Seagate Beats on FQ1 Revenue and EPS, Guides FQ2 to $4.8B
STX has more than doubled off its 52-week low of $217.67.
Summary
Seagate beat on both lines for fiscal Q1: revenue of $4.23B against a $4.14B consensus and adjusted EPS of $7.68 versus $7.42 expected, with GAAP EPS of $7.59 and net income of $1.76B. Gross margin came in at 57.3%, well above the 46% full-year FY2026 level, which the company credits to value-based pricing and strengthening storage demand. It also raised the quarterly dividend about 3% to $0.76 a share. The bigger item is guidance: FQ2 revenue of $4.8B ±$100M and non-GAAP EPS of $9.20 ±$0.20, both pointing to acceleration from the quarter just reported. This follows the 8-K filed minutes earlier with the same FQ1 figures and the FQ2 outlook. The stock trades at 15x forward earnings versus 35x three months ago, so the multiple has compressed hard even as estimates move up.
At the time of this announcement, STX was trading at $615.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $151.9B. The 52-week trading range was $217.67 to $1,145.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.