PENG•Penguin Solutions reaffirmed its fiscal 2027 outlook, which includes a full year of Cree LED results representing about 10% of projected net sales. The company said it will update guidance after the expected first-quarter 2027 sale of Cree LED to Transom Capital Group.
Penguin Solutions reaffirmed its fiscal 2027 outlook issued October 6, 2026. The forecast includes a full year of Cree LED results, about 10% of projected net sales; guidance will be updated following the all-cash sale to Transom Capital Group, expected to close in the first quarter of 2027.
The divestiture leaves underlying growth and demand expectations for the AI infrastructure and memory businesses unchanged. Net sales rose 58% year over year in the second half of fiscal 2026, while earnings grew substantially faster than revenue.
