Core Insights - Super Micro Computer (SMCI) reported first-quarter fiscal 2026 earnings of $0.35 per share, exceeding the Zacks Consensus Estimate by 25%, but reflecting a 52% decline year over year [1][10] - Revenues for the same quarter were $5.02 billion, missing the Zacks Consensus Estimate by 0.56% and showing a 15.5% year-over-year decline [2][10] - The company raised its fiscal 2026 revenue outlook to at least $36 billion, up from the previous guidance of $33 billion [8][10] Financial Performance - SMCI's revenues from OEM Appliance and Large Data Center, which account for approximately 68% of total revenues, were $3.4 billion, marking a 25% year-over-year increase but a 6% sequential decline [3] - The Enterprise/Channel segment, representing around 31% of total revenues, reported $1.5 billion, reflecting a 51% year-over-year decline and a 25% sequential decline [3] - Non-GAAP gross margin was 9.5%, down from 13.1% a year ago and 9.6% in the prior quarter, attributed to a less favorable customer and product mix [5] Geographic Breakdown - The United States accounted for 37% of total sales, experiencing a 57% year-over-year decline [4] - Asia represented 46% of revenues, showing a significant 143% year-over-year increase, driven by hyperscale data center expansion [4] - Europe contributed 14% of revenues, up 11% year over year, while the Rest of the World accounted for 3%, increasing 56% from the prior-year quarter [4] Operating Expenses and Investments - Non-GAAP operating expenses were $203 million, down 2% year over year, but remained elevated due to ongoing investments in next-generation AI systems and production capacity expansion [5][6] - The company reported a negative operating cash flow of $918 million and capital expenditures of $32 million as of September 30, 2025 [7] Guidance - For the second quarter of fiscal 2026, SMCI expects net sales between $10 billion and $11 billion and non-GAAP diluted EPS of 46 cents to 54 cents [8]

当地时间10月27日，高通推出面向数据中心的下一代AI推理优化解决方案——基于高通AI200和AI250芯片的加速卡及整机柜产品，并预计于2026年和 2027年分别实现商用化。 有分析人士表示，此次高通推出机架级解决方案，或标志着公司业务正从销售芯片拓展至提供数据中心系统，这一举措与英伟达和AMD的发展路径相一 致，并使公司在数据中心市场与英伟达和AMD展开竞争。 记者注意到，多家A股上市公司在存储等领域与高通存在紧密联系，或将受益于高通进军数据中心解决方案市场。 高通推出机架级解决方案 具体来看，高通AI200是一款专为机架级AI推理打造的解决方案，旨在降低总体拥有成本（TCO），并针对大语言模型及多模态大模型（LLM、LMM） 推理和其他AI工作负载实现性能最优化。每张加速卡支持高达768 GB的LPDDR内存，不仅显著提升了内存容量，还有效降低了成本，从而为AI推理带来 扩展性和灵活性。 高通表示，两款机架级解决方案均配备直液冷散热系统，整机柜的功率消耗控制在160千瓦，充分满足大规模部署的需求。 "通过高通AI200和AI250，我们正重新定义机架级AI推理的无限可能。这些全新AI基础设施解决方案， ...

Financial Data and Key Metrics Changes - Modine reported a 3% increase in total sales for Q1, driven primarily by growth in the Climate Solutions segment [25] - Adjusted earnings per share was $1.06, a 2% increase compared to the prior year [27] - Adjusted EBITDA margin decreased by 40 basis points to 14.9% due to lower performance in the Performance Technologies segment [26] Business Line Data and Key Metrics Changes - Climate Solutions segment saw an 11% increase in revenue and a 10% improvement in adjusted EBITDA, with an adjusted EBITDA margin of 20% [18] - Data center sales grew by $24 million or 15% from the prior year, primarily due to higher sales in North America [18] - Performance Technologies revenues declined by 8%, with adjusted EBITDA down 14% and adjusted EBITDA margin decreasing to 13.1% [21][23] Market Data and Key Metrics Changes - North America data center business is experiencing extraordinary demand, with expectations to approach $2 billion in revenues by fiscal 2028 [11] - The company anticipates a significant acceleration in data center sales in the second half of the fiscal year, projecting a growth of over 80% [31] Company Strategy and Development Direction - The company is focusing on organic growth through capacity investments and product innovation, with a recent $100 million investment to expand manufacturing capacity [9] - Recent acquisitions are aimed at expanding the product portfolio and creating scale in key climate solutions businesses [5][8] - The company is maintaining a balanced portfolio with a strong focus on high-growth areas like data centers while managing costs in underperforming segments [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in raising revenue and earnings outlook for fiscal 2026, driven by strong market demand and recent acquisitions [5][30] - The Performance Technologies segment is expected to continue facing market headwinds, but management is optimistic about future profitability as volumes return [14][24] - The company is committed to reinvesting in growth and expects to see margin improvements in the second half of the fiscal year [26][32] Other Important Information - The company generated $200,000 of free cash flow in the quarter, lower than the prior year due to higher inventory levels [28] - Net debt increased by $123 million compared to the prior fiscal year end, primarily due to recent acquisitions [29] - The company plans to invest an additional $100 million in capital expenditures over the next 12 to 18 months [33] Q&A Session Summary Question: Can you talk about the magnitude of unabsorbed cost in the Climate business related to the DC build-out? - Management indicated that core capacity will convert at good margins, but incremental capital investments may convert at a lower rate due to added resources for engineering support [40] Question: How should we think about the fiscal 2027 data center revenue target? - Management suggested a straight-line approach for estimating fiscal 2027 revenue, trending towards a billion this fiscal year [42] Question: Will margins improve in the second half of the year? - Management expects total company margins to improve, primarily driven by Performance Technologies, with significant volume increases anticipated in the second half [45] Question: Can you provide clarity on capacity expansion and expected revenue? - Management stated that to achieve the $2 billion goal for fiscal 2028, approximately $2.5 billion in capacity is needed, with the recent $100 million investment expected to significantly contribute to this capacity [54] Question: What is the expected interest expense for fiscal 2026? - Management estimated interest expense to be in the range of $28 million to $30 million for fiscal 2026 [85]