COHR - Why Coherent Shares Are Rising Today | Benzinga
Coherent Corp. (NYSE:COHR) shares are trading higher on Tuesday in the premarket session after delivering street-beating second-quarter results yesterday.
The company reported second-quarter sales of $1.131 billion, beating the Wall Street estimate of $1.120 billion. The company reported adjusted EPS of $0.36, beating the analyst consensus of $0.26.
Non-GAAP gross profit slumped 25.3% to $407.7 million. Non-GAAP gross margin contracted to 36% from 39.8%.
The primary drivers ...