Cree Gross Profit Margin by Segment (2016-2022)

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This article explores Cree’s Gross Profit Margin by Segment, reported on a quarterly basis from Q1 2016 onwards.
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This article explores Cree’s Gross Profit Margin by Segment, reported on a quarterly basis from Q1 2016 onwards.

Introduction

Cree Inc. is a manufacturer of lighting- class LED products, and semiconductor products for power and radio frequency applications. They offer products like LED chips, silicon carbide (SiC) materials and power and RF devices. The Company designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets.

The company operates through three segments- LED products, Lighting Products and Wolfspeed.

Cree Gross Profit Margin by Segment

Cree Gross Profit Margin by Segment- LED products

The gross profit margins for the LED products segment was 31.60% in the third quarter of 2016 and 32.22% in the fourth quarter. Gross profit margins dropped in 2017 to 30.38% in the first quarter. And, 29.21% in the second quarter. It was 24.66% in Q3 and 25.94% in Q4. The gross profit margins improved in 2018 to 26.85% in the first quarter. With 25.29% in the second quarter. And 26.35% in Q3 and 27.43% by Q4. LED gross profit margins improved further in the first half of 2019 to 28.12% in the first quarter. And, 29.98% in the second quarter. It was 27.85% in the third quarter before dropping to 24.19% by the end of the year. Gross profit margins declined to 19.20% in the first quarter of 2020. And, 22.23% in the second quarter.

Cree Gross Profit Margin by Segment- Lighting products

Gross profit margin for the lighting products segment was 26% in the third quarter of 2016. And 25.79% in the fourth quarter. The gross profit margin increased in 2017 to 26.81% in the first quarter. And, 35.79% in the second quarter. With 22.95% in the third quarter and 23.80% in Q4. Lighting gross profit margins declined further in 2018 to 21.29% in the first quarter. And, 15.88% in the second quarter. Whereas it was 19.09% and 20.27% in Q3 and Q4 respectively . Gross profit margin then increased to 23.16% in the first quarter. And, 25.71% by the end of the second quarter.

Cree Gross Profit Margin by Segment- Wolfspeed

Gross profit margin for wolfspeed has been the highest amongst all the segments. The gross profit margin for wolfspeed was 52.12% in the third quarter of 2016 and 50.59% in the fourth quarter.  Wolfspeed gross profit margins declined in 2017 to 47.01% in the first quarter. And, 47.66% in the second quarter. With 47.02% in the third quarter and 45.53% in Q4. Gross profit margin somewhat stabilized in 2018 at 48.97% in the first quarter. And, 48.37% in the second quarter, 47.97% in the third quarter and 47.85% by the end of the fourth quarter. The gross profit margins remained fairly stable in 2019 at 47.43% in the first quarter. And, 47.79% in the second quarter, 48.74% in the third quarter and 50.22% by Q4. Wolfspeed gross profit margins dropped down to 46.20% in the first quarter of 2020 and slumped to 34.63% by the end of the second quarter of 2020.

Conclusion

The pandemic has had a negative effect on the company’s gross profit margin. Even wolfspeed that had been operating at 505 margins reported a GPM of only 34% in the recent quarter.

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