Wolfspeed Inc (WOLF) Q3 2018 10-Q Quarterly Earnings

Short answer

Wolfspeed Inc (WOLF) filed its Q3 2018 10-Q quarterly report on Oct 17, 2018 for the quarter ended Sep 23, 2018.

AI summary of MD&A and risk factor updates

Revenue $408.3M, up 13% YoY from $360.4M, led by Wolfspeed revenue up 93% to $127.4M
Gross margin 31.4% vs 27.8% YoY, operating margin 0.1% vs negative 3.9% YoY
Wolfspeed strongest segment: revenue $127.4M, gross margin 47.4% vs 49.0%; Lighting Products weakest revenue $134.1M, down 10%
Cash $666M vs $387M, operating cash flow $34.0M vs $54.1M, capital expenditures $37M vs $36M
$575M convertible-note proceeds, $292M line-of-credit repayment, fiscal 2019 capital-investment target approximately $220M
Near-term headwinds: North American commercial-lighting softness, lower consumer demand, pricing competition, inventory build and $2.5M unrealized investment losses

GDPR effective May 25, 2018: cybersecurity incidents could trigger delayed disclosure, regulatory exposure, and material financial harm
U.S. tariffs on Chinese goods and potential retaliatory tariffs: higher product costs and weaker demand
ZTE export ban in April 2018: reduced near-term revenue and profit, with renewed-ban exposure
Wolfspeed capacity constraints: extended customer lead times and risk of orders shifting to competitors
Fiscal 2018 debt: covenant breaches could accelerate Notes or revolving-credit obligations

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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