Earnings summaries and quarterly performance for MICRON TECHNOLOGY.
Research analysts who have asked questions during MICRON TECHNOLOGY earnings calls.
Timothy Arcuri
UBS
11 questions for MU
Also covers: ADI, ALGM, AMAT +17 more
VA
Vivek Arya
Bank of America Corporation
10 questions for MU
Also covers: ADI, ALGM, AMAT +23 more
Vijay Rakesh
Mizuho
9 questions for MU
Also covers: ALGM, ALV, AMAT +16 more
HS
Harlan Sur
JPMorgan Chase & Co.
8 questions for MU
Also covers: ADI, ALAB, AMAT +15 more
Aaron Rakers
Wells Fargo
7 questions for MU
Also covers: AAPL, AMD, ANET +19 more
KS
Krish Sankar
TD Cowen
7 questions for MU
Also covers: AAPL, AEIS, AMAT +21 more
BC
Brian Chin
Stifel Financial Corp.
6 questions for MU
Also covers: AEIS, AMAT, CAMT +7 more
CM
CJ Muse
Cantor Fitzgerald
6 questions for MU
Also covers: ADI, AMAT, AMD +13 more
JM
Joseph Moore
Morgan Stanley
6 questions for MU
Also covers: ADI, AEVA, ALAB +22 more
CD
Chris Danely
Citi
5 questions for MU
Also covers: MCHP, ON
JS
Jim Schneider
Goldman Sachs
5 questions for MU
Also covers: ACN, ADI, AMT +23 more
Kevin Cassidy
Rosenblatt Securities
5 questions for MU
Also covers: ADEA, AMBA, BTDR +13 more
TO
Thomas O’Malley
Barclays Capital
5 questions for MU
Also covers: ALAB, ALGM, AMD +21 more
Tom O'Malley
Barclays
4 questions for MU
Also covers: KLAC, NXPI
John Vinh
KeyBanc Capital Markets
3 questions for MU
Karl Ackerman
BNP Paribas
3 questions for MU
Also covers: ANET, AVGO, CIEN +15 more
QB
Quinn Bolton
Needham & Company, LLC
3 questions for MU
Also covers: ALAB, ALGM, AMBA +22 more
CC
Chris Caso
Wolfe Research LLC
2 questions for MU
Also covers: ADI, ALGM, AMAT +12 more
CD
Chris Daintley
Citigroup Inc.
2 questions for MU
CD
Christopher Danely
Citigroup Inc.
2 questions for MU
Also covers: ADI, MCHP, NXPI +2 more
CM
Christopher Muse
Cantor Fitzgerald
2 questions for MU
Also covers: ADI, AMAT, AMD +13 more
CJ
C J Muse
Tanner Fitzgerald
2 questions for MU
Also covers: AMD, SNDK
JM
Joe Moore
Morgan Stanley
2 questions for MU
Also covers: ADI, AMBA, AMD +8 more
SS
Sreekrishnan Sankarnarayanan
Wolfe Research, LLC
2 questions for MU
Also covers: AAPL, AEIS, AMAT +21 more
SF
Steven Fox
Fox Research
2 questions for MU
Also covers: AMKR, APH, BDC +23 more
CC
Christopher Caso
Wolfe Research
1 question for MU
Also covers: ADI, ALGM, AMAT +16 more
MH
Mehdi Hosseini
Susquehanna Financial Group
1 question for MU
Also covers: AEIS, ALAB, AMAT +19 more
SP
Srinivas Pajjuri
Raymond James & Associates, Inc.
1 question for MU
Also covers: ALAB, AMAT, ARM +10 more
Recent press releases and 8-K filings for MU.
Micron Technology reports fiscal Q1 2026 results
MU
Earnings
Share Buyback
New Projects/Investments
- Micron delivered 20% bit shipment growth in fiscal 2026, with modest sequential DRAM bit growth in Q1 and further increases expected in Q2; revenue growth in Q1 was largely price-driven.
- Achieved a record 68% gross margin, underpinned by robust AI-driven demand, leadership memory technology and structural supply constraints; margins are expected to rise further, albeit more gradually.
- DRAM and NAND capacity remain oversubscribed, with HBM supply for 2026 fully committed via volume and price agreements; small supply uplifts cannot meet broad unmet demand.
