Seagate Technology Holdings plc (NASDAQ: STX) reported financial results for its fiscal first quarter ended October 2, 2026. Dave Mosley, Seagate's chair and chief executive officer, said the company delivered another quarter of record profitability and its highest ever free cash flow in the September quarter. He noted that data creation, retention, and reuse continue to compound storage demand, reinforcing the view of a multi-year growth phase.
During the fiscal first quarter, Seagate generated $1.7 billion in cash flow from operations and $1.5 billion in free cash flow. The company retired approximately $1.2 billion in principal debt, lowering gross debt to $2.4 billion. It returned $568 million to shareholders through dividends and share repurchases. As of quarter end, cash and cash equivalents totaled $1.3 billion, with 230 million ordinary shares outstanding.
The Board declared a quarterly cash dividend of $0.76 per share, payable on January 7, 2027, to shareholders of record as of December 23, 2026. For fiscal Q2 2027, Seagate projects revenue of $4.8 billion, plus or minus $100 million, and non-GAAP diluted EPS of $9.20, plus or minus $0.20.
Subsequent to the quarter, Seagate retired an additional $750 million of principal debt, bringing gross debt to $1.6 billion. A Supplemental Financial Information document is available on the company's Investor Relations website at investors.seagate.com.
Source: TechPowerUp News · Summarized by HeadlinesBriefing