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Seagate Technology Reports Fiscal Third Quarter 2026 Financial Results
“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,” said Dave Mosley, Seagate’s chair and chief executive officer.
“We believe Seagate is entering a new era of structural growth as AI applications amplify data creation and support sustained storage demand. Our areal density-driven product strategy enables us to deliver higher-capacity, energy- and capital-efficient storage at scale. Through disciplined execution, we are strategically positioned to capture these opportunities, and drive profitable growth and long-term value creation,” Mosley concluded.
Quarterly Financial Results
During the fiscal third quarter, the Company generated $1.1 billion in cash flow from operations and $953 million in free cash flow. Seagate’s balance sheet remains healthy, and during the fiscal third quarter, the Company retired approximately $641 million in debt and returned $191 million to shareholders through dividends and share repurchases. As of the end of the quarter, cash and cash equivalents totaled $1.1 billion, and there were 224 million ordinary shares issued and outstanding.
Seagate has issued a Supplemental Financial Information document, which is available on Seagate’s Investor Relations website at investors.seagate.com.
Quarterly Cash Dividend
The Board of Directors of the Company (the “Board”) declared a quarterly cash dividend of $0.74 per share, which will be payable on July 7, 2026, to shareholders of record as of the close of business on June 24, 2026. The payment of any future quarterly dividends will be at the discretion of the Board and will be dependent upon Seagate’s financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the Board.
Business Outlook
The business outlook for the fiscal fourth quarter 2026 is based on our current assumptions and expectations; actual results may differ materially as a result of, among other things, the important factors discussed in the Cautionary Note Regarding Forward-Looking Statements section of this release.
The Company is providing the following guidance for its fiscal fourth quarter 2026:
- Revenue of $3.45 billion, plus or minus $100 million
- Non-GAAP diluted EPS of $5.00, plus or minus $0.20
Our fiscal fourth quarter guidance includes:
- The estimated net dilutive impact from the Exchangeable Senior Notes due 2028; and
- Minimal expected impact from global tariff policies and/or the current conflict in the Middle East as of the date of this release.
Guidance regarding non-GAAP diluted EPS excludes known pre-tax charges related to estimated share-based compensation expenses of $0.23 per share.
