Micron Technology Inc (NASDAQ:MU) reported earnings for the first quarter of fiscal 2026 after the bell on Wednesday. Here’s a rundown of the semiconductor company’s report.
- Micron Technology shares are experiencing downward pressure. Why is MU stock retreating?
Q1 Key Details: Micron reported first-quarter revenue of $13.64 billion, topping analyst estimates of $12.83 billion, according to Benzinga Pro. The chip company posted adjusted earnings of $4.78 per share for the quarter, exceeding analyst estimates of $3.95 per share.
Total revenue was up approximately 20.5% on a year-over-year basis. Operating cash flow came in at $8.41 billion versus $5.73 billion in the prior quarter and $3.24 billion in the comparable quarter last year. The company generated $3.9 billion of adjusted free cash flow in the first quarter.
“In fiscal Q1, Micron delivered record revenue and significant margin expansion at the company level and also in each of our business units,” said Sanjay Mehrotra, chairman, president and CEO of Micron.
Micron exited the quarter with $12 billion in cash, marketable investments and restricted cash. The company’s board declared a quarterly dividend of $0.115 per share, payable on Jan. 14, 2026, to shareholders of record as of Dec. 29.
Outlook: Micron sees second-quarter revenue of $18.7 billion, plus or minus $400 million, versus estimates of $14.16 billion. The company anticipates second-quarter adjusted earnings of $8.42 per share, plus or minus 20 cents.
“Our Q2 outlook reflects substantial records across revenue, gross margin, EPS and free cash flow, and we anticipate our business performance to continue strengthening through fiscal 2026,” Mehrotra said.
Micron’s management team will further discuss the quarter on an earnings call scheduled for 4:30 p.m. ET.
MU Price Action: Micron shares were up 6.51% in after-hours, trading at $240.40 at the time of publication on Wednesday, according to Benzinga Pro.
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