Seagate Technology Holdings Public Limited Company filed its Form 10-Q for the quarterly period ended October 2, 2026 with the U.S. Securities and Exchange Commission, reporting results for the first fiscal quarter of its 2027 fiscal year.

Key Highlights

  • Revenue of $4,233 million for the three months ended October 2, 2026, compared with $2,629 million for the three months ended October 3, 2025, according to the filing.
  • Net income of $1,761 million for the quarter, up from $549 million in the year-ago period, as reported in the condensed consolidated statements of operations.
  • Diluted earnings per share of $7.59 for the quarter, compared with $2.43 in the prior-year quarter, based on 232 million diluted shares.
  • Net cash provided by operating activities was $1,690 million, versus $532 million in the comparable prior-year quarter.
  • Debt repayment of $1,262 million in redemption and repurchase of debt during the quarter, reducing long-term debt from $3,380 million to $2,351 million.
  • Share repurchases of $400 million and dividends of $0.74 per ordinary share were recorded during the quarter, according to the shareholders' equity statement.
  • 229,561,109 ordinary shares outstanding as of October 26, 2026, as stated on the filing cover page.

Seagate's October 2026 Quarter: Key Financial Results and Balance Sheet Changes

According to the Form 10-Q filed by Seagate Technology Holdings Public Limited Company (NASDAQ:STX) for the quarterly period ended October 2, 2026, the company reported revenue of $4,233 million, a significant increase from $2,629 million in the three months ended October 3, 2025. Income from operations reached $2,064 million in the current quarter, compared with $694 million a year earlier. The provision for income taxes was $221 million, resulting in net income of $1,761 million.

The filing shows total assets of $10,326 million as of October 2, 2026, up from $9,972 million at July 3, 2026. Cash and cash equivalents declined to $1,258 million from $1,704 million, reflecting substantial financing outflows. The company reported redemption and repurchase of debt totaling $1,262 million, repurchases of ordinary shares of $400 million, and dividends to shareholders of $168 million during the quarter. Long-term debt, less current portion, decreased to $2,351 million from $3,380 million at the prior fiscal year-end. Total shareholders' equity improved to $3,453 million from $2,167 million, driven primarily by net income of $1,761 million, partially offset by the share repurchases, dividends, and other items disclosed in the equity statement.

The filing notes a net loss from debt transactions of $44 million and interest expense of $41 million for the quarter. Capital expenditures for acquisition of property, equipment and leasehold improvements were $211 million. Share-based compensation expense was $63 million, as reflected in the cash flow statement. The company recorded restructuring and other, net charges of $4 million. The accumulated deficit narrowed to $4,737 million at October 2, 2026 from $5,911 million at July 3, 2026.

What Was Disclosed

Seagate Technology Holdings filed its quarterly report covering the three months ended October 2, 2026, disclosing revenue of $4,233 million, net income of $1,761 million, $1,262 million in debt repayments, and $400 million in share repurchases, along with full balance sheet and cash flow statements.