Movement Alert|Seagate Technology PLC Overnight Rise 7.05%, Q4 Earnings and Guidance Both Significantly Beat Expectations

Market Focus
Jul 29

On July 29, Seagate Technology PLC rose 7.05% overnight, trading at $805.0/share, with turnover of $222,800. The rally followed the company's Q4 fiscal year earnings release after market close, which significantly exceeded Wall Street expectations on both top and bottom lines.

Seagate reported Q4 revenue of $3.629 billion, up 48% year-over-year, surpassing the analyst consensus of $3.485 billion. Adjusted EPS came in at $5.71, beating the $5.09 estimate by over 12%. Adjusted operating margin reached 44.6%, well above the 41.9% expectation. More notably, the company issued Q1 FY2027 revenue guidance of $4.0-4.2 billion, far exceeding the market estimate of $3.75 billion, with adjusted EPS guidance of approximately $7.30 versus the consensus $5.80.

The strong results were driven by surging AI-powered cloud data center storage demand. The company also repaid $1.4 billion in debt during the fiscal year and declared a quarterly dividend of $0.74 per share. The earnings release triggered a broad recovery in storage stocks, with Western Digital and SK Hynix also rising in after-hours trading.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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