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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Seagate Technology
Seagate Technology (STX) investor relations material
Seagate Technology Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2027 earnings summary27 Oct, 2026
Executive summary
Record Q1 FY27 profitability and EPS, supported by sustained Data Center demand, favorable pricing and strong operational execution.
Record free cash flow supported debt reduction and shareholder returns; HAMR, value-based pricing and supply discipline underpin expectations for a multi-year growth phase.
Financial highlights
Revenue was $4.233B, up 61% YoY; 220 exabytes shipped, including 198 exabytes of nearline capacity.
Non-GAAP gross margin was 57.8% and operating margin 50.7%; GAAP gross margin was 57.3% and operating margin 48.8%.
Non-GAAP net income was $1.781B and diluted EPS $7.68; GAAP net income was $1.761B and diluted EPS $7.59.
Operating cash flow was $1.690B and free cash flow $1.479B, versus $532M and $427M a year earlier, respectively.
Outlook and guidance
Q2 FY27 revenue guidance is $4.8B ± $100M; non-GAAP diluted EPS guidance is $9.20 ± $0.20.
Q2 non-GAAP operating margin is expected toward the mid-50% range; quarterly margin expansion is expected to continue through FY27.
FY27 revenue growth is expected to meaningfully outpace FY26; capital expenditures are targeted at 4%-6% of revenue.
Nearline exabyte supply growth target remains mid-20% on a compound basis; December shipments are expected to step up meaningfully.
Q2 EPS guidance excludes estimated share-based compensation charges of $0.30 per share; full GAAP reconciliation is unavailable due to unpredictable items.
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Next Seagate Technology earnings date
Q2 202726 Jan, 2027
Seagate Technology
Next Seagate Technology earnings date
Q2 202726 Jan, 2027
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Frequently asked questions
Hard Drive Experts
Seagate Technology Holdings PLC is an American data storage company that develops and manufactures various types of hardware solutions such as hard drives and similar storage devices. The company is one of the largest players in the Hard Disk Drive (HDD) market and its growth has been fuelled by innovation as well as a number of strategic acquisitions over the years. The company is incorporated in Dublin, Ireland, but has its operational headquarters in Fremont, California. Seagate’s shares are traded on the Nasdaq.
A Pioneer
Seagate Technology was founded in 1979 by Alan Shugart and Finis Conner. Marking a significant development in the data storage industry, Seagate introduced the 5MB ST506, the first 5.25-inch hard disk drive, in 1980. This product played a crucial role in the development of the burgeoning microcomputer market, offering a new form of storage that was more compact and suitable for personal computers.
In its early years, Seagate focused on developing and refining hard disk drive technology, capitalizing on the growing demand for data storage solutions that were both reliable and accessible. The company's innovations in the 1980s, such as the introduction of new encoding techniques, were instrumental in increasing the storage capacity and efficiency of hard drives. These innovations helped establish Seagate as a key player in the data storage industry during its formative years.
Notable Acquisitions
Seagate Technology has strategically expanded through several significant acquisitions. One of its most impactful moves came in 1996 when it acquired Conner Peripherals, a prominent hard disk drive manufacturer. This acquisition notably increased Seagate's manufacturing capacity and market share and allowed the company to further accelerate its growth. Another major acquisition occurred in 2006 when Seagate purchased Maxtor Corporation, further solidifying its position in the global hard drive market. In 2011, Seagate entered the Solid-State Drive (SSD) market by acquiring the SSD assets from Samsung's hard disk drive business, diversifying its product range, and enhancing its technological offerings within SSDs.
Its Products Today
Today, Seagate is one of the dominating forces in the hard drive sector together with Western Digital. Its product lineup primarily includes hard disk drives (HDDs) and solid-state drives (SSDs), catering to both consumer and business markets. Seagate's HDDs are used extensively in desktops, laptops, and servers for bulk data storage. The company’s SSD offerings, incorporating the latest in NAND flash technology, are designed for high-speed data access and efficiency, finding applications in personal computing, gaming, and professional environments. Additionally, Seagate offers hybrid drives that combine HDD and SSD technology, external storage drives for personal data backup, and network-attached storage (NAS) systems suited for home and small business users.