Wolfspeed, Inc. (WOLF) · Nov 4, 2026 · Earnings

Wolfspeed earnings beat revenue expectations but losses deepen

Miss — Non-GAAP diluted EPS ($2.03) vs approximately ($1.99) consensus

Wolfspeed earnings topped the revenue midpoint, but adjusted EPS missed slightly as cash burn and deep operating losses remain central to the turnaround.

Wolfspeed is a post-Chapter 11 silicon-carbide manufacturer trying to rebuild utilization, grow its power-device business and finance a capital-intensive U.S. manufacturing footprint. The market was looking for roughly $149.9 million of revenue and a non-GAAP loss near $1.99 per share, while prior company guidance called for $140 million–$160 million of revenue and still-negative non-GAAP gross margin.

Revenue cleared the bar, but not by enough to change the turnaround story. Revenue was $155.0 million, above the prior guidance midpoint of $150 million and the published consensus near $149.9 million, but still down about 21% from the comparable predecessor period. Power Products held up better than Materials Products, with $116.8 million versus $131.8 million and $38.2 million versus $65.0 million, respectively. (Segment results)

	Q1 FY27	Q1 FY26	Consensus / prior guide
Revenue (Financial Statements)	$155.0M	$196.8M	~$149.9M / $140M–$160M
Non-GAAP gross margin (Non-GAAP Gross Margin)	(13)%	(26)%	Negative expected
Non-GAAP diluted EPS (Non-GAAP Net Loss)	($2.03)	($0.55)	~($1.99)
Adjusted EBITDA (Adjusted EBITDA)	($54.7M)	($57.4M)
Free cash flow (Free Cash Flow)	($96.5M)	($99.6M)

The operating trend improved, but profitability did not. Non-GAAP gross margin improved to negative 13% from negative 26% a year earlier, and management said it improved 710 basis points sequentially. That is meaningful progress in a business where factory utilization is the key economic lever, but it still means Wolfspeed is selling products below adjusted production cost. The adjusted EBITDA loss was also slightly worse than last year, while non-GAAP net loss widened to $111.4 million from $85.2 million.

The new quarter’s outlook is directionally better, not a clean reset. Wolfspeed targets $155 million–$175 million of second-quarter revenue, sequential non-GAAP gross-margin improvement approaching breakeven, and $65 million–$69 million of non-GAAP operating expenses. That raises the low end of the revenue framework and implies continued margin repair, but the company has not yet guided to positive gross margin or operating profitability.

Liquidity remains the constraint beneath the improvement. Cash, cash equivalents and short-term investments fell to $995.1 million from $1.09 billion at fiscal year-end, operating cash flow was negative $84.2 million, and free cash flow was negative $96.5 million. Wolfspeed also recorded $40.0 million of net interest expense, making the still-conditional $1.5 billion government loan commitment strategically important—but that financing was announced before this filing and is not yet a funded balance-sheet solution.

Bottom line: Wolfspeed is executing modestly better on revenue and gross margin, but the quarter still shows a deeply loss-making, cash-consuming business. Against expectations, the slight EPS miss and continued liquidity pressure outweigh the operational progress, leaving the turnaround story only partly advanced rather than reset.

What to watch next

Fiscal Q2 results, early February 2027

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

Bull 58%Neu 27%Bear 15%

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Wolfspeed earnings beat revenue expectations but losses deepen

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