Q3 2023 Earnings Summary
Reported on Jan 4, 2025 (Before Market Open)
Pre-Earnings Price$26.93Last close (Oct 23, 2023)
Post-Earnings Price$25.59Open (Oct 24, 2023)
Price Change
$-1.34(-4.98%)
- Optical Communications revenues are 30% below trendline due to continued weak demand as carriers draw down inventory, with limited visibility into recovery timelines.
- Lower panel maker utilization in the Display Technologies segment is leading to reduced volume and uncertainty about when demand will improve, potentially impacting near-term sales.
- There is a concern that the long-term trendline in Optical Communications may reset lower due to potential overbuild and higher interest rates affecting service provider investments, which could lead to a lower steady-state revenue level.