Seagate Technology 8-K
PositiveEarningsNew guidance
Robust cloud data-center demand and disciplined execution drove sharply higher revenue and profitability.
Filed 2026-07-28 16:07 ET
- 2.02 Results of Operations
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Fiscal Q4 and FY2026 results with Q1 FY2027 guidance. Revenue and profitability increased sharply, driven by robust cloud data-center demand and disciplined execution. Seagate also declared a $0.74-per-share quarterly dividend, payable 10/07/2026 to shareholders of record on 09/24/2026.
Key Figures
| Metric | Q4 2026 | Q4 2025 | Y/Y |
|---|---|---|---|
| Revenue | $3.63B | $2.44B | 48.5% |
| GAAP gross margin | 52.3% | 37.4% | +14.9 pp |
| Non-GAAP gross margin | 52.7% | 37.9% | +14.8 pp |
| Operating income | $1.56B | $568M | 174% |
| Net income, GAAP | $1.29B | $488M | 165% |
| Net income, non-GAAP | $1.32B | $556M | 137% |
| Diluted EPS, GAAP | $5.58 | $2.24 | 149% |
| Diluted EPS, non-GAAP | $5.71 | $2.59 | 120% |
| Operating cash flow | $1.31B | $508M | 157% |
| Free cash flow | $1.12B | $425M | 163% |
| Metric | FY2026 | FY2025 | Y/Y |
|---|---|---|---|
| Revenue | $12.2B | $9.1B | 34.1% |
| GAAP gross margin | 45.6% | 35.2% | +10.4 pp |
| Non-GAAP gross margin | 46.1% | 35.8% | +10.3 pp |
| Operating income | $4.09B | $1.89B | 117% |
| Net income, GAAP | $3.18B | $1.47B | 117% |
| Net income, non-GAAP | $3.54B | $1.73B | 104% |
| Diluted EPS, GAAP | $13.90 | $6.77 | 105% |
| Diluted EPS, non-GAAP | $15.58 | $8.10 | 92.3% |
| Operating cash flow | $3.67B | $1.08B | 239% |
| Free cash flow | $3.11B | $818M | 280% |
- FY2026 debt declined $1.4B; Seagate ended the year with $3.6B of total debt and $1.7B in cash and cash equivalents. It returned $810M to shareholders through dividends and share repurchases.
- Q4 debt declined $302M, and $283M was returned to shareholders through dividends and share repurchases. There were 227M ordinary shares issued and outstanding at fiscal year-end.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | Q1 FY2027 | $4.1B ± $100M | — | — |
| Diluted EPS, non-GAAP | Q1 FY2027 | $7.30 ± $0.20 | — | — |
Non-GAAP EPS guidance excludes estimated share-based compensation expense of $0.26 per share; the company did not reconcile the outlook to GAAP.
Investor Takeaways
- Q1 FY2027 revenue and non-GAAP EPS versus the guided ranges will show whether the reported momentum carries into the new fiscal year.
- Cloud data-center demand and execution are the stated drivers to watch as Seagate pursues continued growth in FY2027.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3