Coherent Corp. (NYSE:COHR) announced the sale of its aerospace and defense business for $400 million and released its fourth-quarter results after Wednesday’s closing bell.
Coherent said it will sell its aerospace and defense business to private equity firm Advent for $400 million. The company added that proceeds from the sale will be used to reduce debt, which will be immediately accretive to Coherent’s EPS.
Coherent reported quarterly earnings of $1 per share, which beat the analyst consensus estimate of 91 cents. Quarterly revenue came in at $1.52 billion, which beat the analyst consensus estimate of $1.5 billion and is up from revenue of $1.31 billion from the same period last year.
“We delivered a strong fiscal 2025 with revenue …