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Earnings Data
Report Date
Sep 29, 2026After Close (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
31.06Last Year’s EPS
3.03Same Quarter Last Year
Strong Buy
Based on 30 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated exceptionally strong near-term financial performance (record revenue, gross margin, EPS, cash flow) and meaningful strategic progress (16 SCAs, technology ramps, HBM momentum, strong balance sheet). These positives were balanced against material industry-wide and structural challenges: persistent supply constraints expected beyond 2027, rising cost-per-bit and manufacturing complexity, heavy near-term capital spending, and some uncertainty around SCA pricing structure and the ultimate revenue mix. On balance, the company’s execution, cash generation, strategic contracts, and technology leadership substantially outweigh the risks highlighted, while the risks underscore multi-year capacity and cost challenges that management is explicitly addressing.Company Guidance
Record Revenue, Gross Margin and EPS
Fiscal Q3 revenue $41.5B (+74% sequential, +346% YoY); consolidated gross margin 84.9% (up 10 percentage points sequentially); non-GAAP diluted EPS $25.11 (+106% sequential). Fifth consecutive quarterly revenue record and largest sequential revenue increase in company history ($17.6B).
Exceptional DRAM and NAND Performance
DRAM revenue $31.3B (record; +343% YoY, +67% sequential; 76% of revenue); DRAM bit shipments up low-single-digits and prices increased in the low-60s% range. NAND revenue $9.9B (record; +361% YoY, +99% sequential; 24% of revenue); NAND bit shipments mid-single-digits and prices increased in the mid-80s% range.
Strong Cash Flow and Balance Sheet
Operating cash flow $25.4B; CapEx $7.1B; record free cash flow $18.3B in the quarter. Cash & investments $30.2B; reduced debt by $4.4B during the quarter to $5.7B outstanding; net cash balance $24.4B; upgraded credit ratings (including to BBB+). Company intends to return 100% of excess cash over time.
Strategic Customer Agreements (SCAs) and RPO Visibility
Signed 16 SCAs to date covering roughly 20% of DRAM volume and ~33% of NAND volume; management expects ~50%+ of company revenue to be under SCAs when fully executed. RPO reported: >$5B at end of Q3; cumulative RPO (minimums) ~ $100B for completed SCAs. Projected customer deposits and related commitments $22B (≈$18B cash deposits).
Technology and Product Ramps (HBM, DRAM, NAND)
1 gamma DRAM and G9 NAND nodes ramping well; next-gen DRAM and NAND on track for volume in H2 2027. HBM4 12-high ramp tracking twice as fast as HBM3E 12-high with >$1B shipped in HBM4 revenue and faster yield maturation expected. Multiple fabs and packaging ramps underway (ID1 first wafer mid-2027; ID2 late-2028; Tongluo shipments mid-2027; Singapore HBM packaging contributing in H1 2027).
Broad-Based Segment Strength
Cloud Memory BU revenue $13.8B (+78% sequential); Core Data Center BU $11.5B (+103% sequential); Mobile & Client BU $11.5B (+49% sequential); Automotive & Embedded BU $4.6B (+71% sequential). Segment gross margins strong (83%–87% range) driven by pricing and favorable mix.
Aggressive Guidance and Capital Plan
Q4 guidance: revenue $50B ± $1B, gross margin ~86%, EPS $31 ± $1 (record levels). FY26 CapEx ~ $27B (net of incentives); Q4 CapEx ~ $10B; management expects higher quarterly CapEx in fiscal 2027 as construction increases.
MU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jun 24, 2026 | $1048.51 | $1213.56 | +15.74% |
Mar 18, 2026 | $461.54 | $444.08 | -3.78% |
Dec 17, 2025 | $225.33 | $248.34 | +10.21% |
Sep 23, 2025 | $166.17 | $161.47 | -2.82% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Micron Technology (MU) report earnings?
Micron Technology (MU) is schdueled to report earning on Sep 29, 2026, After Close (Confirmed).
What is Micron Technology (MU) earnings time?
Micron Technology (MU) earnings time is at Sep 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MU EPS forecast?
MU EPS forecast for the fiscal quarter 2026 (Q4) is 31.06.
