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Lumentum

LITE Q2 2026 Earnings

Reported Feb 3, 2026 at 4:12 PM ET · SEC Source

Q2 26 EPS

$1.67

BEAT +18.57%

Est. $1.41

Q2 26 Revenue

$665.5M

BEAT +2.06%

Est. $652.1M

vs S&P Since Q2 26

+96.2%

BEATING MARKET

LITE +101.3% vs S&P +5.0%

Market Reaction

Did LITE Beat Earnings? Q2 2026 Results

Lumentum delivered a blowout fiscal second quarter for 2026, reporting non-GAAP earnings of $1.67 per share, an 18.57% beat against the $1.41 consensus, while revenue of $665.50 million topped estimates by 2.06% and surged 65.5% year-over-year, cemen… Read more Lumentum delivered a blowout fiscal second quarter for 2026, reporting non-GAAP earnings of $1.67 per share, an 18.57% beat against the $1.41 consensus, while revenue of $665.50 million topped estimates by 2.06% and surged 65.5% year-over-year, cementing the company's status as one of the most compelling plays in AI infrastructure. The engine behind those numbers was relentless demand from cloud and AI datacenter customers for Lumentum's optical and photonic products, with non-GAAP operating margin expanding to 25.2% as volume scale drove powerful operating leverage. Shares hit an all-time high in the wake of the print, with multiple Wall Street firms raising price targets to reflect the company's deepening entrenchment in next-generation optical infrastructure. Looking ahead, management guided fiscal Q3 revenue of $780 million to $830 million, implying better than 85% year-over-year growth, alongside non-GAAP EPS of $2.15 to $2.35, with optical circuit switch backlog already exceeding $400 million and a fresh co-packaged optics order signaling the growth runway is still widening.

Key Takeaways

  • • Over 65% year-over-year revenue growth driven by AI and cloud datacenter demand
  • • Non-GAAP operating margin expansion of 1,730 basis points year-over-year to 25.2%
  • • Revenue hit the high end of guidance range while profitability and EPS exceeded prior guidance
  • • Components revenue grew 68.3% YoY; Systems revenue grew 60.1% YoY
  • • Business model leverage driving significant profitability expansion

LITE Forward Guidance & Outlook

For fiscal Q3 2026, Lumentum expects net revenue in the range of $780 million to $830 million (implying over 85% year-over-year growth), non-GAAP operating margin of 30.0% to 31.0%, and non-GAAP diluted earnings per share of $2.15 to $2.35. The company highlighted that it is at the starting line for two substantial opportunities: optical circuit switches (OCS), where backlog has exceeded $400 million, and co-packaged optics (CPO), where the company received an incremental multi-hundred-million-dollar order deliverable in first half calendar 2027.

24/7 Wall St

LITE YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

LITE Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q2 26

“Lumentum delivered a standout second quarter, with over 65 percent year-over-year revenue growth and non-GAAP operating margin expansion above 1,700 basis points. Revenue hit the high end of our guidance range, while profitability and EPS expanded well beyond prior guidance, demonstrating the leverage of our business model.”

— Michael Hurlston, Q2 2026 Earnings Press Release

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