Seagate Technology reported third‑quarter fiscal 2026 results, posting revenue of $3.11 billion and a non‑GAAP earnings per share of $4.10, while also issuing a fourth‑quarter outlook that topped Wall Street forecasts.
Quarterly Performance Highlights
The storage provider posted a GAAP gross margin of 46.5 % and a non‑GAAP margin just slightly higher at 47.0 %. Operating cash flow reached $1.1 billion, generating $953 million in free cash flow for the period. Investors responded positively, with Seagate’s share price climbing sharply after the numbers were released.
Forward Guidance and Market Position
For the upcoming quarter, Seagate projected revenue of $3.45 billion, allowing a $100 million variance, and an adjusted EPS of $5.00 with a $0.20 tolerance band. The guidance exceeded consensus estimates, reinforcing the company’s standing in a market increasingly reliant on high‑capacity storage for AI workloads. Analysts note that the firm’s ability to supply cost‑effective terabytes positions it well amid growing demand from hyperscalers, corporate data centers, and even blockchain and crypto applications that require reliable long‑term archiving.