Micron Technology, Inc. · MU · Next earnings

Micron Technology, Inc. reports Wednesday, Sep 30, 2026

MU reports after market close with consensus EPS at $31.27 and revenue at $50.59B. Last quarter: Micron Crushes Q3 on AI Memory Demand, Guides to $50B Q4 With 86% Margins

Reports After market close10 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $31.27 Calendar consensus
Consensus revenue $50.59B Calendar consensus
Report date Sep 30, 2026 Wednesday, date estimated
Session After market close 10 days away

Where MU left off: FY2026 Q3

Full report

Micron Crushes Q3 on AI Memory Demand, Guides to $50B Q4 With 86% Margins

EPS surprise +19.7% Reported $25.11 vs $20.98
Revenue surprise +15.4% Reported $41.46B vs $35.91B
Stock move +15.7% Event window
Subsequent drift -24.1% Up to 20 sessions

Guidance was raised. Q4 FY2026 outlook projects record revenue of approximately $50B, 86% gross margin, and ~$31 EPS, up from Q3 actuals of $41.5B revenue and 84.9% margin. In the prior quarter, Q3 guidance was $33.5B at roughly 81% margin; actuals exceeded that by a wide margin, coming in at $41.5B and 84.9%.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Structural supply constraints due to long lead times for greenfield fabs and limited skilled labor.
  • Regulatory permitting and energy-infrastructure challenges for new fab construction.
  • Potential moderation of memory pricing as supply catches up beyond 2027.
  • Reliance on sustained AI and data-center demand to justify current capex levels.
  • Macro-economic and trade uncertainties not reflected in guidance.

Questions analysts left open

  • Floor-price revenue contribution and margin impact of the SCAs
  • Timing of revenue recognition under the SCAs and cash-deposit treatment
  • Future HBM market share and pricing trajectory as competitors ramp
  • Sustainability of the 86% gross-margin guidance
  • Degree of supply-demand imbalance beyond 2027

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Recent MU quarters

All MU earnings
+15.7%FY2026 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.