=Seagate Technology (STX) reported earnings on Tue 28 Jul 20 (a/h)

Seagate Tech misses by $0.03, misses on revs; guides Q1 EPS below consensus, revs below consensus

Reports Q4 (Jun) earnings of $1.20 per share, $0.03 worse than the S&P Capital IQ Consensus of $1.23; revenues rose 6.2% year/year to $2.52 bln vs the $2.62 bln S&P Capital IQ Consensus.

Co issues downside guidance for Q1, sees EPS of $0.70 to $1.00 vs. $1.27 S&P Capital IQ Consensus; sees Q1 revs of $2.10 bln to $2.50 bln vs. $2.59 bln S&P Capital IQ Consensus.

Earnings this week : July 27 - 31, 20 (wk 31)

Monday (July 27)

• Afternoon: AGNC ARE AMKR BRO CATY CINF FIX CR EHC FFIV HSTM HTLF HXL IBTX JJSF JBT MEDP NOV NXPI OGS OMF PCH PFG QTS RNST SSD TCF TNET TBI UHS VCRA

Tuesday

• Morning: MMM MO ARCH AWI ABG B CNC CVLT GLW CMI DHI DTE ECL FBP EBC FELE BEN HOG HUN IVZ IRDM JBLU LH LW MLM MCD MDC MSCI NEO EDU OMC PFE PII PRLB RTX ROK ROP SPGI ST SHW SSTK SITC TRU TPB WAB WDR XRX YNDX ZBRA
• Afternoon: ACCO AMD AFL AKAM AMED AMGN APAM ASH ATRC CAR AXS BE BGFV BXP BYD CHRW CE CB CYH CSGP DENN DXCM EGP EBAY EIX ENVA EQR EEFT FEYE FCF FTV THG HA HP HIW IMAX JNPR KAI LSCC MASI MTDR MXIM MDLZ MPWR MRC NCR NWE OMCL OKE PKG PEGA PKI PLT RNR RXN STX SSNC STAG SBUX SYX TENB TRMK UDR UMBF UNM V WRE WH

Wednesday

• Morning: AAN AER ALKS ANTM APHA ADP AXTA BKU BDC BXMT BA BSX BCO BG CCJ CLS GIB CHEF CME CRTO DIN DT ETN ENB ETR EPD FSS FDP GRMN GD GE GM HES IPG JHG LIVN MHO MGLN MTOR MNRO NYCB NSC OC PAG PB RDWR ROL RES R SAIA SNY SC SMG SHOP SLAB SITE SIX SPOT TSEM FLOW SMP SHOO TROW TEL MEET TT UMC UTHR WNC WING

• Afternoon: AEGN AEM AGI ALGT AMP NLY AM AR APA ACGL ADM ASGN AVB AVTR AX BHE BLKB WHD CERN CAKE CHE CHDN CDE CGNX CTSH CXO CNMD CCI CONE DORM DRE WIRE EQIX EQC FB FICO FBHS FCPT GNW HOLX HPP PI INOV ISBC KRC KGC KN KLIC LRCX MTSI MANT VAC MGRC MMSI MAA MKSI MOBL MC MSA EGOV ORLY OII OIS PGRE PYPL PDM PPC PS PTC QRVO QCOM RJF SANM SIGI SCI NOW SIMO SKY SFM SRI RGR FTI TDOC TTEK TSE TROX TTMI TYL UCTT URI VICI WRI WERN WPX YUMC

Thursday (July 30)

