The company said it shipped 138 exabytes of HDD storage capacity in the September 2024 quarter, generating revenue of approximately $2.2 billion with a gross margin of 33%.

1. 01

   The company said it shipped 138 exabytes of HDD storage capacity in the September 2024 quarter, generating revenue of approximately $2.2 billion with a gross margin of 33%.

2. 02

   Seagate said revenue in the September 2024 quarter rose $281 million from the June 2024 quarter and $714 million from the September 2023 quarter. The company cited higher mass capacity exabytes shipped and pricing actions as the factors.

3. 03

   The company said operating cash flow in the September 2024 quarter was $95 million, and that it paid $147 million in dividends and $68 million in capital expenditures, which reduced cash and cash equivalents by $119 million.

4. 04

   The company said it held approximately $1.2 billion in cash and cash equivalents as of September 27, 2024 and $1.5 billion available for borrowing under its Revolving Credit Facility. It said BIS settlement payments of $15 million per quarter will be made over 5 years, with $60 million expected to be paid within 1 year(s).

Key figures

Quarter ended September 27, 2024

Revenue

$2.2B

Operating income

$403M

Net income

$305M

EPS

$1.41

Operating cash flow

$95M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.