Recap: Cree Q3 Earnings

Shares of Cree CREE fell after the company reported Q3 results.

Quarterly Results

Earnings per share fell 57.14% year over year to ($0.22), which beat the estimate of ($0.23).

Revenue of $137,300,000 declined by 36.29% year over year, which beat the estimate of $130,210,000.

Guidance

Cree Sees Q4 Adj. EPS $(0.26)-$(0.22) vs $(0.21) Estimate, Sales $142M-$148M vs $138.6M Est.

How To Listen To The Conference Call

Date: Apr 28, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/53kbkk6d

Price Action

52-week high: $129.90

Company's 52-week low was at $38.30

Price action over last quarter: Up 8.09%

Company Profile

Cree Inc is a United States-based company which is involved in the manufacturing of wide bandgap semiconductor products for power and radio-frequency (RF) applications, lighting-class light-emitting diode (LED) products, and lighting products. It operates in two reportable segments: Wolfspeed and LED products. The Wolfspeed segment's products consist of silicon carbide and gallium nitride materials, power devices and RF devices based on silicon and wide bandgap semiconductor materials. The LED products segment, which is the key revenue driver, consist of LED chips and LED components. Geographically, the company conducts business in the United States, China, Europe, and other areas.