NASDAQ$STX
Seagate Technology PLC · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Seagate's Q3 2024 financial results were released, showcasing revenue growth and improved EPS.
Seagate Technology reported a 6% increase in revenue to $1.66 billion and a significant rise in non-GAAP EPS, more than doubling over the previous quarter. This improvement was driven by growing cloud demand, strong operating discipline, and effective price execution.
- Revenue reached $1.66 billion.
- GAAP diluted EPS was $0.12, while non-GAAP diluted EPS was $0.33.
- Generated $188 million in cash flow from operations and $128 million in free cash flow.
- Declared a cash dividend of $0.70 per share.
Headline financials
Revenue & EPS history
Seagate · Revenue · Quarterly
$1.66B
Forward guidance
For the fiscal fourth quarter 2024, Seagate anticipates revenue of $1.85 billion, plus or minus $150 million, and non-GAAP diluted EPS of $0.70, plus or minus $0.20.
Tailwinds
- Revenue is expected to be $1.85 billion, plus or minus $150 million.
- Non-GAAP diluted EPS is projected to be $0.70, plus or minus $0.20.
- Guidance excludes known pre-tax charges related to estimated share-based compensation expenses of $0.16 per share.
- Improving cloud demand
- Strong operating discipline and price execution
Headwinds
- Actual results may differ materially due to various factors.
- Material items that may impact GAAP measures are out of the company's control and/or cannot be reasonably predicted.
- These unpredictable items include accelerated depreciation, impairment and other charges related to cost saving efforts.
- Net (gain) loss recognized from early redemption of debt is also unpredictable.
- Strategic investment losses (gains) or impairment charges, and income tax adjustments on these measures, are uncertain.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.1%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+6.4%
Avg return
30 days after
52%
35 / 67 earnings
Positive
+22.0%
Q2 2026
Best reaction
-23.9%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -3.4% | +27.5% | +52.1% | |
| Q2 2026 | +22.0% | +16.5% | +9.7% | |
| Q1 2026 | +19.1% | +19.1% | +24.1% | |
| Q3 2025 | +11.6% | +14.7% | +44.5% | |
| Q2 2025 | +10.8% | +10.8% | +5.1% | |
| Q1 2025 | -7.9% | -8.4% | -11.1% | |
| Q4 2024 | +3.2% | -2.4% | -2.8% | |
| Q3 2024 | +2.3% | +1.0% | +9.7% | |
| Q2 2024 | +2.0% | -0.7% | -1.4% | |
| Q1 2024 | +1.6% | +1.7% | +13.4% | |
| Q4 2023 | +6.7% | +9.0% | +10.6% | |
| Q3 2023 | -10.2% | -10.8% | -1.0% | |
| Q2 2023 | +10.9% | +7.3% | +6.2% | |
| Q1 2023 | -10.4% | -14.4% | -5.7% | |
| Q4 2022 | -6.4% | -7.4% | -2.6% | |
| Q3 2022 | +3.7% | +4.1% | +11.3% | |
| Q2 2022 | +9.4% | +13.1% | +10.7% | |
| Q1 2022 | +8.4% | +7.0% | +22.5% | |
| Q4 2021 | -2.7% | +0.9% | +4.6% | |
| Q3 2021 | +6.3% | +12.3% | +12.0% | |
| Q2 2021 | -2.3% | +5.6% | +19.1% | |
| Q1 2021 | -1.8% | -6.1% | +7.6% | |
| Q4 2020 | -10.6% | -8.8% | -8.1% | |
| Q3 2020 | -3.7% | -1.4% | +2.5% | |
| Q2 2020 | -5.6% | -6.6% | -13.3% | |
| Q1 2020 | +0.1% | -0.3% | +2.8% | |
| Q4 2019 | -3.9% | -3.6% | +8.5% | |
| Q3 2019 | +7.5% | +10.4% | -2.3% | |
| Q2 2019 | -0.3% | -0.5% | +2.2% | |
| Q1 2019 | +4.6% | +6.6% | +0.3% | |
| Q4 2018 | -3.8% | -1.5% | +2.4% | |
| Q3 2018 | -5.5% | -3.8% | -2.7% | |
| Q2 2018 | +0.1% | -5.8% | -2.8% | |
| Q1 2018 | +11.2% | +5.6% | +15.4% | |
| Q4 2017 | -18.7% | -18.0% | -22.0% | |
| Q3 2017 | -16.3% | -16.5% | -15.8% | |
| Q2 2017 | +17.3% | +22.4% | +30.3% | |
| Q1 2017 | -1.0% | -2.3% | +11.2% | |
| Q4 2016 | -5.2% | -0.9% | +3.9% | |
| Q3 2016 | -23.9% | — | — | |
| Q2 2016 | +13.6% | — | — | |
| Q1 2016 | +2.2% | — | — | |
| Q4 2015 | +0.3% | — | — | |
| Q3 2015 | +5.7% | — | — | |
| Q2 2015 | -10.8% | — | — | |
| Q1 2015 | +1.9% | — | — | |
| Q4 2014 | -4.1% | — | — | |
| Q3 2014 | -0.0% | — | — | |
| Q2 2014 | -12.0% | — | — | |
| Q1 2014 | -3.1% | — | — | |
| Q4 2013 | -6.6% | — | — | |
| Q3 2013 | +8.0% | — | — | |
| Q2 2013 | -9.0% | — | — | |
| Q1 2013 | +1.1% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | +7.8% | — | — | |
| Q2 2012 | +21.8% | — | — | |
| Q1 2012 | -11.4% | — | — | |
| Q4 2009 | -12.9% | — | — | |
| Q4 2011 | -12.9% | — | — | |
| Q3 2011 | -1.3% | — | — | |
| Q3 2010 | -1.3% | — | — | |
| Q2 2011 | +0.5% | — | — | |
| Q2 2010 | +0.5% | — | — | |
| Q4 2010 | +0.9% | — | — | |
| Q1 2011 | +0.9% | — | — | |
| Q1 2010 | +0.9% | — | — |
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