Western Digital (WDC) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 05, 2026

After Close (Confirmed)

Period Ending

2026 (Q4)

Consensus EPS Forecast

2.87

Last Year’s EPS

1.45

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 18 Analysts Ratings

Earnings Call Summary

Q3 2026

Earnings Call Date:Apr 30, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed strong operational and financial momentum: high revenue growth (+45% YoY), doubled EPS (~97% YoY), robust margin expansion (gross margin 50.5%, +1,040 bps YoY), large exabyte shipment growth (+34% YoY), strong free cash flow ($978M, 29% margin), and a clear product roadmap with improving customer qualifications and UltraSMR adoption. Key risks noted include concentration in cloud revenue (89%), ongoing HAMR qualification and ramp timing, some remaining convertible debt and SanDisk shares to monetize, and near-term R&D-driven opex increases. Overall, the positives materially outweigh the challenges.

Company Guidance

For fiscal Q4 FY2026 Western Digital guided revenue of $3.65 billion ± $100 million (range $3.55–$3.75B; midpoint ≈ +40% YoY), gross margin of 51%–52%, operating expenses of $385–$395 million, interest and other expense of ~$10 million, an effective tax rate of 16%, and non‑GAAP diluted EPS of $3.25 ± $0.15 based on a 385 million share count. Management also reiterated longer‑term metrics and roadmaps: a conviction that exabyte demand will exceed a >25% CAGR, 40 TB EPMR volume production targeted in H2 CY2026, HAMR in qualification with four customers, plans to have major customers qualified on UltraSMR by end‑CY2027 with ~60% of exabytes on UltraSMR by end of FY2027, and multi‑year LTAs extending into CY2028–CY2029.

Strong Revenue Growth

Revenue of $3.3 billion in fiscal Q3 2026, up 45% year over year; results (revenue, gross margin, EPS) came in above the high end of guidance.

Material EPS and Profitability Expansion

Non-GAAP diluted EPS of $2.72, up ~97% year over year; operating income of $1.3 billion, up 106% YoY; operating margin of 38.6%, up 1,260 basis points YoY.

High Margins and Margin Momentum

Gross margin expanded to 50.5%, up 1,040 basis points YoY and 440 basis points sequentially; Q4 guidance implies further expansion to 51%–52%.

Significant Demand and Capacity Delivery

Shipped 222 exabytes in Q3, up 34% YoY, including >4.1 million drives (118 exabytes) of latest-generation EPMR (up to 32 TB capacity points).

Cloud Revenue Leadership

Cloud represented 89% of total revenue ($3.0 billion), up 48% YoY; consumer $186 million (6%, +24% YoY) and client $179 million (5%, +31% YoY) also grew strongly.

Cash Generation, Debt Reduction, and Capital Returns

Operating cash flow $1.1 billion; free cash flow $978 million (29% FCF margin); monetized 5.8M SanDisk shares to reduce debt by $3.1 billion; ended quarter with $2.0 billion cash and net positive cash position of $450 million; repurchased $752 million of stock and increased dividend 20% to $0.15/quarter.

Technology Roadmap and Customer Adoption

Roadmap includes 44 TB HAMR and 40 TB EPMR in qualification; 40 TB EPMR on track for volume production in H2 CY2026; UltraSMR adoption by three largest customers (two are covering nearly all exabyte demand with UltraSMR); HAMR qualification with four customers; high-bandwidth drives sampling with hyperscalers.

Pricing and Cost Improvements

Average pricing up ~9% YoY; cost per exabyte down roughly 10% YoY; company cites incremental gross margins in the +70% to +75% range on YoY/Qtly improvements.

Credit Upgrade and Balance Sheet Strength

Received S&P and Fitch upgrades to investment-grade; only $1.6 billion of convertible debt remaining after debt reduction actions.

Western Digital (DE:WDC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:WDC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 05, 2026	2026 (Q4)	2.87 / -	1.45	―	―	―
Apr 30, 2026	2026 (Q3)	2.09 / 2.38	1.188	100.00% (+1.19)
Jan 29, 2026	2026 (Q2)	1.69 / 1.86	1.168	59.31% (+0.69)
Oct 30, 2025	2026 (Q1)	1.39 / 1.56	1.175	32.34% (+0.38)
Jul 30, 2025	2025 (Q4)	1.29 / 1.45	0.951	52.57% (+0.50)
Apr 30, 2025	2025 (Q3)	0.98 / 1.19	0.416	185.71% (+0.77)
Jan 29, 2025	2025 (Q2)	1.18 / 1.17	-0.455	356.62% (+1.62)
Oct 24, 2024	2025 (Q1)	1.13 / 1.18	-1.162	201.13% (+2.34)
Jul 31, 2024	2024 (Q4)	0.78 / 0.95	-1.307	172.73% (+2.26)
Apr 25, 2024	2024 (Q3)	0.14 / 0.42	-0.904	145.99% (+1.32)

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

DE:WDC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 30, 2026	€371.20	€371.20	0.00%
Jan 29, 2026	€232.63	€217.59	-6.46%
Oct 30, 2025	€118.92	€124.09	+4.35%
Jul 30, 2025	€62.11	€68.55	+10.37%

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.