Group 1 - The stock market has entered the Q1 earnings season with significant pessimism regarding tariffs, but the actual results from reporting companies suggest a different narrative [1] - Companies reporting earnings have shown that the reality may not align with the initial pessimistic expectations surrounding tariffs [1] Group 2 - Gary Alexander has extensive experience in covering technology companies and has worked in Silicon Valley, providing insights into current industry themes [1] - He has been a contributor to Seeking Alpha since 2017 and has been featured in various web publications, indicating a strong presence in the investment community [1]

Seagate Technology Stock Rises. The Company Says Tariffs Are No Problem. ...

Seagate Technology Holdings plc (STX) reported third-quarter fiscal 2025 non-GAAP earnings of $1.90 per share, beating the Zacks Consensus Estimate by 7.95%. The bottom line was in the upper end of STX’s guidance of $1.70 per share (+/- 20 cents), highlighting operational discipline and effective cost management. The company reported non-GAAP earnings of 33 cents per share in the year-ago quarter. The expansion reflects the benefits of a more resilient and optimized business model, along with robust supply- ...

Financial Data and Key Metrics Changes - Seagate reported a 31% year-on-year increase in revenue, reaching $2.16 billion, and an 81% growth in non-GAAP gross profit dollars [5][13] - Non-GAAP gross margin expanded by 70 basis points sequentially to 36.2%, and non-GAAP operating margin increased to 23.5% of revenue [13][16] - Non-GAAP EPS was $1.90, at the top end of the guidance range, with free cash flow generation increasing to $216 million compared to $150 million in the prior period [18][19] Business Line Data and Key Metrics Changes - Nearline revenue represented approximately 90% of mass capacity volume, with shipments of 120 exabytes, down 5% sequentially but up 55% year-on-year [15] - Mass capacity revenue declined sequentially by $145 million to $1.7 billion, but represented a 48% increase year-on-year [14] - Legacy product sales totaled $254 million, down 8% sequentially, reflecting expected seasonal trends [15] Market Data and Key Metrics Changes - Cloud nearline revenue and exabytes were up nearly 10% sequentially, almost doubling year-over-year amid a tight supply environment [8] - Demand for mass capacity storage aligns with the cloud CapEx investment cycle and ongoing data center infrastructure build-out to support AI transformations [8][10] - Nearline exabyte demand looks strong through calendar 2025, with visibility of demand extending into the first half of calendar 2026 [10] Company Strategy and Development Direction - The company is focused on managing controllable factors while executing its aerial density-driven technology roadmap [7] - Seagate's HAMR-based Mosaic drives are positioned as the industry's only three terabyte per disk products, with ramping volume to qualified customers [7][12] - The company aims to transform its business model to prioritize profits and cash generation, capitalizing on the growth in data generation and value [23] Management's Comments on Operating Environment and Future Outlook - Management expects minimal impact from trade policy changes on fourth-quarter financial performance and is monitoring the situation closely [6][20] - The company anticipates robust demand for high-capacity nearline products across the global cloud customer base, driving revenue and profits higher in the upcoming quarter [20] - Management expressed confidence in the long-term growth potential driven by increasing data generation and the need for mass capacity storage [23] Other Important Information - The company returned $152 million to shareholders through dividends and maintained liquidity of $2.1 billion at the end of March [19] - Seagate's debt balance was $5.1 billion, with a net leverage ratio of 2.1 times, and plans for further reduction in the coming quarters [19] Q&A Session Summary Question: How did Seagate manage upside in the quarter despite supply constraints? - Management indicated that the predictability built through the build-to-order process allowed them to guide revenue effectively, despite previous operational issues being resolved [29][30] Question: What is the status of HAMR qualifications and its contribution to results? - Management confirmed that HAMR is growing well, with several qualifications in progress, and that it contributed positively to the quarter's results [34][37] Question: How has visibility improved regarding customer demand? - Management noted that build-to-order models provide predictability, and there is a sense of urgency from customers for data center investments [41][42] Question: What is the impact of tariffs on financial models? - Management stated that passing through tariff-related costs would be a last resort, and they are focused on maintaining margins to reinvest in technology [50][52] Question: What is the outlook for revenue growth and gross margin in the back half of the year? - Management expressed confidence in sequential revenue growth and gross margin expansion, with strong demand visibility extending into early 2026 [55][58] Question: How does the company view the impact of emerging AI workloads on storage demand? - Management highlighted that AI workloads are expected to drive significant storage demand, particularly for video applications and large datasets [64][65]

