Sandisk Corp 8-K
PositiveEarningsNew guidance
Data-center demand fuels 378% Y/Y revenue growth; 8-for-1 stock split approved
Filed 2026-10-29 16:13 ET
- 2.02 Results of Operations
- 8.01 Other Events
- 9.01 Financial Statements and Exhibits
Summary
Q1 FY2027 results and an approved eight-for-one forward stock split. Revenue was $11.0B, up 378% Y/Y, with Sandisk citing robust product demand and particularly strong data-center growth. Shareholders of record on 11/09/2026 will receive seven additional shares per share after market close on 11/19/2026; split-adjusted trading is expected to begin on 11/20/2026. Authorized common shares will increase from 450M to 3.6B; the split will not change market capitalization or ownership percentages.
Key Figures
| Metric | Q1 2027 |
|---|---|
| Revenue | $11.0B, +378% Y/Y |
| Gross margin, GAAP | 85.0%, vs 29.8% |
| Gross margin, non-GAAP | 85.1%, vs 29.9% |
| Operating income, GAAP | $8.78B, vs $176M |
| Net income, GAAP | $8.10B, vs $112M |
| Net income, non-GAAP | $7.62B, vs $181M |
| Diluted EPS, GAAP | $52.60, vs $0.75 |
| Diluted EPS, non-GAAP | $49.51, vs $1.22 |
| Operating cash flow | $6.36B, vs $488M |
| Free cash flow | $6.31B, vs $438M |
- Data-center revenue was $4.80B, up 61% Q/Q; edge revenue was $5.83B, up 7% Q/Q and 320% Y/Y. Consumer revenue was $397M, down 29% Q/Q and 39% Y/Y.
- Sandisk repurchased $5.0B of stock, or approximately 3.2M shares. Over the past two fiscal quarters it repurchased 6.0M shares, approximately 4% of total shares outstanding; quarter-end shares outstanding were 144M, vs 146M at 7/3/2026. Cash and cash equivalents were $5.14B at quarter-end, vs $4.76B.
Against earlier guidance (derived from earlier filings)
| Metric | Period | Earlier guidance | Actual | Result |
|---|---|---|---|---|
| Revenue (GAAP) | Q1 FY2027 | $10.3B-$10.8B | $11.0B | beat |
| Gross margin (GAAP) | Q1 FY2027 | 83.0%-84.9% | 85.0% | beat |
| Gross margin (non-GAAP) | Q1 FY2027 | 83.0%-85.0% | 85.1% | beat |
| Diluted EPS (non-GAAP) | Q1 FY2027 | $44.00-$46.00 | $49.51 | beat |
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | Q2 FY2027 | $12.2B-$12.6B | — | — |
| Gross margin, GAAP | Q2 FY2027 | 84.4%-85.4% | — | — |
| Gross margin, non-GAAP | Q2 FY2027 | 84.5%-85.5% | — | — |
| Operating expenses, GAAP | Q2 FY2027 | $677M-$745M | — | — |
| Operating expenses, non-GAAP | Q2 FY2027 | $540M-$560M | — | — |
| Tax expense, non-GAAP | Q2 FY2027 | 14.3% | — | — |
| Diluted EPS, non-GAAP, pre-split | Q2 FY2027 | $55.00-$57.00 | — | — |
| Diluted shares outstanding | Q2 FY2027 | ≈151M | — | — |
Non-GAAP guidance excludes stock-based compensation expense: $9M-$12M for gross margin, $137M-$185M for operating expenses, and $146M-$197M for non-GAAP diluted EPS.
Investor Takeaways
- Watch Q2 revenue against the $12.2B-$12.6B outlook, particularly whether data-center demand sustains the growth that drove Q1.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-29 22:49:21Z