Companies /Technology
Seagate Technology Holdings Plc
NASDAQ: STX Computer Hardware
$753.25
▼ $29.75 (−3.80%) today
Markets closed · 9:25pm ET

Seagate Technology (STX) Q3 2026 Earnings

Reported Apr 28, 2026, 4:12pm ET · SEC source
$4.10
Beat +16.94%
EPS · est. $3.51
$3.1B
Beat +5.10%
Revenue · est. $3.0B
+36.6%
Beating market
STX vs S&P since report
5 quarters
Consecutive EPS beats

How Did STX Stock React to Q3 2026 Earnings?

% change · around the report
−6%0+6%Apr 28Apr 29report 4:12pm ETearnings+0.3%+3.6%
−6%0+6%Apr 28Apr 29earnings+0.3%+3.6%
STX +3.6%S&P 500 +0.3%
−6%0+6%Apr 28Apr 29report 4:12pm ETearnings+1.3%+3.6%
−6%0+6%Apr 28Apr 29earnings+1.3%+3.6%
STX +3.6%NASDAQ +1.3%
−10%0+10%+20%Apr 27May 6report 4:12pm ETearnings+3.0%+16.8%
−10%0+10%+20%Apr 27May 6earnings+3.0%+16.8%
STX +16.8%S&P 500 +3.0%
−10%0+10%+20%Apr 27May 6report 4:12pm ETearnings+5.4%+16.8%
−10%0+10%+20%Apr 27May 6earnings+5.4%+16.8%
STX +16.8%NASDAQ +5.4%
+11.10%
Day of report
+4.72%
Next session
+22.25%
One week
+43.21%
30 days

S&P 500 over the same 30 days: +6.60%.

Did STX Beat Earnings? Q3 2026 Results

Yes. Seagate Technology reported Q3 2026 earnings of $4.10 a share on Apr 28, 2026, beating the $3.51 consensus estimate by 16.9%. Revenue was $3.1B against a $3.0B estimate.

Seagate Technology delivered a standout fiscal third quarter of 2026, with results that cleared Wall Street's bar by a wide margin and sent shares surging roughly 13% in after-hours trading. The hard disk drive maker posted adjusted EPS of $4.10, beating the $3.50 consensus estimate by 17.13%, while revenue climbed 44.1% year over year to $3.11 billion, ahead of the $2.96 billion analysts had expected. The driving force behind the expansion was a sharp improvement in margins, with non-GAAP gross margin widening to 47.0% from 36.2% a year ago, reflecting favorable product mix and areal density-driven efficiencies tied to Seagate's HAMR-based Mozaic platform. Cash generation was equally impressive, with free cash flow reaching $953.00 million compared to $216.00 million in the year-ago period, enabling Seagate to retire roughly $641.00 million in debt during the quarter. Looking ahead, management guided fiscal Q4 revenue of $3.45 billion and non-GAAP EPS of $5.00, citing sustained AI-driven storage demand as a continued tailwind.

Key Takeaways
  • AI applications amplifying data creation and supporting sustained storage demand
  • Areal density-driven product strategy delivering higher-capacity, energy- and capital-efficient storage
  • Significant gross margin expansion from 35.2% to 46.5% GAAP year-over-year
  • Strong operating cash flow generation of $1.1 billion in the quarter

“Seagate delivered outstanding March quarter results, exceeding the high end of our revenue and EPS guidance, achieving record margin performance, and generating close to $1 billion in free cash flow.”

Seagate Technology CEO, on the earnings call

What Was Seagate Technology's Outlook in Q3 2026?

For fiscal Q4 2026, Seagate guides revenue of $3.45 billion, plus or minus $100 million, and non-GAAP diluted EPS of $5.00, 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 as of the release date. Non-GAAP diluted EPS guidance excludes estimated share-based compensation expenses of $0.23 per share.

STX YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$900.0M$1.8B$2.7B$2.2B$3.1BRevenue$760.0M$1.4BGross Profit$431.0M$998.0MOperating Income$340.0M$748.0MNet Income
$0$900.0M$1.8B$2.7BRevenueGross ProfitOperating IncomeNet Income
STX income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $3.1B $2.2B +44.1%
Gross Profit $1.4B $760.0M +90.4%
Operating Income $998.0M $431.0M +131.6%
Net Income $748.0M $340.0M +120.0%

STX Revenue by Segment

Hard Drive
Mass Capacity
Legacy
Other

Figures from SEC filings and company reports. Not investment advice.