Micron Technology 8-K
PositiveEarningsNew guidance
AI demand drives record results; Strategic Customer Agreements bolster confidence in the durability of financial performance.
Filed 2026-09-30 16:02 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q4 and FY2026 results with Q1 FY2027 guidance. Micron reported record results, citing AI-driven demand and strong operational execution. The company expects an even stronger FY2027 and says Strategic Customer Agreements add confidence in the durability of its financial performance.
Key Figures
| Metric | Q4 2026 | Q4 2025 | Y/Y |
|---|---|---|---|
| Revenue | $54.2B | $11.3B | +379% |
| Operating income (GAAP) | $43.8B | $3.65B | +1,100% |
| Operating income (non-GAAP) | $44.6B | $3.96B | +1,030% |
| Net income (GAAP) | $37.7B | $3.20B | +1,080% |
| Net income (non-GAAP) | $38.4B | $3.47B | +1,010% |
| Diluted EPS (GAAP) | $32.87 | $2.83 | +1,060% |
| Diluted EPS (non-GAAP) | $33.42 | $3.03 | +1,000% |
| Operating cash flow | $44.0B | $5.73B | +667% |
| Adjusted free cash flow (non-GAAP) | $33.2B | $0.803B | +4,030% |
| Metric | FY2026 | FY2025 | Y/Y |
|---|---|---|---|
| Revenue | $133B | $37.4B | +256% |
| Operating income (GAAP) | $99.3B | $9.77B | +917% |
| Operating income (non-GAAP) | $101B | $10.8B | +833% |
| Net income (GAAP) | $85.0B | $8.54B | +895% |
| Net income (non-GAAP) | $86.8B | $9.47B | +816% |
| Diluted EPS (GAAP) | $74.33 | $7.59 | +879% |
| Diluted EPS (non-GAAP) | $75.52 | $8.29 | +811% |
| Operating cash flow | $89.7B | $17.5B | +412% |
| Adjusted free cash flow (non-GAAP) | $62.3B | $3.72B | +1,570% |
- Cash, marketable investments and restricted cash totaled $73.5B at year-end. Investments in capital expenditures, net were $10.8B in Q4 and $27.4B for FY2026.
- The board declared a $0.15-per-share quarterly dividend, payable 10/29/2026 to shareholders of record 10/14/2026.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue (GAAP and non-GAAP) | Q1 FY2027 | $61.5B ± $1.5B | — | — |
| Gross margin (GAAP) | Q1 FY2027 | ≈85.95% | — | — |
| Gross margin (non-GAAP) | Q1 FY2027 | ≈86.25% | — | — |
| Operating expenses (GAAP) | Q1 FY2027 | ≈$2.31B | — | — |
| Operating expenses (non-GAAP) | Q1 FY2027 | ≈$2.06B | — | — |
| Diluted EPS (GAAP) | Q1 FY2027 | $37.84 ± $1.00 | — | — |
| Diluted EPS (non-GAAP) | Q1 FY2027 | $38.15 ± $1.00 | — | — |
Investor Takeaways
- Q1 FY2027 revenue and diluted EPS versus the guided ranges will indicate whether the record performance is continuing.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3