Revenue and Earnings Performance - Revenue increased to $2.17 billion in fiscal Q1 2025, up from $1.45 billion in fiscal Q1 2024[1][3] - GAAP diluted EPS of $1.41 and non-GAAP diluted EPS of $1.58 for fiscal Q1 2025[1][3] - Net income of $305 million in fiscal Q1 2025, compared to a net loss of $184 million in fiscal Q1 2024[3][13] - Net income for Q3 2024 was $305 million, compared to a net loss of $184 million in Q3 2023[14] - Non-GAAP net income was $337 million in Q3 2024, compared to a net loss of $46 million in Q3 2023[18] - Non-GAAP diluted EPS was $1.58 in Q3 2024, up from a loss of $0.22 per share in Q3 2023[18] Gross and Operating Margins - Gross margin expanded to 32.9% (GAAP) and 33.3% (non-GAAP), the highest level in over a decade[1][3] - Operating margin improved to 18.6% (GAAP) and 20.4% (non-GAAP) in fiscal Q1 2025, up from (8.9)% and 2.8% respectively in fiscal Q1 2024[3] - Non-GAAP gross profit increased to $723 million in Q3 2024 from $288 million in Q3 2023, with gross margin improving to 33.3% from 19.8%[17] - Non-GAAP operating income rose to $442 million in Q3 2024, up from $40 million in Q3 2023, with operating margin improving to 20.4% from 2.8%[17] Cash Flow and Dividends - Cash flow from operations of $95 million and free cash flow of $27 million in fiscal Q1 2025[1][4] - Quarterly cash dividend increased by approximately 3% to $0.72 per share[1][5] - Free cash flow was $27 million in Q3 2024, down from $57 million in Q3 2023[18] - Free cash flow is defined as net cash from operating activities less acquisition of property, equipment, and leasehold improvements[29] Guidance and Future Outlook - Guidance for fiscal Q2 2025: revenue of $2.30 billion (±$150 million) and non-GAAP diluted EPS of $1.85 (±$0.20)[6] - Seagate is ramping up production of 28-terabyte nearline drives and expanding qualification of HAMR-based Mozaic products with cloud customers[2] Cash and Cash Equivalents - Cash and cash equivalents totaled $1.2 billion as of September 27, 2024[4] Non-GAAP Adjustments and Exclusions - The company uses non-GAAP measures to exclude certain items that are not part of ongoing operations, such as accelerated depreciation and restructuring charges[15][20] - The company excludes gains, losses, and fees from early redemption of debt and termination of interest rate swaps as they are not part of normal operating performance[22] - Purchase order cancellation fees are excluded as they are inconsistent in amount and frequency and not part of normal operating expenses[23] - Restructuring and other costs, including workforce reduction and facility exits, are excluded to provide a supplemental view of operating performance[24] - Share-based compensation expenses are excluded to enhance comparability with peers and assess underlying business performance[25] - Strategic investment gains, losses, and impairment charges are excluded as they are inconsistent and not part of normal operating expenses[26] - IT transformation costs are excluded as they are inconsistent in amount and frequency[27] - Adjusted EBITDA excludes non-core expenses such as impairment charges, restructuring costs, and share-based compensation[30] Special Transactions and Gains - The company recorded a pre-tax net gain of $313 million from the sale of System-on-Chip Operations in April 2024[21] Adjusted EBITDA - Non-GAAP adjusted EBITDA was $498 million in Q3 2024, compared to $404 million in Q2 2024 and $216 million in Q3 2023[19]

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in STX over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Disclaim ...

MINNEAPOLIS, MN - JANUARY 03: A general view of the Seagate Technology company offices on January ... [+] 03, 2024 in Minneapolis, Minnesota. (Photo by AaronP/Bauer-Griffin/GC Images)GC ImagesNote: FY’24 ended in June 2024Seagate stock (NASDAQ: STX Stacks ), a company specializing in the design, manufacture, and distribution of electronic data storage solutions and products, is scheduled to report its first-quarter results on Tuesday, October 22. We expect STX’s stock to likely see little to no movement wit ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Seagate (STX) , which belongs to the Zacks Computer - Integrated Systems industry, could be a great candidate to consider.This electronic storage maker has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 31.11%.For the last reported quarter, Seagat ...

Seagate Technology Holdings plc (STX) is scheduled to report first-quarter fiscal 2025 earnings on Oct. 22.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for first-quarter fiscal 2025 earnings has been revised upwards by 2.1% in the past 60 days at $1.48 per share. The company reported a non-GAAP loss per share of 22 cents in the prior year quarter. The Zacks Consensus Estimate for revenues is currently pegged at $2.11 billion, indicating a 44.8% uptick ...

Wall Street analysts forecast that Seagate (STX) will report quarterly earnings of $1.48 per share in its upcoming release, pointing to a year-over-year increase of 772.7%. It is anticipated that revenues will amount to $2.11 billion, exhibiting an increase of 44.8% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timefra ...

Seagate Technology Holdings plc (STX) is a leading provider of data storage technology and infrastructure solutions.Seagate reported revenues of $6.55 billion in fiscal 2024. In the fiscal fourth quarter of 2024, non-GAAP revenues of $1.89 billion beat the Zacks Consensus Estimate by 1.5%. The figure increased 18% on a year-over-year basis and 14% sequentially driven by growing demand for mass capacity solutions. Management projected revenues to be $1.85 billion (+/- $150 million) for the fiscal fourth quar ...

The data storage market has massive growth opportunities thanks to catalysts such as AI, and this company is all about data storage.Goldman Sachs recently released a report estimating that the global cloud computing market could generate a whopping $2 trillion in revenue in 2030. The report projects this market will see a compound annual growth rate of 22% through the end of the decade, with new catalysts such as artificial intelligence (AI) set to play a central role in its growth.Plenty of companies are a ...

Seagate Technology TodaySTXSeagate Technology$109.01 +0.27 (+0.25%) 52-Week Range$64.12▼$113.57Dividend Yield2.57%Price Target$115.94Add to WatchlistSeagate Technology Holdings plc NASDAQ: STX is a leading provider of consumer and enterprise data storage solutions. It is the largest hard disk drive (HDD) manufacturer in the world and also sells solid-state drives (SSD). Combined with rival Western Digital Co. NASDAQ: WDC, the duopoly commands 80% of the global market share of HDD production.The robust fisca ...

This article is a follow-up to an article I wrote in July, which you can find here . I will be referencing some details that I mentioned in that article, so I recommend reading it as well.I am currently a college student, but I have been around the investment industry for my entire life. My parents are/were both in the industry which helped create my interest in the market. It also helped form my analysis style. My dad used to have me build spreadsheets for him that included fundamental and sentiment analys ...