Micron Technology, Inc. (MU) Q4 FY2026 earnings

Reported results

• Fiscal Q4 2026 GAAP net income of $37.70 billion, or $32.87 per diluted share; Non-GAAP net income of $38.40 billion, or $33.42 per diluted share
• Fiscal Q4 2026 revenue of $54.23 billion with GAAP gross margin of 86.8% and Non-GAAP gross margin of 87.0%
• Fiscal Q4 2026 operating cash flow of $43.97 billion; adjusted free cash flow of $33.20 billion
• Full year 2026 GAAP net income of $84.97 billion, or $74.33 per diluted share; Non-GAAP net income of $86.76 billion, or $75.52 per diluted share
• Full year 2026 operating cash flow of $89.68 billion; adjusted free cash flow of $62.31 billion
• Cash, marketable investments, and restricted cash of $73.48 billion at year-end; quarterly dividend of $0.15 per share declared

Guidance

• FQ1-27 GAAP revenue guidance of $61.5 billion ± $1.5 billion
• FQ1-27 GAAP gross margin guidance of approximately 85.95%
• FQ1-27 GAAP operating expenses guidance of approximately $2.31 billion
• FQ1-27 GAAP diluted earnings per share guidance of $37.84 ± $1.00
• FQ1-27 Non-GAAP revenue guidance of $61.5 billion ± $1.5 billion
• FQ1-27 Non-GAAP gross margin guidance of approximately 86.25%
• FQ1-27 Non-GAAP operating expenses guidance of approximately $2.06 billion
• FQ1-27 Non-GAAP diluted earnings per share guidance of $38.15 ± $1.00

Notes

Net cash provided by operating activities reported as $89.68 billion for full year 2026 in the highlights section, but the cash flow statement shows $89.675 billion (rounded to $89.68 billion). Micron ended the year with total cash, marketable investments, and restricted cash of $73.48 billion, calculated as cash and equivalents of $38.364 billion plus short-term investments of $5.070 billion plus long-term marketable investments of $30.019 billion.

Price and volatility reaction

The stock moved +3.0% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -7.1 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-30 (8-K, Item 2.02). Read the original filing on sec.gov.