Seagate Technology Delivers Strong Q1 2026 Results, Powered by Cloud Demand and HAMR Tech

Seagate Technology Holdings plc (ticker STX) reported a stellar fiscal first quarter of 2026, with revenue of $2.63 billion, up 21 % year‑over‑year, and a GAAP diluted EPS of $2.43 (non‑GAAP EPS of $2.61) — both surpassing guidance. Gross margin reached a record 39.4 % on a GAAP basis (non‑GAAP 40.1 %), and operating margin climbed to 26.4 % (non‑GAAP 29.0 %) as the company benefited from strong execution. Seagate highlighted the ramp‑up of its Mozaic HAMR high‑capacity drives, now qualified with five major cloud service providers — a key driver as AI and data‑intensive workloads surge. Looking ahead to Q2 2026, the company expects revenue of around $2.70 billion (±$100 million) and non‑GAAP EPS of approximately $2.75 (±$0.20). In addition, Seagate returned $182 million to shareholders via dividends and share repurchases and increased its quarterly dividend by about 3% to $0.74 per share. #Seagate #STX #DataStorage #HAMR #SlimScan #GrowthStocks #CANSLIM