The earnings call reflects a generally positive outlook with strong financial performance, record revenue growth, and strategic advancements in technology adoption. However, concerns around debt levels, tax implications, and challenges in new technology ramp-up moderate the overall sentiment.

Company Guidance -

Q1 2026

During the fiscal fourth quarter of 2025, Seagate Technology reported impressive financial results, marked by a 30% year-over-year revenue growth and record gross margins. The company achieved non-GAAP earnings per share near historic highs and strong free cash flow. For the entire fiscal year, revenue increased by 39%, with non-GAAP gross profit dollars nearly doubling and operating profit more than tripling. Seagate's focus on supply-demand alignment and cost discipline was highlighted as key factors behind one of its most profitable years. Looking ahead to fiscal 2026, the company expects to enhance profitability and cash generation, with plans to resume share repurchases. Seagate began the high-volume ramp of two new nearline platforms, including the first heat-assisted magnetic recording (HAMR) hard drive, which aligns well with growing data demands from traditional compute workloads and AI applications. The company's build-to-order strategy has ensured that its nearline exabyte production capacity is largely spoken for through the middle of the next calendar year. Seagate is optimistic about continued demand from cloud and edge data centers, driven by AI-driven strategic imperatives, with ongoing investments in innovation and a strong technology roadmap positioning it well for future growth.

Strong Financial Performance

Seagate achieved a 30% year-over-year revenue growth and record gross margins, marking a ninth consecutive quarter of improvement. The fiscal year saw a 39% revenue increase, with non-GAAP gross profit nearly doubling and operating profit more than tripling.

HAMR Technology Adoption

Seagate began the high-volume ramp of two new nearline platforms, including the industry's first heat-assisted magnetic recording (HAMR) hard drive, aligning with data growth driven by AI-supported applications.

Strong Cloud Demand

Seagate reported strong global cloud demand, with nearline exabyte production capacity largely spoken for through the middle of the next calendar year.

Record Quarterly Sales

Achieved record quarterly sales and volume shipments for any nearline product with the PMR 24 to 28 terabyte platform.

Capital Returns to Shareholders

The company plans to resume share repurchases later in the quarter, enhancing capital returns to shareholders.

Seagate Tech (STX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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STX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2026 (Q1)	2.34 / -	1.58	―	―	―
Jul 29, 2025	2025 (Q4)	2.45 / 2.59	1.05	146.67% (+1.54)
Apr 29, 2025	2025 (Q3)	1.74 / 1.90	0.33	475.76% (+1.57)
Jan 21, 2025	2025 (Q2)	1.88 / 2.03	0.12	1591.67% (+1.91)
Oct 22, 2024	2025 (Q1)	1.49 / 1.58	-0.22	818.18% (+1.80)
Jul 23, 2024	2024 (Q4)	0.76 / 1.05	-0.18	683.33% (+1.23)
Apr 23, 2024	2024 (Q3)	0.29 / 0.33	-0.28	217.86% (+0.61)
Jan 24, 2024	2024 (Q2)	-0.06 / 0.12	0.16	-25.00% (-0.04)
Oct 26, 2023	2024 (Q1)	-0.24 / -0.22	0.48	-145.83% (-0.70)
Jul 26, 2023	2023 (Q4)	-0.27 / -0.18	1.59	-111.32% (-1.77)

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
Jul 29, 2025	$152.68	$147.42	-3.45%
Apr 29, 2025	$81.17	$90.55	+11.56%
Jan 21, 2025	$99.90	$106.73	+6.84%
Oct 22, 2024	$110.32	$101.38	-8.10%

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.