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Seagate Tech (STX)
NASDAQ:STX
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q3)Consensus EPS Forecast
1.74Last Year’s EPS
0.33Same Quarter Last Year
Moderate Buy
Based on 17 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 21, 2025
|% Change Since: -31.63%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong revenue and profitability growth, driven by increased demand in the cloud and successful product advancements such as HAMR. However, supply constraints and seasonal market declines present challenges in the near term.Company Guidance
During the Seagate Technology Q2 2025 earnings call, the company provided robust guidance marked by a 7% sequential revenue growth in the December quarter, reaching $2.33 billion. The non-GAAP gross margin expanded by 220 basis points to 35.5%, while non-GAAP earnings per share exceeded $2 for the first time in 12 quarters. The growth was driven by a significant uptake in the cloud sector, with nearline product revenue almost doubling year-over-year and showing a near 60% increase for the entire calendar year. The company also reported a 50% year-over-year revenue growth and a fourfold increase in non-GAAP operating income, with mass capacity revenue and exabyte shipments increasing 9% sequentially. Looking ahead, Seagate expects fiscal Q3 revenue to be around $2.1 billion, plus or minus $150 million, with a non-GAAP EPS projected at $1.70, plus or minus $0.20, despite a temporary $200 million revenue impact due to supply constraints. The company remains optimistic about the future, citing strong demand from cloud customers and ongoing advancements in their HAMR-based Mosaic platform, which is expected to drive significant profitable revenue growth in fiscal 2025 and beyond.Strong Revenue Growth
Seagate achieved a 7% sequential revenue growth in the December quarter, closing calendar 2024 on a strong note.
Non-GAAP Earnings Per Share Achievement
Non-GAAP earnings per share exceeded $2 for the first time in 12 quarters.
Nearline Product Revenue Surge
Nearline product revenue almost doubled year-over-year in the December quarter and showed nearly 60% growth for the entire calendar year.
HAMR Product Milestones
Seagate completed qualification and started ramping HAMR-based products, announcing sampling drives with capacities of up to 36 terabytes.
Operating Income and Margin Growth
Non-GAAP operating income increased by 22% sequentially, with an operating margin of 23.1%.
Gross Margin Improvement
Non-GAAP gross margin expanded by 220 basis points to 35.5%, marking the seventh consecutive quarter of sequential gross margin improvement.
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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
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STX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 21, 2025 | $100.43 | $107.30 | +6.84% |
| Oct 22, 2024 | $110.90 | $101.92 | -8.10% |
| Jul 23, 2024 | $102.98 | $107.12 | +4.02% |
| Apr 23, 2024 | $84.06 | $84.63 | +0.68% |
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.
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FAQ
When does Seagate Tech (STX) report earnings?
Seagate Tech (STX) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Seagate Tech (STX) earnings time?
Seagate Tech (STX) earnings time is at Apr 23, 2025, TBA Not 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 2025 (Q3) is 1.74.
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