AI English summary of an SEC filing — figures as filed
Seagate Technology STXSeagate Technology shipped 151 exabytes of HDD storage capacity in the December 2024 quarter and reported revenue of approximately $2.3 billion, a gross margin of 34.9%, operating cash flow of $221 million and dividend payments of $148 million.
Key points
AI summarySeagate Technology shipped 151 exabytes of HDD storage capacity in the December 2024 quarter and reported revenue of approximately $2.3 billion, a gross margin of 34.9%, operating cash flow of $221 million and dividend payments of $148 million.
The company said revenue in the December 2024 quarter increased by $157 million compared to the September 2024 quarter and by $770 million compared to the December 2023 quarter, citing as factors an increase in mass capacity exabytes shipped driven by demand for nearline products and pricing actions undertaken by the company.
Seagate said cash and cash equivalents as of December 27, 2024 decreased by $120 million from June 28, 2024, with dividend payments of $295 million and capital expenditures of $139 million partially offset by operating cash flow of $316 million.
The company said it held approximately $1.2 billion in cash and cash equivalents as of December 27, 2024 and $1.5 billion available for borrowing under its Revolving Credit Facility, and fully repaid $479 million of its long-term debt principal of $5.7 billion at maturity on January 2, 2025.
Key figures
Quarter ended December 27, 2024
- Revenue
- $2.3B
- Operating income
- $488M
- Net income
- $336M
- EPS
- $1.55
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis 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.
December 2024 Quarter Shipments, Revenue and Operating Cash Flow
Seagate Technology shipped 151 exabytes of HDD storage capacity in the December 2024 quarter and reported revenue of approximately $2.3 billion, a gross margin of 34.9%, operating cash flow of $221 million and dividend payments of $148 million.
Source · Based on the MD&A text of the filing
Company Explanation of Revenue Growth
The company said revenue in the December 2024 quarter increased by $157 million compared to the September 2024 quarter and by $770 million compared to the December 2023 quarter, citing as factors an increase in mass capacity exabytes shipped driven by demand for nearline products and pricing actions undertaken by the company.
Source · Based on the MD&A text of the filing
Cash Changes for the 6 Months
Seagate said cash and cash equivalents as of December 27, 2024 decreased by $120 million from June 28, 2024, with dividend payments of $295 million and capital expenditures of $139 million partially offset by operating cash flow of $316 million.
Source · Based on the MD&A text of the filing
Liquidity Sources and Long-Term Debt Repayment
The company said it held approximately $1.2 billion in cash and cash equivalents as of December 27, 2024 and $1.5 billion available for borrowing under its Revolving Credit Facility, and fully repaid $479 million of its long-term debt principal of $5.7 billion at maturity on January 2, 2025.
Source · Based on the MD&A text of the filing
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.
Loading the filing text…