Wolfspeed Inc - WOLF STOCK NEWS

Wolfspeed (NYSE: WOLF), the global leader in silicon carbide technology, has scheduled its fiscal third quarter earnings conference call and audio webcast for May 8, 2025, at 5:00 pm Eastern Standard Time. The earnings call will feature presentations from Thomas Werner (chairman of the board), Robert Feurle (chief executive officer), and Neill Reynolds (chief financial officer). Investors can access both the live webcast and earnings release through Wolfspeed's Investor Relations website.

Wolfspeed (NYSE: WOLF) has received $192.1 million in cash tax refunds from the advanced manufacturing tax credit under Section 48D, including $186.5 million for fiscal 2023 and 2024 taxes plus interest. This is part of approximately $1 billion in total expected Section 48D refunds, with over $600 million anticipated in fiscal 2026.

The company reaffirmed its Q3 FY2025 guidance, projecting revenue of $170-200 million, with a non-GAAP gross margin of -3% to 7% and a GAAP net loss of $(295)-$(270) million. Wolfspeed expects its cash balance to reach approximately $1.3 billion by the end of Q3 FY2025.

The company also confirmed its previous guidance including reduced capital expenditures for FY2026-2027, targeting EBITDA break-even at $800 million annual revenue, and projecting positive levered free cash flow in FY2027. Wolfspeed continues discussions with lenders, including Apollo and Renesas, while maintaining dialogue with the U.S. Department of Commerce regarding federal funding.

Wolfspeed (NYSE: WOLF), the global leader in silicon carbide technology, has appointed Robert Feurle as its new Chief Executive Officer, effective May 1, 2025. Feurle, a semiconductor industry veteran with over 20 years of experience, will succeed Thomas Werner, who will return to his role as Chairman of the Board.

Feurle brings extensive experience from leadership roles at major semiconductor companies, most recently serving as Executive VP and GM of the Opto Semiconductors Business Unit at ams-OSRAM AG, where he managed over 10,000 employees globally. His track record includes successful tenures at Infineon Technologies, Micron Technology, Qimonda, and Siemens.

The new CEO will focus on improving Wolfspeed's financial performance, accelerating its path to positive free cash flow, and strengthening its balance sheet. Feurle, who holds dual US-German citizenship, will relocate to the company's Durham, North Carolina headquarters.

Wolfspeed (NYSE: WOLF), the global leader in silicon carbide technology, has announced it will host a conference call and audio webcast to discuss its second quarter results on January 29, 2025, at 5:00 pm Eastern Standard Time.

The earnings call will be led by Thomas Werner, executive chairman, and Neill Reynolds, chief financial officer. Investors can access the live webcast and earnings release through Wolfspeed's Investor Relations website.

Wolfspeed (NYSE: WOLF) reported Q2 fiscal 2025 results with consolidated revenue of $181 million, down from $208 million year-over-year. The Mohawk Valley Fab contributed $52 million in revenue, up from $12 million. The company reported a GAAP gross margin of -21% and non-GAAP gross margin of 2%, compared to 13% and 16% respectively in the prior year.

The company incurred significant costs, including $28.9 million in underutilization costs and $188.1 million in restructuring-related expenses. For Q3 fiscal 2025, Wolfspeed targets revenue between $170-200 million, with GAAP net loss projected at $(295)-$(270) million, or $(1.89)-$(1.73) per diluted share.

Management is focusing on three priorities: improving financial performance to accelerate operating free cash flow generation, strengthening the balance sheet, and raising cost-effective capital. The company completed a $200 million at-the-market equity offering and is progressing toward finalizing CHIPS funding.

Wolfspeed (NYSE: WOLF) has launched its new Gen 4 MOSFET technology platform, designed to enhance efficiency and durability in high-power applications. The platform, available in 750V, 1200V, and 2300V classes, delivers up to 21% reduction in on-resistance at operating temperatures and up to 15% lower switching losses.

The technology supports various product categories including power modules, discrete components, and bare die products. Key benefits include improved system efficiency, enhanced durability with short-circuit withstand time up to 2.3 µS, and lower system costs through streamlined design processes.

As the only U.S.-based silicon carbide producer with both material and device fabrication facilities, Wolfspeed's Gen 4 platform will be delivered via 200mm wafers, enabling unprecedented scale and yield. New product introductions will continue throughout 2025 and early 2026.

Wolfspeed (NYSE: WOLF), the global leader in silicon carbide technology, has scheduled its fiscal second quarter earnings conference call and audio webcast for January 29, 2024, at 5:00 pm Eastern Standard Time. The call will feature Thomas Werner, executive chairman, and Neill Reynolds, chief financial officer. Investors can access the live webcast and earnings release through Wolfspeed's Investor Relations website.

Wolfspeed (NYSE: WOLF) has completed its previously announced 'at the market' equity offering, selling 27,793,535 shares of common stock for gross proceeds of approximately $200 million. The offering was conducted through a shelf registration statement and prospectus supplement dated December 9, 2024.

The company plans to use the net proceeds to improve its capital structure, reduce leverage, and address outstanding balance sheet maturities. Executive Chairman Tom Werner highlighted this as an important milestone in completing their CHIPS Act funding process, bringing them closer to finalizing their PMT and receiving initial funding disbursements from the CHIPS office and other lenders.

Wolfspeed (NYSE: WOLF), a global leader in silicon carbide technology, has announced that CFO Neill Reynolds will participate in a fireside chat at the UBS Global Technology and AI Conference. The event is scheduled for December 3, 2024, at 4:15pm ET. Investors and interested parties can access a live webcast of the presentation through the Investor Relations section of Wolfspeed's website at investor.wolfspeed.com/events-and-presentations/.