Seagate Technology Holdings plc (STX) reported third-quarter fiscal 2024 results. Though earnings per share beat the Zacks Consensus Estimate, sales lagged the same.Seagate reported non-GAAP earnings of 33 cents per share, beating the Zacks Consensus Estimate by 22.2%. The company reported a non-GAAP loss of 28 cents per share in the year-ago quarter. Management anticipated non-GAAP earnings to be 25 cents (+/- 20 cents).Non-GAAP revenues of $1.655 billion missed the Zacks Consensus Estimate by 0.7%. The fi ...

Seagate (STX) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often ...

Seagate Technology Holdings plc (STX) reported third-quarter fiscal 2024 non-GAAP earnings of 33 cents per share, beating the Zacks Consensus Estimate by 22.2%. The company reported non-GAAP loss of 28 cents per share in the year-ago quarter.Management anticipated third-quarter fiscal 2024 non-GAAP earnings to be 25 cents (+/- 20 cents).Non-GAAP revenues of $1.655 billion missed the Zacks Consensus Estimate by 0.7%. The figure declined 11% on a year-over-year basis. However, revenues improved 6% sequentiall ...

Seagate Technology Holdings plc (NASDAQ:STX) Q3 2024 Earnings Call Transcript April 23, 2024 5:00 PM ET Company Participants Shanye Hudson - SVP, IR Dave Mosley - CEO Gianluca Romano - CFO Conference Call Participants Erik Woodring - Morgan Stanley Amit Daryanani - Evercore ISI Aaron Rakers - Wells Fargo Wamsi Mohan - Bank of America Krish Sankar - TD Cowen Steven Fox - Fox Advisors Timothy Arcuri - UBS Securities Karl Ackerman - BNP Paribas Ananda Baruah - Loop Capital Mehdi Hosseini - SIG C.J. Muse - Cant ...

Core Insights - Seagate reported $1.66 billion in revenue for the quarter ended March 2024, reflecting an 11% year-over-year decline, while EPS improved to $0.33 from -$0.28 a year ago [1] - The revenue fell slightly short of the Zacks Consensus Estimate of $1.67 billion, resulting in a surprise of -0.68%, but the EPS exceeded expectations by 22.22% compared to the consensus estimate of $0.27 [1] Performance Metrics - Seagate's stock has returned -3.4% over the past month, outperforming the Zacks S&P 500 composite's -4.2% change, and currently holds a Zacks Rank 3 (Hold) [2] - Capacity shipped for mass capacity HDDs was 88.5 EB, below the estimated 92.24 EB, while legacy HDDs shipped 10.6 EB against an estimate of 11.72 EB [3] - Revenue by product line showed HDD revenue at $1.48 billion, slightly below the average estimate of $1.49 billion, marking a year-over-year decline of 7.9% [3] - Enterprise Data Solutions, SSD & Other generated $178 million, exceeding the estimate of $175.92 million, but reflecting a significant 30.5% decline compared to the year-ago quarter [3] - Revenue from HDD mass capacity was reported at $1.18 billion, while legacy HDD revenue was $297 million, both slightly below their respective analyst estimates [3]

Seagate (STX) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to loss of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.22%. A quarter ago, it was expected that this electronic storage maker would post a loss of $0.07 per share when it actually produced earnings of $0.12, delivering a surprise of 271.43%.Over the last four quarters, the compa ...

Exhibit 99.1 Investor Relations Contact: Shanye Hudson, (510) 661-1600 shanye.hudson@seagate.com Media Contact: Agnieszka Zielinska, (503) 380-0948 agnieszka.zielinska@seagate.com SEAGATE TECHNOLOGY REPORTS FISCAL THIRD QUARTER 2024 FINANCIAL RESULTS Fiscal Q3 2024 Highlights FREMONT, CA – April 23, 2024 - Seagate Technology Holdings plc (NASDAQ: STX) (the "Company" or "Seagate"), the leading innovator of mass-capacity storage solutions, today reported financial results for its fiscal third quarter ended Ma ...

JHVEPhoto Thesis Seagate Technology Holdings plc (NASDAQ:STX) is at the forefront of the market for solving mass-capacity storage problems. With breakthrough technologies, its product portfolio consists of storage devices, systems, and services from edge to cloud for OEMs, distributors, retailers, and institutions. As of 04/12/24, STX's stock price was $85.19. Recently, Seagate provided forward guidance stating that its new Mozaic platform will undergo volume scaling. In response, I believe its Mozaic platf ...

Investors are always looking for stocks that are poised to beat at earnings season and Seagate Technology Holdings plc (STX) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Seagate Technologyis seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possibl ...

Core Insights - Seagate (STX) is expected to report quarterly earnings of $0.25 per share, a significant increase of 189.3% year-over-year, while revenues are forecasted to decline by 11.6% to $1.65 billion [1] - Analysts have revised the consensus EPS estimate upward by 11.3% over the last 30 days, indicating a reassessment of initial forecasts [1] - The correlation between earnings estimate revisions and short-term stock price performance is highlighted as a critical factor for investors [1] Revenue Estimates - Revenue from the HDD product line is projected to be $1.47 billion, reflecting a year-over-year decrease of 8.4% [2] - Revenue from Enterprise Data Solutions, SSD & Other is expected to reach $175.92 million, indicating a significant decline of 31.3% year-over-year [2] Capacity and Pricing Metrics - Analysts estimate that the total capacity shipped will be 101.93 EB, down from 118.7 EB in the same quarter last year [3] - The HDD price per terabyte is estimated at $14.28, slightly higher than the previous year's value of $14 [3] - Capacity shipped for mass capacity is expected to be 90.22 EB, compared to 104.1 EB reported in the same quarter last year [2] Stock Performance - Over the past month, Seagate shares have decreased by 3.7%, while the Zacks S&P 500 composite has seen a decline of 1.7% [3] - Seagate holds a Zacks Rank of 3 (Hold), suggesting that its performance is likely to align with the overall market in the near term [3]