Wolfspeed Shares Slide After Q1 Earnings Print: Here's Why

Wolfspeed Inc. (NYSE:WOLF) posted its first-quarter fiscal 2027 results after Wednesday’s closing bell, missing analysts’ earnings estimate. Here’s a look at the details inside the report. 

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Wolfspeed Q1 Details 

Wolfspeed reported quarterly losses of $2.03 per share, which missed the consensus estimate for losses of $1.99, per Benzinga Pro data. 

Quarterly revenue came in at $155 million, which beat the Street estimate of $150.2 million, but was down from $196.8 million in the same period last year.      

“We continued to build momentum across Wolfspeed and are advancing every pillar of our strategy. The conditional $1.5 billion commitment from the U.S. Department of War [Defense], coupled with the multiple long-term supply agreements we announced support our commitment to returning Wolfspeed to a path of long-term, sustainable growth,” said Wolfspeed CEO Robert Feurle.

Looking Ahead

Wolfspeed expects second-quarter revenue in a range of $155 million to $175 million, versus the $153.55 million analyst estimate.

WOLF Stock Price: According to data from Benzinga Pro, Wolfspeed stock was down 5.44% to $21.55 in Wednesday’s extended trading.  

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