Coherent, Inc. (NASDAQ:COHR) reported its Q1 results, with EPS coming in at $0.95, better than the Street estimate of $0.93. Revenue was $1.37 billion, in line with expectations.

Analysts at Deutsche Bank view the company's commentary on demand trends as reassuring, with management reaffirming double-digit growth in fiscal 2023.

The most incremental data point from the call, in the analysts’ view, was management's indication of incremental weaknesses impacting parts of its Industrial end-market.

Overall, the analysts view the company’s continued focus on deleveraging ($133 million in debt paydown in Q2) as of key importance, especially in a raising interest rates environment.