Seagate Technology Holdings plc (NASDAQ: STX) reported financial results for its fiscal first quarter ended October 2, 2026, filing an -K with the Securities and Exchange Commission on October 27, 2026. The company reported revenue of $4.233 billion for the quarter, a significant increase compared to the $2.629 billion reported in the same period of the prior year. The filing details a GAAP gross margin of 57.3% and a non-GAAP gross margin of 57.8%. GAAP diluted earnings per share (EPS) were recorded at $7.59, while non-GAAP diluted EPS was $7.68.
Seagate generated $1.7 billion in cash flow from operations and $1.5 billion in free cash flow during the quarter. The company utilized this cash flow to strengthen its balance sheet, retiring approximately $1.2 billion in principal debt. Following this repayment, gross debt stood at $2.4 billion. Additionally, Seagate returned $568 million to shareholders through dividends and share repurchases. As of the end of the fiscal first quarter, the company held $1.3 billion in cash and cash equivalents and had 230 million ordinary shares issued and outstanding.
The company declared a quarterly cash dividend of $0.76 per share. This dividend is payable on January 7, 2027, to shareholders of record as of the close of business on December 23, 2026. This represents an increase of approximately 3% over the previous quarterly dividend of $0.74 per share.
Seagate provided guidance for its fiscal second quarter of 2027, projecting revenue of $4.8 billion, plus or minus $100 million. The company also forecast non-GAAP diluted EPS of $9.20, plus or minus $0.20. Management indicated that this guidance excludes estimated share-based compensation expenses of $0.30 per share.
