Lumentum Holdings Inc. (LITE) Earnings
Lumentum Holdings Inc. is expected to report next earnings on August 11, 2026 (in NaN days), with a consensus EPS estimate of $2.96. LITE has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +13.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $2.27 | $2.37 | +4.4% | $808M | -0.2% |
| Feb 3, 2026 | $1.41 | $1.67 | +18.4% | $666M | +2.1% |
| Aug 12, 2025 | $0.81 | $0.88 | +8.1% | $425M | -9.6% |
| Feb 6, 2025 | $0.34 | $0.42 | +23.5% | $402M | +3.1% |
| Nov 7, 2024 | $0.12 | $0.18 | +48.1% | $337M | +3.6% |
| Aug 14, 2024 | $0.03 | $0.06 | +85.7% | $308M | +2.4% |
| Feb 8, 2024 | $0.31 | $0.32 | +3.2% | $367M | +1.0% |
| Aug 17, 2023 | $0.56 | $0.59 | +5.4% | $371M | +1.2% |
| Feb 9, 2023 | $1.33 | $1.52 | +14.3% | $506M | -0.2% |
| Aug 16, 2022 | $1.35 | $1.47 | +8.9% | $422M | +1.0% |
| May 4, 2022 | $1.13 | $1.19 | +5.3% | $395M | +1.3% |
| Feb 3, 2022 | $1.59 | $1.60 | +0.6% | $447M | +0.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Lumentum delivered exceptional third quarter with revenue growing 90% year-over-year to a record $808 million. Non-GAAP operating margin expanded by over 2,100 basis points. • Components revenue grew significantly with narrow line width laser assemblies and pump lasers seeing strong growth. Laser chips achieved record EML shipments, and acquisition of a fifth indium phosphide fab in Greensboro was announced. • Systems revenue grew with cloud transceivers leading, but OCS ramp is gated by supply chain, and performance industrial lasers and cable access are muted. • Expect to set another quarterly revenue record in Q4 with over half of sequential growth stemming from components business and continued ramp of systems portfolio
Guidance
• Anticipate net revenue for the fourth quarter of fiscal year 26 to be in the range of $960 million to $1.01 billion. • Project fourth quarter non-GAAP operating margin to be in the range of 35% to 36% and diluted net income per share to be in the range of $2.85 to $3.05. • Non-GAAP EPS guidance is based on a non-GAAP annual effective tax rate of 16.5% and assumes shares used for non-GAAP diluted earnings of approximately 102 million shares
Segment performance
Components revenue for the quarter was $533 million, reflecting a 20% sequential increase and 77% year-over-year growth. Shipments of narrow line width laser assemblies grew over 120% year over year, pump laser shipments grew 80% year over year. Systems revenue reached $275 million, representing a 24% sequential and 121% year-over-year increase. Cloud transceivers accounted for the lion's share of systems growth, OCS ramp is on track but gated by supply chain, performance industrial lasers and cable access remains muted
Risks & headwinds
• Supply constraints on critical components keep systems shipments well below customer demand. • Supply-demand imbalance on EMLs, pump lasers, etc. is significant, with Lumentum still lagging demand. • Tightness in OCS product area due to significant step up in requested output. • Uncertainties around the pace and slope of OCS ramp gated by supply chain
Analyst Q&A
Q: Samik Chatterjee with JP Morgan asked about EMLs and laser supply dynamics, including supply-demand imbalance and ramping production.
A: Michael and Wu-Pen responded on still chasing demand, stepping up supply, and multi-rail opportunities.
Q: Ryan Kuntz with Needham & Co. asked about OCS engagements and win sizes.
A: Michael discussed working with customers, progress on additional wins, and size of wins.
Q: Vijay Rakesh with Mizzou asked about pump laser mix and supply-demand imbalance into next year.
A: Michael talked about pump laser constraints, ramping capacity, and OCS driving demand.
Q: Meta Marshall with Morgan Stanley asked about CW laser supply into transceivers and margin mix.
A: Michael discussed margin contributors like factory absorption, portfolio changes, and pricing.
Q: Papa Sila with Citi asked about CPO and ELS opportunities and supply risk.
A: Michael talked about ELS opportunities and low risk of oversupply.
Q: Ruben Roy with Stiefel asked about LTA structure and margin waterfall.
A: Michael discussed LTA structures and margin contributors.
Q: Christopher Rowland with Sassasquahanna asked about OCS competition and adjacencies.
A: Michael talked about OCS challenges, competition, and adjacencies.
Q: Vivek Arya with Bank of America Securities asked about transceiver demand and 1.6T margin.
A: Michael discussed transceiver demand imbalance and 1.6T margin improvement.
Q: Ananda Barua with Loop Capital asked about Greensboro facility and capacity.
A: Michael discussed Greensboro facility timeline and revenue contribution