Seagate Technology delivered stronger-than-expected Q3 fiscal 2026 results, exceeding guidance on revenue and earnings while achieving record margins. The storage company generated nearly $1 billion in free cash flow as CEO Dave Mosley signaled a "new era of structural growth" driven by AI applications amplifying data creation and storage demand.

Seagate maintained financial discipline, retiring $641 million in debt and returning $191 million to shareholders through dividends and buybacks. The company declared a quarterly dividend of $0.74 per share, payable July 7, 2026. With $1.1 billion in cash and equivalents, Seagate's balance sheet remains healthy heading into the final quarter.

Looking ahead, Seagate projects Q4 revenue of $3.45 billion plus or minus $100 million and non-GAAP EPS of $5.00 with a $0.20 range. The guidance reflects minimal expected impact from global tariff policies and Middle East conflicts. Mosley emphasized the company's areal density-driven strategy enables delivery of higher-capacity, energy-efficient storage at scale.