Lumentum Holdings Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Lumentum (LITE) delivered a dramatic Q1 FY2026 turnaround, swinging to $226.6M net income from a $187.4M loss a year ago, driven by a 159.5% surge in gross profit and a massive financing-driven cash build of $2.6B.
Drawn from management commentary in the Q1 2026 10-Q:
Gross profit jumped 159.5% YoY to $778.6M from $300.0M, indicating a significant improvement in product mix, pricing power, or cost structure. This recovery drove operating income from -$171.7M to $245.5M, a swing of over $417M.
Cash & equivalents surged 406.9% YoY to $2.62B, largely fueled by $2.19B in financing cash flows — a 5,101.4% increase — suggesting a major capital raise, debt refinancing, or equity issuance during the quarter.
Long-term debt collapsed 98.3% YoY from $2.56B to just $43.2M, a dramatic deleveraging that substantially reduces interest burden and financial risk, likely funded by the large financing inflows observed in the period.
EPS (Basic)
$3.18
++216.91% YoY
Operating Income
$245.5M
++242.98% YoY
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