Citable filing context

STX filing events and research context

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STX's research view summarizes recent SEC filing context, starting with restructuring from May 28, 2026.

STX filing events and research context
FiledItemContext
May 28, 2026restructuringSeagate exchanged $185.9M of 3.50% Exchangeable Senior Notes for cash and 2.02M ordinary shares.
May 21, 2026restructuringSTX exchanged $185.908M of 3.50% Exchangeable Senior Notes for cash and ordinary shares.
Apr 28, 2026earningsSeagate reported Q3 2026 revenue of $3.11B, non-GAAP EPS of $4.10, and declared a $0.74/share quarterly dividend.
Apr 28, 2026Guidance: non_gaap_diluted_eps4.80 to 5.20
Apr 28, 2026Guidance: revenue3350.00 to 3550.00
Feb 12, 2026Guidance: notes_outstanding400.00 to not reported
Apr 29, 2026mda_quarterlySeagate Technology Holdings plc reported strong financial performance for the March 2026 quarter, driven by robust demand in data center markets. Revenue reached $3.1 billion, with a gross margin of 46.5% and net income of $748 million. The company shipped 199 exabytes of HDD storage capacity, primarily high-capacity nearline products for cloud and enterprise customers, reflecting sustained demand growth and increasing AI-related storage needs. Revenue and gross margin improvements were largely attributed to favorable pricing actions and increased nearline exabytes shipped. Seagate reclassified its end markets into Data Center (mass capacity, cloud, enterprise, video/image) and Edge IoT (consumer, client, NAS, mission critical, SSD) to better reflect demand drivers, particularly AI. Operating cash flow was $1.1 billion, enabling the retirement of $641 million in long-term debt and payment of $161 million in dividends. The company incurred a $105 million legal settlement charge and $7 million in restructuring costs. Cash and cash equivalents stood at $1.1 billion, with $1.3 billion available under its revolving credit facility, and it remains compliant with debt covenants. Future capital expenditures are expected to be higher in fiscal year 2026, supporting the volume ramp of heat-assisted magnetic recording (HAMR) technology, targeting 4-6% of revenue. Geopolitical uncertainty and evolving trade policies remain potential risks.
Jan 30, 2026mda_quarterlySTX reported strong financial performance for the December 2025 quarter, with revenue reaching $2.8 billion, driven by favorable pricing actions and increased exabytes shipped. Gross margin expanded to 41.6%, and net income was $593 million. The company experienced robust demand, particularly in the data center market, for its high-capacity nearline drives, fueled by cloud customers and growing AI-related data storage needs for inferencing, training, and model integrity. Total HDD exabytes shipped were 190, with 165 exabytes being nearline. STX has re-segmented its markets into Data Center and Edge IoT. Operationally, the company generated $723 million in cash flow from operations during the quarter, and $1.3 billion for the six months. Liquidity remains strong with $1.046 billion in cash and $1.3 billion available on its revolving credit facility, with all debt covenants met. The company retired $500 million of long-term debt, though $4.5 billion in principal remains, and the 2028 Notes' conditional conversion option triggered their classification as current liabilities. Capital expenditures are expected to increase in fiscal year 2026 to support the volume ramp of HAMR technology. Macroeconomic uncertainties, trade policies, and geopolitical tensions remain potential risks.

Source: SEC EDGAR filing text and events; period May 28, 2026; filed May 28, 2026.

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