Quarterly ResultApr 29, 2026, 04:41 PM
STX Q3 Revenue +44% to $3.11B; Net Income +120% to $748M
AI Summary
Seagate Technology Holdings plc reported strong financial results for the three months ended April 3, 2026, with revenue increasing by 44% to $3.11 billion and net income surging by 120% to $748 million. Diluted EPS rose to $3.27. The company also reclassified $399 million of its 2028 Exchangeable Senior Notes to current portion of long-term debt due to a conditional conversion option trigger and recognized $120 million in induced conversion expense from debt exchanges.
Key Highlights
- Q3 2026 Revenue increased 44% to $3.11 billion from $2.16 billion YoY.
- Q3 2026 Net Income rose 120% to $748 million from $340 million YoY.
- Q3 2026 Diluted EPS increased 108% to $3.27 from $1.57 YoY.
- Net cash provided by operating activities for nine months was $2.37 billion, up from $575 million.
- $399 million of 2028 Exchangeable Senior Notes reclassified to current debt.
- Recognized $120 million non-cash induced conversion expense from 2028 Notes exchanges.
- Dividends to shareholders for nine months totaled $481 million.
- Cash and cash equivalents increased to $1.15 billion from $891 million.
Price Impact
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