Seagate Technology Holdings plc (STX) Q3 2026 Earnings Call Transcript
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Overview
The earnings call summary indicates significant declines in key financial metrics, including a 17% drop in revenue and a substantial decrease in EPS. The gross margin also fell, and cash flow from operations decreased by 25%. These negative financial trends suggest a negative market reaction, particularly given the lack of positive strategic or operational updates to offset these declines.
Key Financial Performance
Revenue $1.86 billion, down 17% year-over-year, primarily due to weaker demand in the mass capacity storage market.
Gross Margin Non-GAAP gross margin was 27.4%, down from 29.5% year-over-year, driven by lower revenue and underutilization of manufacturing capacity.
Operating Expenses Non-GAAP operating expenses were $255 million, down 10% year-over-year, reflecting cost control measures.
Earnings Per Share (EPS) Non-GAAP EPS was $0.28, down from $1.39 year-over-year, impacted by lower revenue and gross margin.
Cash Flow from Operations $180 million, down 25% year-over-year, due to lower earnings.
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Operating Highlights
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Risk or Challenges
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Guidance & Outlook
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Shareholder Return Plan
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Key Q&A
Q:Review of Unclear Management Responses
A:
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Earnings Word Cloud
The most frequently occurring keywords in this quarter's earning call
Aaron Rakers
Ananda Baruah
Arcuri UBS
Bank
Bernstein Institutional
BofA Securities
CEO Chairman
CFO Erik
Cantor Fitzgerald
Chairman Gianluca
Chase Co
Chatterjee JPMorgan
Citigroup Inc
Co Research
Cowen Research
Division Aaron
Division Amit
Division Asiya
Division Fox
Division Karl
Inc Research
LLC Research
President Investor
Seagate Technology
Senior Vice
Vice President
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The earnings call summary indicates significant declines in key financial metrics, including a 17% drop in revenue and a substantial decrease in EPS. The gross margin also fell, and cash flow from operations decreased by 25%. These negative financial trends suggest a negative market reaction, particularly given the lack of positive strategic or operational updates to offset these declines.
STX Report
Frequently Asked Questions
Where does this earnings call transcript come from?
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
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No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
Why do some answers appear as “Unclear” or “Inaudible”?
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
Who creates the AI Summary and Key Q&A highlights shown above the transcript?
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
