Lumentum guides September-quarter adjusted EPS midpoint of $4.20 and points to $5.0 billion fiscal 2027 revenue
AI Market Summary
Lumentum guided the September quarter to $4.05–4.35 adjusted EPS (midpoint $4.20) and outlined a path to ~$5.0B FY2027 revenue (+66% YoY), with recent growth driven mainly by Components. However, the 40% operating margin target appears largely due to operating leverage from higher revenue rather than underlying efficiency gains, and the previously flagged $400M target for 2H 2026 was not raised. The mix of strong headline numbers and quality concerns may increase dispersion in expectations.
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Lumentum issued new guidance, forecasting an adjusted EPS midpoint of $4.20 for the September quarter and projecting fiscal 2027 revenue of $5.0 billion, up 66% year over year. June-quarter revenue rose $525.6 million from a year earlier, including a $329.0 million increase from the Components segment. The company also guided to a 40% operating margin, though analysts said most of the improvement reflects operating leverage from higher revenue rather than internal efficiency gains. A previously flagged $400 million target for the back half of calendar 2026 was not raised.
