Q4 26 EPS
$5.71
BEAT +12.11%
Est. $5.09
Q4 26 Revenue
$3.63B
BEAT +3.98%
Est. $3.49B
vs S&P Since Q4 26
+6.4%
BEATING MARKET
STX +13.0% vs S&P +6.7%
Full Year 2026 Results
FY 26 EPS
$15.58
BEAT +4.63%
Est. $14.89
FY 26 Revenue
$12.20B
BEAT +1.15%
Est. $12.06B
Market Reaction
Did STX Beat Earnings? Q4 2026 Results
Seagate Technology Holdings delivered a blowout fiscal fourth quarter, posting non-GAAP diluted EPS of $5.71 against a consensus estimate of $5.09, a beat of 12.11% that extended the company's streak of topping analyst EPS expectations to four consec… Read more Seagate Technology Holdings delivered a blowout fiscal fourth quarter, posting non-GAAP diluted EPS of $5.71 against a consensus estimate of $5.09, a beat of 12.11% that extended the company's streak of topping analyst EPS expectations to four consecutive quarters. Revenue of $3.63 billion cleared the $3.49 billion consensus by roughly 4% and surged 48.5% from the year-ago period, fueled by exceptional cloud data center demand for mass-capacity hard disk drives. The engine behind the outperformance was pricing power and operating leverage, with GAAP gross margin expanding to 52.3% from 37.4% a year earlier and GAAP net income climbing to $1.29 billion from $488 million. Free cash flow of $1.12 billion for the quarter allowed Seagate to continue deleveraging aggressively, retiring $1.40 billion in debt across the full fiscal year. While some investors have questioned the durability of hyperscaler storage spending, management sees no signs of a pullback, guiding fiscal Q1 2027 revenue to $4.10 billion and non-GAAP diluted EPS of $7.30, with AI-driven data generation cited as a durable long-term demand catalyst.
Key Takeaways
- • Robust cloud data center demand
- • Disciplined execution and pricing power
- • AI-driven data generation increasing mass capacity storage demand
- • Significant operating leverage as revenue scaled
- • Non-GAAP gross margin expansion to 52.7% from 37.9% year-over-year
STX Forward Guidance & Outlook
For fiscal Q1 2027, Seagate guided revenue of $4.1 billion plus or minus $100 million and non-GAAP diluted EPS of $7.30 plus or minus $0.20. Guidance includes the estimated net dilutive impact from Exchangeable Senior Notes due 2028 and assumes minimal expected impact from global tariff policies and/or the current conflict in the Middle East. Non-GAAP EPS guidance excludes estimated share-based compensation expenses of $0.26 per share. CEO Dave Mosley stated the company sees momentum continuing into 2027, driven by durable long-term demand for mass capacity storage as AI accelerates data generation.
STX YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
STX Revenue by Segment
Business unit performance breakdown
“Seagate's strong fourth quarter exceeded our expectations for revenue and non-GAAP EPS, capping a fiscal 2026 in which we grew annual revenue 34%, delivered record profitability, and generated a record $3.1 billion in free cash flow. Our performance is being driven by robust cloud data center demand and disciplined execution, and we see the momentum continuing in 2027.”
— Dave Mosley, Q4 2026 Earnings Press Release
STX Earnings Trends
STX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
STX EPS Trend
Earnings per share: estimate vs actual
STX Revenue Trend
Quarterly revenue: estimate vs actual
STX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $5.09 | $5.71 | +12.11% | $3.63B | +3.98% |
| FY Full Year | $14.89 | $15.58 | +4.63% | $12.20B | +1.15% |
| Q3 26 BEAT | $3.51 | $4.10 | +16.94% | $3.11B | +5.10% |
| Q2 26 BEAT | $2.84 | $3.11 | +9.58% | $2.83B | +2.55% |
| Q1 26 BEAT | $2.40 | $2.61 | +8.75% | $2.63B | +3.06% |
| Q4 25 BEAT FY | $2.44 | $2.59 | +6.01% | $2.44B | +0.67% |
| FY Full Year | — | $8.10 | — | $9.10B | — |