$STX 8-K earnings — Q4 FY26

Seagate reported FQ4 non-GAAP EPS of $5.71, beating consensus of $5.40 by $0.31 (+5.7%), with revenue of $3.6B also above expectations. Revenue surged 48% YoY, driven by robust cloud data center demand, and the company guided momentum continuing into FY2027. The key nuance: gross margins hit a record 52.7% non-GAAP, up from 37.9% a year ago, reflecting the powerful operating leverage from HAMR-based Mozaic platform ramp and disciplined execution—not just a one-time pricing pop.

Seagate reported FQ4 non-GAAP EPS of $5.71, beating consensus of $5.40 by $0.31 (+5.7%), with revenue of $3.6B also above expectations. Revenue surged 48% YoY, driven by robust cloud data center demand, and the company guided momentum continuing into FY2027. The key nuance: gross margins hit a record 52.7% non-GAAP, up from 37.9% a year ago, reflecting the powerful operating leverage from HAMR-based Mozaic platform ramp and disciplined execution—not just a one-time pricing pop.