- Fiscal Q1 free cash flow margin was ~30%, enabling repayment of $2.7 billion in debt and $300 million in share repurchases, resulting in a net cash position; CapEx plans include doubling construction spend into FY 2026 and sustaining mid-20% CapEx/sales.
7 days ago
Micron reports strong Q1 FY2026 results with record margins
MU
Earnings
Share Buyback
New Projects/Investments
- Micron delivered 68% gross margin in Q1 FY2026, a record high, and expects margins to rise further, though at a slower pace, supported by AI-driven demand and premium product mix.
- DRAM bit shipments grew modestly sequentially in Q1, with full-year fiscal 2026 bit shipment growth of 20%, and further sequential growth anticipated in Q2, though Q2 revenue growth will be price-driven.
- Supply remains underscored by demand; Micron is sold out of HBM for 2026 with volume and price agreements in place, balancing allocation across high-margin and strategic segments.
- The company achieved a near 30% free cash flow margin, repaid $2.7 billion of debt, repurchased $300 million in shares, and reached a net cash position in Q1.
- CapEx is focused on capacity expansion: construction spending is doubling from FY2025 to FY2026, with CapEx/sales in Q1 below 35% and guided to mid-20s in Q2, and FY2027 CapEx to increase for new sites in Idaho, Japan, Singapore, and India.
7 days ago
Micron Technology reports Q1 FY2026 earnings and guidance
MU
Earnings
Guidance Update
New Projects/Investments
- Revenue of $13.64 billion, gross margin of 56.8%, net income of $5.48 billion and EPS of $4.78, all above the high end of FQ1 guidance.
- FQ2 non-GAAP guidance: $18.70 billion ± $0.40 billion revenue, 68.0% ± 1.0% gross margin, $8.42 ± $0.20 EPS and $1.38 billion ± $0.02 billion operating expenses, with a tax rate around 15.5%.
- Demand outlook remains robust: calendar 2025 server unit growth now seen in the high-teens %, and Micron expects to grow DRAM and NAND bit shipments ~20% in calendar 2026 amid tight AI-driven data center demand and constrained supply.
- Fiscal 2026 capex raised to ~$20 billion (from $18 billion) to support HBM supply and 1γ nodes, with first wafer output at the Idaho fab in mid-2027 and a New York fab operational by 2030.
7 days ago
Micron reports Q1 FY2026 results
MU
Earnings
Share Buyback
New Projects/Investments
- Record gross margin of 68%, with further modest expansion expected due to strong AI-driven demand and structural supply constraints.
- Plans for 20% bit shipment growth in fiscal 2026, with sequential DRAM bit shipment growth in Q1 and additional growth anticipated in Q2 amid tight supply.
- Industry-wide supply constraints across DRAM, NAND, and HBM, with Micron sold out on HBM volumes for 2026 and working to broaden capacity.
- Generated ~30% free cash flow margin in Q1, used proceeds to pay down $2.7 billion in debt and repurchase $300 million of shares, ending Q1 as a net cash company.
- Construction CapEx set to double from 2025 to 2026 and rise further in 2027, funding technology transitions and expansions in Idaho, Japan, Singapore, and India.
7 days ago
Micron reports Q1 2026 results and guides robust Q2
MU
Earnings
Guidance Update
New Projects/Investments
- Revenue of $13.64 billion and non-GAAP operating margin of 47%, delivering diluted EPS of $4.78 and net income of $5.48 billion.
- DRAM revenue of $10.8 billion (79% of total) rose 20% Q/Q and 69% Y/Y; NAND revenue of $2.74 billion increased 22% Q/Q and Y/Y.
- FQ2 2026 non-GAAP guidance set at $18.70 billion ± $400 million revenue, 68% ± 1% gross margin, and $8.42 ± $0.20 EPS.
- Fiscal 2026 capex raised to ~$20 billion to support HBM and 1-gamma supply; first Idaho fab wafer output now mid-2027 and New York fab groundbreaking planned early 2026.
7 days ago
Micron reports record Q1 fiscal 2026 earnings
MU
Earnings
Guidance Update
New Projects/Investments
- Micron achieved record Q1 fiscal 2026 revenue of $13.6 billion (+21% sequential, +57% YoY), with a 56.8% gross margin and non-GAAP EPS of $4.78.
