Earnings Analysis for COHR
Revenue Analysis:
Total and Operating Revenue: Revenue shows varied trends with a slight decrease from $1,240,194,000 in March 2023 to $1,131,434,000 in December 2023. The operating revenue paralleled the total revenue, indicating all revenue comes from core operations.
Gross Profit Margins: Gross profit consistently decreased from $420,156,000 in March 2023 to $350,641,000 in December 2023. This decline in gross profit parallels the trends observed in total revenue.
Cost Management:
Cost of Revenue: The cost of revenue was highest in June 2023 at $861,686,000 and decreased over subsequent quarters to $780,793,000 in December 2023.
Operating Expense: Operating expenses witnessed a fluctuation, peaking at $379,494,000 in June 2023 before reducing to $320,326,000 in December 2023.
Total Expenses: The total expenses were highest in June 2023 at $1,241,180,000, indicating cost management issues that quarter.
Profitability Analysis:
EBITDA: EBITDA varied significantly, peaking at $231,377,000 in March 2023 and then drastically reducing to a low of $49,008,000 in June 2023 before stabilizing at $175,290,000 in December 2023.
Operating Income: Operating income was positive in March and December 2023 but negative in June and September, indicating operational challenges during those quarters.
Pretax Income: Exhibit significant fluctuation, from -$233,439,000 in June 2023 to -$37,407,000 in December 2023.
Net Income: Similar turbulence is observed in net income, with the company reporting a significant loss of -$178,234,000 in June 2023 and a lesser loss of -$26,991,000 in December 2023.
Cash Flow Indicators:
Reconciled Depreciation: Depreciation values indicate a notable increase in asset depreciation or amortization, peaking in June 2023 at $203,551,000.
Interest Expense: Interest expenses were consistently high, reflecting significant debt levels, with the highest in June 2023 at $78,896,000.
Taxation:
Tax Rate: Tax rates have been variable, with the lowest at 0.21 in March 2023 and progressively increasing to 0.238779 by December 2023.
Tax Provision: Tax provision has shown fluctuations consistent with the variation in pretax income, indicating alignment with financial performance.
Tax Effect of Unusual Items: Exhibits inconsistencies across the period, with significant values affecting taxation due to operational anomalies.
Shareholder Metrics:
Diluted and Basic EPS: Earnings per share have been negative across all quarters, indicating consistent losses per share from operations.
Average Shares: There was a moderate increase in the number of shares from about 139,113,000 in March 2023 to about 151,564,000 by December 2023, reflecting possible financing activities.
Net Income Available to Common Stockholders: Continuously negative, showing significant impacts to shareholders.
Conclusion:
COHR has experienced various financial challenges over the analyzed period, including fluctuating revenues, profitability issues, and continuous operational losses. While the company managed to reduce some costs, the intrinsic profitability issues reflected by consistent net losses pose significant concerns. Strategic realignments focusing on enhancing operational efficiency, reducing costs, and perhaps restructuring financial obligations might be necessary to improve fiscal health.