Seagate Technology's fourth quarter revenue beat estimates by 4% as record profitability drove a strong fiscal 2026.

Seagate Technology reported fiscal fourth quarter 2026 revenue of $3.63 billion, a 48% year-over-year increase, and non-GAAP diluted EPS of $5.71, more than double the prior-year period. For the full fiscal year, revenue grew 34% to $12.2 billion, while the company generated a record $3.1 billion in free cash flow.

Key Highlights

• Non-GAAP gross margin expanded significantly to 52.7% from 37.9% in the same quarter last year, reflecting strong pricing power and disciplined execution.
• The company generated $1.1 billion in free cash flow during the quarter and reduced total debt by $1.4 billion for the full fiscal year.
• Seagate guided for fiscal first quarter 2027 revenue of $4.1 billion and non-GAAP EPS of $7.30 at the midpoints, indicating accelerating momentum.