• Morning: AOS ALXN AMT BUD APO APTV AZXN BAX BPMC BC CWT CRAI CI CLF COHU CMCSA COP COR CROX DAN DBD DNKN DD EXP ELAN LLY ES FMS FCN GNRC GPC GIL GPI GRUB HBI HGV IP ITGR ICE K KDP KEX KHC LNTH LKQ MMP MMC MA MPW MD MGPI TAP MCO MYE NTCT NEM NOC NVCR ODFL OSK OSTK PATK PRFT PBI PQG PG PFS RGEN RDS.A SNDR SIRI SM SAH SO SWK SF TMHC TRP TFX TPX TNC TXT TW TRS UPS GRA WM WEX YUM
• Afternoon: TWOU EGHT AIMT MDRX GOOG ATUS AMZN AAPL ATR ACA AJG TEAM BGA BAND BIO BEAT BRKS BVN BLDR COG CPT CC CXP COLM OFC CUZ CVA CACC CRY DVA DECK DLX DLR DRQ LOCO EA EBS NVST EXAS EXPE EXPO FHI FLEX FND FLS F FORM FTAI FWRD GLPI GILD HIG HTGC HTH HOPE HST HUBG MX MTZ MELI MGM MTX MITK MHK MOH PFPT PRO QDEL RP RDFN SGEN SHAK SKYW SPSC SYK TNDM X VRTX VRTU INT WWE XLNX XPO ZEN

Friday (July 31)

• Morning: ABBV AXL AON BCPC BERY BAH CAT CBOE CBRE CHTR CVX CHD CL CTS D XOM FCAU GT IDXX ITW MRK NOK NWL NVT PBF PSX PSXP PINS PNM SNA SPB UAA VFC WPC WETF

Earnings spotlight:

• Avery Dennison (NYSE:AVY), Hasbro (NASDAQ:HAS) and NXP Semi (NASDAQ:NXPI) on July 27; 
• Centene (NYSE:CNC), McDonald's (NYSE:MCD), Pfizer (NYSE:PFE), 3M (NYSE:MMM), Altria (NYSE:MO), Visa (NYSE:V), Starbucks (NASDAQ:SBUX), eBay (NASDAQ:EBAY) and Mondelez International (NASDAQ:MDLZ), AMD (NASDAQ:AMD) and Raytheon Technologies (NYSE:RTX) on July 28; 
• Boeing (NYSE:BA), General Electric (NYSE:GE), General Motors (GPhillM), General Dynamic (NYSE:GD), Boeing (BA), Spotify (NYSE:SPOT) Facebook (FB), PayPal (NASDAQ:PYPL), Archer Daniels Midland (NYSE:ADM), Qualcomm (NASDAQ:QCOM), Shopify (NYSE:SHOP) and Yum China (NYSE:YUMC) on July 29; 
• Royal Dutch Shell (NYSE:RDS.A), CIGNA (NYSE:CI), Comcast (NASDAQ:CMCSA), UPS (NYSE:UPS), Procter & Gamble (NYSE:PG), Anheuser-Busch InBev (NYSE:BUD) and Kraft Heinz (NASDAQ:KHC), DuPont (NYSE:DD), Valero Energy (NYSE:VLO), Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL), Ford (NYSE:F), MGM Resorts (NYSE:MGM) and Gilead Sciences (NASDAQ:GILD) on July 30; 
• Exxon Mobil (NYSE:XOM), Phillips 66 (NYSE:PSX), Chevron (NYSE:CVX), Merck (NYSE:MRK) and Caterpillar on July 31.

-=Seagate Tech (STX) reported earnings on Tue 1 May 2018 (b/o)

Seagate Tech beats by $0.13, beats on revs; Board approves $0.63 per share dividend 

• Reports Q3 (Mar) earnings of $1.46 per share, excluding non-recurring items, $0.13 better thanthe Capital IQ Consensus of $1.33; revenues rose 4.8% year/year to $2.8 bln vs the $2.75 bln Capital IQ Consensus.
  • Reported gross margin of 30.8%, net income of $424 million
• Board has approved a quarterly cash dividend of $0.63 per share, which will be payable on July 5, 2018 to shareholders of record as of the close of business on June 20, 2018.

