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Seagate Technology (STX)
NASDAQ:STX
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
3.46Last Year’s EPS
1.9Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strongly positive operational and financial picture: record revenue, margins and exabyte shipments, a healthy cash generation and a clear technology roadmap with HAMR qualifications and product ramps. Most near-term indicators and guidance are upbeat. Notable cautions include tight supply (capacity fully allocated through 2026), pricing and contract uncertainty beyond 2026, customer concentration, and transition/execution risks tied to HAMR and higher platter densities. On balance the positive results, momentum and guidance substantially outweigh the lowlights.Company Guidance
Record Financial Performance
December quarter revenue of $2.83B (up 7% sequentially and 22% year-over-year); non-GAAP gross margin 42.2% (up 210 bps QoQ); non-GAAP operating margin 31.9% (up 290 bps QoQ); non-GAAP EPS $3.11 (up 19% QoQ). Company set records for exabyte shipments, gross margin, operating margin and non-GAAP EPS.
Strong Exabyte Shipments and Data Center Demand
Shipped 190 exabytes in the quarter (up 26% YoY) with data center shipments of 165 exabytes (up 4% QoQ and 31% YoY). Data center market accounted for 87% of shipment volume and generated ~$2.2B of revenue (up 5% QoQ and 28% YoY).
HAMR Technology Ramp and Qualifications
Quarterly HAMR shipments exceeded 1.5 million units; shipped 3 TB-per-disk Mozaic-based HAMR products to first CSP; Mozaic 3 qualified with all major U.S. CSPs; Mozaic 4 qualifications tracking to plan with ramp expected later in the quarter. Road map targets up to 10 TB per disk early next decade; recent lab demo of 7 TB per disk capability.
Average Drive Capacity Growth and Stable Revenue per Terabyte
Average nearline drive capacity rose ~22% YoY to about 23 TB per drive (cloud nearline averaging nearly 26 TB). Despite higher capacities, revenue per terabyte remained relatively stable, supporting pricing strategy effectiveness.
Strong Cash Generation and Balance Sheet Actions
Generated $607M free cash flow (highest in 8 years, up 42% QoQ); retired ~$500M of gross debt; cash & equivalents just over $1B and total liquidity of $2.3B; net leverage improved to ~1.1x based on adjusted EBITDA of $962M.
Operational Efficiency and Expense Discipline
Non-GAAP gross profit ~$1.2B (up 14% QoQ and 44% YoY); non-GAAP operating expenses flat at ~$290M, representing ~10.3% of revenue and trending toward the long-term ~10% OpEx target. CapEx disciplined at $116M (~4% of revenue) with guidance to remain in 4%-6% range for FY26.
Positive Near-Term Guidance
March quarter guidance: revenue $2.9B +/- $100M (midpoint ~+34% YoY), non-GAAP EPS $3.40 +/- $0.20, and expected non-GAAP operating margin approaching mid-30% range. Company expects sequential top- and bottom-line improvement through calendar 2026.
STX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
STX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 28, 2026 | $442.93 | $446.57 | +0.82% |
Oct 28, 2025 | $222.42 | $264.92 | +19.11% |
Jul 29, 2025 | $151.80 | $146.57 | -3.44% |
Apr 29, 2025 | $80.70 | $90.03 | +11.56% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Seagate Technology (STX) report earnings?
Seagate Technology (STX) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Seagate Technology (STX) earnings time?
Seagate Technology (STX) earnings time is at Apr 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is STX EPS forecast?
STX EPS forecast for the fiscal quarter 2026 (Q3) is 3.46.
