Seagate Technology (STX) Q2 2026

Q3 2026 Q2 2026 Q1 2026 Q4 2025

Earnings

Seagate Technology delivered a strong fiscal second quarter of 2026, posting non-GAAP diluted EPS of $3.11 against the $2.84 consensus estimate, a beat of 9.58%, while revenue of $2.83 billion cleared expectations by 2.55% and rose 21.5% year over ye… Read more Seagate Technology delivered a strong fiscal second quarter of 2026, posting non-GAAP diluted EPS of $3.11 against the $2.84 consensus estimate, a beat of 9.58%, while revenue of $2.83 billion cleared expectations by 2.55% and rose 21.5% year over year. The standout driver behind the results was a dramatic expansion in profitability, with non-GAAP gross margin climbing to 42.2% from 35.5% a year ago and non-GAAP operating margin reaching 31.9% versus 23.1% in the prior-year period, reflecting both disciplined cost execution and accelerating demand from data centers seeking high-capacity storage at scale. CEO Dave Mosley pointed to the ongoing ramp of Seagate's HAMR-based Mozaic product line as central to that margin story, with AI-driven data workloads reinforcing durable customer appetite for exabyte-scale solutions. Free cash flow surged to $607 million from $150 million a year ago, underscoring the operational momentum. For fiscal Q3 2026, Seagate guided revenue of $2.90 billion and non-GAAP EPS of $3.40, both at the midpoints, suggesting management expects the positive trajectory to continue, a view broadly shared by peers also benefiting from storage sector tailwinds.