=Seagate Technology (STX) reported earnings on Tue 25 Apr 2017 (a/h)

DUBLIN (AP) _ Seagate Technology PLC (STX) on Wednesday reported fiscal third-quarter net income of $194 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dublin-based company said it had net income of 65 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.10 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The electronic storage maker posted revenue of $2.67 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $2.71 billion.

Seagate shares have risen 32 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 7 percent. The stock has increased 92 percent in the last 12 months.

=Seagate Technology (STX) reported earnings on Tue 24 Jan 2017 (a/h)

Disk drive maker Seagate Technology (STX) late Tuesday reported quarterly earnings that easily topped Wall Street views on the bottom, with the top line also coming in better than expected. Seagate also gave bullish revenue guidance.

Seagate reported revenue of $2.9 billion. That's down 3% from the year-earlier quarter, but that's is smallest percentage decline in nearly two years and it beat the consensus estimate of $2.82 billion. It reported earnings per share minus items of $1.38, up 68% and well above the consensus of $1.08, for its fiscal second quarter ended Dec. 30.

On the post-earnings call, Seagate said it sees current Q3 revenue of about $2.7 billion vs. views for around $2.6 billion. It also expects full-year EPS of "at least $4.50" vs. Wall Street's forecast for $3.77.

Seagate and Western Digital, as the two largest providers of disk drives, have for several years been dealing with lower product demand as consumers shift from desktop PCs to smartphones and tablets.

Both companies have been expanding into chip-based storage, with Western Digital being the most aggressive. Western Digital in May completed its $16 billion acquisition of flash storage provider SanDisk, creating a formidable competitor in both disk drives and flash-chip storage.

Seagate approved a quarterly cash dividend of 63 cents per share, which will be payable on April 5, to shareholders of record as of the close of business on March 22.

• Q3 retail sales grew 13 percent in constant currency, reaching the highest level ever in the Company’s history. Q3 retail sales grew 12 percent in USD.
• Q3 sales were $667 million, up 7 percent compared to Q3 of the prior year, which still included OEM sales.
• Q3 GAAP operating income grew 41% to $96 million, compared to $69 million a year ago. Q3 GAAP earnings per share (EPS) were $0.59, compared to $0.41 a year ago.
• Q3 non-GAAP operating income grew 34% to $99 million, compared to $74 million a year ago. Q3 non-GAAP EPS grew 37% to $0.56, compared to $0.41 a year ago.
• Cash flow from operations for the first nine months of Fiscal Year 2017 was $234 million, compared to $151 million for same period a year ago.

-=Seagate Technology (STX) reported Q1 earnings on Fri 29 Apr 2016 (b/o)

Rosenblatt Securities’s Kinngai Chan today issues cautious words about Seagate Technology (STX) as the company’s shares plummet by 17% following a dour Q2 outlook this morning.

As noted earlier, the company and analysts both see the effect of a shift to cloud computing, and the advent of flash-memory storage taking over from hard drives.

Chan hammers home the importance of the latter, arguing that the entire industry is heading for the proverbial knee in the curve where flash swamps drive sales, including in enterprise shipments:

We continue to have a negative view on the HDD sector in general and STX in particular as we believe cost cutting is not the best medium to a longer term strategy to address the seismic change that is happening in the industry. While STX understands the weakness in the PC client market and is adjusting its manufacturing footprint for this, management has not considered the possi- bility of a further steep function unit TAM contraction due to the cannibalization of the mainstream HDD segment by SSD. We believe the SSD industry is at the cusp of the steepest part of the S-curve growth and we believe that once a 256GB SSD encroaches into the mainstream HDD price point of $40-$45, we will see another steep function decline in the HDD TAM. We believe this fur- ther TAM reduction will result in further negative earnings revision into 2017 for STX.

Unlike competitor Western Digital (WDC), which also disappointed, yesterday, Seagate is not expanding as rapidly into flash, the way Western is with its planned acquisition of SanDisk (SNDK).