The company said that revenue for the fiscal second quarter ended December 29, 2023 was $1,555 million ($1,887 million a year earlier), with GAAP diluted loss per share of $(0.09) and non-GAAP diluted earnings per share of $0.12.

1. 01

   The company said that revenue for the fiscal second quarter ended December 29, 2023 was $1,555 million ($1,887 million a year earlier), with GAAP diluted loss per share of $(0.09) and non-GAAP diluted earnings per share of $0.12.

2. 02

   The company reported GAAP gross margin of 23.3% for Q2 (13.0% a year earlier) and GAAP operating margin of 8.0% (8.5% a year earlier). Non-GAAP gross margin was 23.6%, and non-GAAP operating margin was 8.2%.

3. 03

   Seagate said it generated cash flow from operations of $169 million and free cash flow of $99 million in Q2, and returned $146 million to shareholders through its quarterly dividend. Cash and cash equivalents at the end of the quarter totaled $787 million.

4. 04

   The company declared a quarterly cash dividend of $0.70 per share, payable on April 4, 2024 to shareholders of record as of the close of business on March 21, 2024. For fiscal Q3, Seagate guided to revenue of $1.65 billion (plus or minus $150 million) and non-GAAP diluted EPS of $0.25 (plus or minus $0.20).

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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