal at the Mohawk Valley Fab.
Wolfspeed reported a 4 percent year-over-year increase in quarterly revenue, driven by device design-ins of $2.2 billion and a record of over $1 billion in device design-wins. The company is on track to meet its 20 percent utilization goal at the Mohawk Valley Fab in the fourth quarter of fiscal 2024.
- Consolidated revenue reached $197.4 million, compared to $189.4 million in the prior year.
- Mohawk Valley Fab contributed $4.0 million in revenue.
- Device design-ins totaled $2.2 billion, with a quarterly record of over $1 billion in device design-wins.
- GAAP gross margin was 12.5%, compared to 35.7% in the prior year, impacted by underutilization costs.
Headline financials
Revenue & EPS history
Wolfspeed · Revenue · Quarterly
$197M
Revenue by segment
Wolfspeed · $197M total across 2 segments · Q1 2024
- Power Products$101M—51.3%
- Materials Products$96.2M—48.7%
Forward guidance
For its second quarter of fiscal 2024, Wolfspeed targets revenue from continuing operations in a range of $192 million to $222 million. GAAP net loss from continuing operations is targeted at $131 million to $153 million, or $1.04 to $1.22 per diluted share. Non-GAAP net loss from continuing operations is targeted to be in a range of $71 million to $88 million, or $0.56 to $0.70 per diluted share.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 2 quarterly earnings reports
-2.8%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+21.6%
Avg return
30 days after
41%
28 / 68 earnings
Positive
+29.7%
Q1 2022
Best reaction
-35.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +3.2% | +38.6% | — | |
| Q2 2026 | -9.7% | -8.1% | -3.7% | |
| Q1 2026 | -7.9% | -14.1% | +9.0% | |
| Q4 2025 | +0.0% | -5.8% | +59.4% | |
| Q3 2025 | -26.2% | — | — | |
| Q2 2025 | +1.5% | — | — | |
| Q1 2025 | -35.3% | — | — | |
| Q4 2024 | -2.6% | — | — | |
| Q3 2024 | -12.8% | — | — | |
| Q2 2024 | -17.2% | — | — | |
| Q1 2024 | +17.9% | — | — | |
| Q4 2023 | -19.0% | — | — | |
| Q3 2023 | -18.3% | — | — | |
| Q2 2023 | -5.5% | — | — | |
| Q1 2023 | -17.2% | — | — | |
| Q4 2022 | +27.5% | — | — | |
| Q3 2022 | -9.6% | — | — | |
| Q2 2022 | +0.6% | — | — | |
| Q1 2022 | +29.7% | — | — | |
| Q4 2021 | -10.4% | — | — | |
| Q3 2021 | -15.5% | — | — | |
| Q2 2021 | -1.8% | — | — | |
| Q1 2021 | -7.0% | — | — | |
| Q4 2020 | -12.5% | — | — | |
| Q3 2020 | +4.1% | — | — | |
| Q2 2020 | -10.5% | — | — | |
| Q1 2020 | -1.2% | — | — | |
| Q4 2019 | -15.9% | — | — | |
| Q3 2019 | +0.2% | — | — | |
| Q2 2019 | +5.0% | — | — | |
| Q1 2019 | +12.7% | — | — | |
| Q4 2018 | -8.0% | — | — | |
| Q3 2018 | -2.8% | — | — | |
| Q2 2018 | -1.9% | — | — | |
| Q1 2018 | +16.7% | — | — | |
| Q4 2017 | -1.6% | — | — | |
| Q3 2017 | -10.8% | — | — | |
| Q2 2017 | +4.9% | — | — | |
| Q1 2017 | -9.6% | — | — | |
| Q4 2016 | -16.6% | — | — | |
| Q3 2016 | +7.5% | — | — | |
| Q2 2016 | +9.0% | — | — | |
| Q1 2016 | -6.0% | — | — | |
| Q4 2015 | +2.9% | — | — | |
| Q3 2015 | -7.8% | — | — | |
| Q2 2015 | +9.6% | — | — | |
| Q1 2015 | -17.1% | — | — | |
| Q4 2014 | -9.8% | — | — | |
| Q3 2014 | -11.3% | — | — | |
| Q2 2014 | +7.7% | — | — | |
| Q1 2014 | -15.8% | — | — | |
| Q4 2013 | -21.3% | — | — | |
| Q3 2013 | +1.7% | — | — | |
| Q2 2013 | +21.0% | — | — | |
| Q1 2013 | +13.6% | — | — | |
| Q4 2012 | +5.3% | — | — | |
| Q3 2012 | +3.1% | — | — | |
| Q2 2012 | +2.3% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2009 | -4.7% | — | — | |
| Q4 2011 | -4.7% | — | — | |
| Q3 2011 | +0.5% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q2 2011 | -3.1% | — | — | |
| Q2 2010 | -3.1% | — | — | |
| Q4 2010 | +4.8% | — | — | |
| Q1 2010 | +4.8% | — | — | |
| Q1 2011 | +4.8% | — | — |
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