STX · Seagate Technology Q4 FY2026 earnings call record财报电话会记录

“Our performance led to free cash flow margins of 31%, which totaled more than $1.1 billion, our strongest quarter in over a decade.”

“Exiting the year, HAMR-based products represented approximately 40% of our nearline exabyte shipment run rate, and we continue to invest in HAMR capabilities to support our mid-20% exabyte growth target while further enhancing profitability and capital efficiency.”

“In fiscal 2026, we increased non-GAAP gross margin 10 percentage points, grew non-GAAP EPS more than 90%, and generated record free cash flow of $3.1 billion.”

“Non-GAAP operating margin increased 710 basis points sequentially to 44.6%, and Non-GAAP EPS was $5.71, up 39% quarter-over-quarter and 121% year-over-year, exceeding the high end of our guidance range by a wide margin.”

“Based on tax expense of $242 million and a diluted share count of approximately 231 million shares, including the net impact of our 2028 convertible notes.”

“In the June quarter, we invested $187 million of capital expenditures, with total fiscal 2026 CapEx representing 4.7% of revenue.”

“Looking ahead, we expect capital expenditures for fiscal 2027 will remain well within our target range of 4%-6% of revenue.”

“How we play that is depending upon how we see end customer demand, what the qualification schedule is like for those customers.”

“Therefore, I think we're all confident about the demand that we're seeing, both ourselves and our customers.”

“Every quarter is a bit different, depending how many contracts we negotiate, what is the volume for different customers, what is the upside volume, if any, that is available, and what is the price.”

“On the debt part, we ended our fiscal 2026 with $3.6 billion in debt, which is already a huge reduction from about $5 billion that we had at the beginning of the fiscal year.”

“Actually, we have already done a good step in the month of July, but we will probably end fiscal Q1 at $2.4 billion in debt.”