- Generated a record free cash flow of $3.9 billion, reduced debt by $2.7 billion, and closed the quarter with net cash of over $250 million.
- Increased fiscal 2026 capital spending guidance to approximately $20 billion to support DRAM (1-gamma) and HBM capacity expansions.
- Provided Q2 fiscal 2026 guidance for record revenue of $18.7 billion, 68% gross margin, and EPS of $8.42 per share.
7 days ago
Micron reports fiscal Q1 2026 results
MU
Earnings
Guidance Update
New Projects/Investments
- Micron delivered $13.6 billion in fiscal Q1 revenue (up 21% sequentially, 57% year-over-year), with record DRAM revenue of $10.8 billion (+69% YoY) and NAND revenue of $2.7 billion (+22% YoY); gross margin was 56.8% and non-GAAP EPS was $4.78, both exceeding guidance.
- Generated a record $3.9 billion in free cash flow on $8.4 billion of operating cash flow and $4.5 billion of capital expenditures; debt was reduced to $11.8 billion, yielding a net cash balance above $250 million at quarter end.
- For Q2, Micron guides to $18.7 billion in revenue (±$0.4 billion), ~68% gross margin (±100 bps), operating expenses of ~$1.38 billion, and EPS of $8.42 (±$0.20); fiscal 2026 CapEx is expected to be $20 billion, weighted to H2.
- Expects tight memory supply to persist beyond 2026; accelerating investment in HBM and 1-gamma DRAM with new fabs in Idaho (first wafers mid-2027), New York (supply in 2030), plus expansions in Japan and Singapore; projects HBM TAM to grow from $35 billion in 2025 to ~$100 billion by 2028 (CAGR ~40%).
7 days ago
Micron Technology reports Q1 FY2026 results
MU
Earnings
Guidance Update
New Projects/Investments
- Revenue of $13.6 billion, up 21% sequentially and 57% year-over-year, driven by record DRAM ($10.8 B) and NAND ($2.7 B) sales, with a 56.8% gross margin and non-GAAP EPS of $4.78.
- Generated $3.9 billion of free cash flow in Q1 on $8.4 billion of operating cash flow, returning to net cash with ending cash and investments of $12 B versus $11.8 B of debt.
- Q2 FY2026 guidance: $18.7 billion revenue (±$0.4 B); 68% gross margin (±100 bps); EPS of $8.42 (±$0.20); fiscal 2026 CapEx raised to $20 billion.
- Company forecasts persistent DRAM and NAND supply tightness, has fully contracted 2026 HBM supply, and projects HBM TAM rising to $100 billion by 2028 (40% CAGR).
7 days ago
Micron reports record Q1 FY2026 results
MU
Earnings
Guidance Update
Dividends
- Revenue of $13.64 billion, up from $11.32 billion in Q4 FY2025 and $8.71 billion year-ago; GAAP net income of $5.24 billion ($4.60 diluted EPS) and non-GAAP net income of $5.48 billion ($4.78 diluted EPS).
- Operating cash flow of $8.41 billion and adjusted free cash flow of $3.9 billion; capital expenditures of $4.5 billion; ending cash and investments of $12.0 billion.
- Fiscal Q2 FY2026 guidance: revenue of $18.70 billion ± $0.4 billion; GAAP diluted EPS of $8.19 ± $0.20 and non-GAAP diluted EPS of $8.42 ± $0.20.
- Board declared a quarterly dividend of $0.115 per share, payable January 14, 2026.
7 days ago
Micron reports fiscal Q1 2026 results
MU
Earnings
Guidance Update
Dividends
- Revenue of $13.64 billion, up from $11.32 billion in the prior quarter and $8.71 billion year-over-year
- GAAP net income of $5.24 billion ($4.60 per diluted share) and non-GAAP net income of $5.48 billion ($4.78 per share)
- Operating cash flow of $8.41 billion, versus $5.73 billion in the prior quarter
- Outlook for Q2: revenue of $18.70 billion ± $0.40 billion and non-GAAP EPS of $8.42 ± $0.20
- Quarterly dividend of $0.115 per share, payable January 14, 2026
7 days ago
Quarterly earnings call transcripts for MICRON TECHNOLOGY.
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