Seagate | 2 Q2FY25 Financial Results SUPPLEMENTAL FINANCIAL INFORMATION Q2FY25 JANUARY 21, 2025 Safe Harbor Statement and Use of Non-GAAP Financial Information This document and our other communications regarding our quarterly financial results contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relat ...

Seagate (STX) came out with quarterly earnings of $1.90 per share, beating the Zacks Consensus Estimate of $1.76 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.95%. A quarter ago, it was expected that this electronic storage maker would post earnings of $1.88 per share when it actually produced earnings of $2.03, delivering a surprise of 7.98%.Over the last four quarters, the co ...

Exhibit 99.1 Investor Relations Contact: Shanye Hudson, (510) 661-1600 shanye.hudson@seagate.com Media Contact: Karin Taylor, (408) 772-8279 karin.h.taylor@seagate.com SEAGATE TECHNOLOGY REPORTS FISCAL THIRD QUARTER 2025 FINANCIAL RESULTS Fiscal Q3 2025 Highlights FREMONT, CA – April 29, 2025 - Seagate Technology Holdings plc (NASDAQ: STX) (the "Company" or "Seagate"), a leading innovator of mass-capacity data storage, today reported financial results for its fiscal third quarter ended March 28, 2025. "Seag ...

Core Viewpoint - Seagate Technology Holdings plc is set to report its third-quarter fiscal 2025 earnings, with expectations of revenue growth driven by mass capacity demand, particularly from cloud customers and AI applications [1][2][3]. Financial Estimates - The Zacks Consensus Estimate for earnings is $1.75 per share, unchanged over the past 30 days, compared to non-GAAP earnings of 33 cents per share in the same quarter last year [1]. - Management anticipates revenues of approximately $2.1 billion, with non-GAAP earnings expected to be $1.70 per share [2]. - Revenue estimates for the HDD segment are projected at $1.989 billion, reflecting a 34.7% increase year-over-year, while non-HDD segment revenues are expected to decline by 15.6% to $150.2 million [8]. Market Dynamics - Seagate expects continued improvements in mass capacity due to rising nearline demand from global cloud customers and enhancements in enterprise and OEM markets [2]. - The company has increased production of its 24-28 terabyte PMR drives, which are now its top-selling product line [4]. - The demand for HDDs is anticipated to rise as cloud service providers focus on AI application development and infrastructure [3]. Revenue and Margin Expectations - Mass capacity revenues are expected to increase by 50.1% year-over-year to $1.77 billion in the fiscal third quarter [7]. - Non-GAAP gross margin is projected to be 35.8%, up from 26.1% in the prior-year quarter, benefiting from strong demand for new nearline products and pricing actions [9]. Supply Chain and Operational Challenges - Supply chain issues are expected to impact revenues by approximately $200 million, although the company plans to meet build-to-order commitments [2]. - Non-GAAP operating expenses for the fiscal third quarter are estimated at $290 million [9]. Earnings Prediction - Current models do not predict an earnings beat for Seagate, with an Earnings ESP of -1.28% and a Zacks Rank of 5 (Strong Sell) [10].

Seagate (STX) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move ...

Seagate Technology Holdings plc (NASDAQ: STX ) is due to report earnings on the 22 nd of April, so I wanted to go through some numbers as well as what I am looking out for fromMSc in Finance. Long-term horizon investor mostly with 5-10 year horizon. I like to keep investing simple. I believe a portfolio should consist of a mix of growth, value, and dividend-paying stocks but usually end up looking for value more than anything. I also sell options from time to time.Analyst’s Disclosure: I/we have no stock, o ...