Palo Alto Networks, Inc. · PANW · Next earnings

Palo Alto Networks, Inc. reports Wednesday, Nov 18, 2026

PANW reports after market close with consensus EPS at $0.97 and revenue at $3.31B. Last quarter: PANW FY26 Q3: NGS ARR Reaches $8.13B on AI Security and Platformization

Reports After market close59 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $0.97 Calendar consensus
Consensus revenue $3.31B Calendar consensus
Report date Nov 18, 2026 Wednesday, date estimated
Session After market close 59 days away

Where PANW left off: FY2026 Q3

Full report

PANW FY26 Q3: NGS ARR Reaches $8.13B on AI Security and Platformization

EPS surprise +7.2% Reported $0.85 vs $0.79
Revenue surprise +2.0% Reported $3.00B vs $2.94B
Stock move -5.6% Event window
Subsequent drift +24.1% Up to 20 sessions

Full-year FY26 guidance was raised across all key metrics: NGS ARR to $8.9-$8.95 billion, revenue to $11.415-$11.425 billion, and adjusted free cash flow margin to 37.5%. The prior quarter had already signaled raised guidance; this marks a further upward revision. Management also announced a transition to total-company guidance reporting and segment-level disclosure starting in FY27.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • High false-positive rate (~25%) in AI defense models requiring manual intervention
  • Rising component and memory costs pressuring hardware margins
  • Integration and execution risk across four recent acquisitions (CyberArk, Chronosphere, Koi, Portkey)
  • AI model inaccuracies and evolving sophistication of autonomous threats
  • Supply-chain constraints for firewall components

Questions analysts left open

  • Sustainability and magnitude of AI data-center demand driving growth
  • Progress and profitability timeline of CyberArk and Chronosphere integration
  • False-positive rates and model reliability in frontier AI defense
  • Component cost pressure on hardware pricing
  • Depth of traction for the newly acquired Koi endpoint security solution

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Recent PANW quarters

All PANW earnings
-5.6%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.