Seagate Technology Holdings plc · STX · Next earnings

Seagate Technology Holdings plc reports Wednesday, Oct 28, 2026

STX reports after market close with consensus EPS at $7.34 and revenue at $4.12B. Last quarter: Seagate Beats on AI-Driven HDD Demand, Raises Guidance on Record Margins and Free Cash Flow

Reports After market close38 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $7.34 Calendar consensus
Consensus revenue $4.12B Calendar consensus
Report date Oct 28, 2026 Wednesday, date estimated
Session After market close 38 days away

Where STX left off: FY2026 Q3

Full report

Seagate Beats on AI-Driven HDD Demand, Raises Guidance on Record Margins and Free Cash Flow

EPS surprise +16.8% Reported $4.10 vs $3.51
Revenue surprise +5.1% Reported $3.11B vs $2.96B
Stock move +11.1% Event window
Subsequent drift +36.9% Up to 20 sessions

Management raised guidance, projecting calendar Q3 2026 revenue of $3.45 billion (approximately 41% YoY growth) with operating margins in the low 40% range. This exceeds the current quarter's already strong performance and signals continued momentum in AI-driven storage demand. The long-term revenue growth target was lifted to at least 20% annually. Capex is expected to remain stable at 4-6% of revenue to support the HAMR transition.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Geopolitical tensions, particularly in the Middle East, could affect supply chains.
  • Reliance on continued AI-driven storage demand; any slowdown would impact growth.
  • Execution risk on HAMR ramp-up and yield improvements.
  • Pricing pressure if new contracts do not materialize as expected.
  • Potential supply chain disruptions or component shortages.

Questions analysts left open

  • Impact of Agentic AI on HDD demand and exabyte CAGR.
  • Cost-reduction timeline and progress on second-generation HAMR.
  • Sustainability of pricing trends and price per exabyte growth.
  • Operating expense trajectory and OpEx flatness.
  • Unit count versus head/media mix as capacity per drive rises.

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Recent STX quarters

All STX earnings
+11.1%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.