Press release
Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2023 Financial Results
Fiscal Q4 2023 Highlights Revenue of $1.60 billion GAAP (loss) per share of $(0.44); non-GAAP (loss) per share of $(0.18) Cash flow from operations of $218
About this update from Seagate Technology Holdings Plc
[{"type":"text","content":"\nFiscal Q4 2023 Highlights\n\n\n\nRevenue of $1.60 billion\n\n\n\nGAAP (loss) per share of $(0.44); non-GAAP (loss) per share of $(0.18)\n\n\n\nCash flow from operations of $218 million and free cash flow of $168 million\n\n\n\nDeclared cash dividend of $0.70 per share\n\n\n\nFiscal Year 2023 Highlights\n\n\n\nRevenue of $7.38 billion\n\n\n\nGAAP (loss) per share of $(2.56); non-GAAP diluted earnings per share (EPS) of $0.19\n\n\n\nCash flow from operations of $942 million and free cash flow of $626 million\n\n\n\nReturned $990 million to shareholders through dividends and share repurchases\n\n\n\n FREMONT, Calif.--(BUSINESS WIRE)--\nSeagate Technology Holdings plc (NASDAQ: STX) (the “Company” or “Seagate”) today reported financial results for its fiscal fourth quarter and fiscal year ended June 30, 2023.\n\n\n“Our fourth quarter and fiscal 2023 performance reflected the uneven pace of economic recovery in China, cloud inventory digestion, and cautious enterprise spending amid the uncertain macroeconomic environment. The proactive actions we’ve taken to lower costs, manage production output, reduce debt and drive operational leverage have underpinned resilient performance and solid cash generation, while continuing to advance our revolutionary HAMR technology,” said Dave Mosley, Seagate’s chief executive officer.\n\n\n“Through our actions, Seagate is now leaner, our balance sheet healthier, and our product roadmap even stronger, positioning the company to weather the near-term business environment, deliver financial leverage, and capture attractive long-term opportunities for Mass Capacity storage.”\n\n\nQuarterly Financial Results\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n\nNon-GAAP\n\n\n\n\n\n\n\n\n\nFQ4 2023\n\n\n\n\n\n\n\nFQ4 2022\n\n\n\n\n\n\n\nFQ4 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nFQ4 2022\n\n\n\n\n\n\n\n\nRevenue ($M)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,602\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,628\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$ \n\n\n\n\n\n\n1,602\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,628\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross Margin\n\n\n\n\n\n\n19.0\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n28.9\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n19.5\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n29.3\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nOperating Margin\n\n\n\n\n\n\n1.6\n\n\n\n\n\n...