Dell Technologies (DELL)
NYSE:DELL
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Earnings Data
Report Date
Sep 03, 2026Before Open (Confirmed)
Period Ending
2027 (Q2)Consensus EPS Forecast
4.7Last Year’s EPS
2.32Same Quarter Last Year
Moderate Buy
Based on 20 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents overwhelmingly positive operational and financial momentum: record revenue, EPS, cash flow, large AI order/bookings/backlog, strong ISG growth, product innovation, and raised FY guidance. However, significant supply constraints—primarily DRAM/NAND and other component shortages—are limiting the company’s ability to fully convert demand into shipments and create phasing uncertainty. There are also tactical trade-offs in pricing that impacted some transactional demand and near-term segment margin variability. On balance the highlights (strong growth, margin expansion, cash generation, and raised guidance) materially outweigh the lowlights tied mainly to supply constraints and timing effects.Company Guidance
Record Revenue and EPS
Total revenue of $43.8B, up 88% year-over-year; diluted non-GAAP EPS $4.86, up 214% year-over-year — both Q1 records.
Exceptional ISG / AI Server Performance
ISG revenue $29.0B, up 181% year-over-year. AI orders booked $24.4B, AI server revenue recognized $16.1B, and AI backlog ended the quarter at a record $51.3B. Management said AI revenue was up nearly 9x year-over-year (approx. ~800% growth for AI servers).
Strong Profitability and Operating Leverage
Gross margin dollars $7.9B, up 57%; gross margin rate 18.1%. Operating income $4.2B, up 154% (9.7% of revenue). Net income $3.2B, up 194%. OpEx as a percent of revenue fell to 8.4% (down ~610 bps), noted as the lowest level in over 20 years.
Robust Cash Generation and Capital Returns
Cash flow from operations of $4.1B (quarter record). Cash and investments $14.1B (up $800M sequentially). Returned $2.1B to shareholders in the quarter, including repurchasing 11M shares at an average price of $147 and paying a dividend of ~$0.63 per share.
Raised Guidance for FY27
Q2 revenue guidance $44B–$45B (roughly +50% at midpoint). Full-year revenue guidance raised to $165B–$169B (midpoint $167B, up nearly 50% YoY). Full-year diluted non-GAAP EPS guidance $17.90 ± $0.25 (up ~75% at midpoint).
Ambitious AI Server Full-Year Target
Full-year AI server revenue expected at ~$60B (midpoint), representing approximately 2.4x year-over-year growth from prior year.
Storage Momentum in Dell IP Portfolio
Storage revenue $4.3B, up 8% YoY. Dell IP storage delivered multi-quarter demand growth above market: PowerStore (eighth consecutive quarter of double-digit demand growth), PowerScale/Object Scale (3 consecutive quarters of growth, double-digit growth in last 2 quarters). Storage contributed meaningfully to ISG profitability.
Traditional Servers Strong, with Unit and Content Growth
Traditional server & networking revenue $8.5B, up 92% YoY. Management cited both unit growth and increased per-server content (more cores, DRAM, NAND) and growing AI inference use cases on traditional servers.
CSG Growth and Improved Profitability
Client Solutions Group revenue $14.6B, up 17% YoY. Commercial revenue $13.0B, up 18% (7th consecutive quarter of commercial growth). CSG operating income $1.2B (8% margin); consumer revenue up 9%.
Product and Ecosystem Innovations
Expanded AI & infrastructure portfolio: 18th-gen PowerEdge servers, Dell Power Rack (turnkey rack-scale), Dell Promax desktop AI, PowerStore Elite (up to 3x performance, 6:1 data reduction), expanded partnerships (NVIDIA, Google Cloud, OpenAI, SpaceX AI, Palantir, Mistral, CrowdStrike) and growing certified integrations (e.g., Gemini on-premises).
DELL 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
DELL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 28, 2026 | $317.05 | $420.91 | +32.76% |
Feb 26, 2026 | $123.10 | $121.08 | -1.64% |
Nov 25, 2025 | $124.98 | $132.27 | +5.83% |
Aug 28, 2025 | $132.58 | $120.81 | -8.88% |
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 Dell Technologies (DELL) report earnings?
Dell Technologies (DELL) is schdueled to report earning on Sep 03, 2026, Before Open (Confirmed).
What is Dell Technologies (DELL) earnings time?
Dell Technologies (DELL) earnings time is at Sep 03, 2026, Before Open (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 DELL EPS forecast?
DELL EPS forecast for the fiscal quarter 2027 (Q2) is 4.7.
