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Jun 28, 2024
Seagate Q4 2024 Earnings Report
Seagate's Q4 2024 financial performance showcased revenue growth and strong profitability.
Key Takeaways
Seagate reported a strong Q4 2024 with revenue of $1.89 billion, an 18% increase year-over-year, and GAAP EPS of $2.39 and non-GAAP EPS of $1.05. The company generated $434 million in cash flow from operations and $380 million in free cash flow. Seagate is focused on driving profitability and executing its mass capacity product roadmap in fiscal year 2025.
Revenue reached $1.89 billion, reflecting an 18% year-over-year increase.
GAAP diluted EPS was reported at $2.39, while non-GAAP diluted EPS stood at $1.05.
The company generated $434 million in cash flow from operations and $380 million in free cash flow.
Seagate returned $147 million to shareholders through dividends.
Forward Guidance
For fiscal first quarter 2025, Seagate expects revenue of $2.10 billion, plus or minus $150 million, and non-GAAP diluted EPS of $1.40, plus or minus $0.20.
Positive Outlook
- Revenue expected to be $2.10 billion, plus or minus $150 million.
- Non-GAAP diluted EPS projected at $1.40, plus or minus $0.20.
- Guidance excludes known pre-tax charges related to estimated share-based compensation expenses of $0.16 per share.
- Focus on profitability and maintaining supply discipline.
- Continued execution of mass capacity product roadmap anchored by HAMR technology.
Challenges Ahead
- 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 charges, and income tax adjustments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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