Management remarks
Call period: 2026 Q4 · 2026-08-05
Guidance: Kris Sennesael: We expect revenue to be $4.1 billion, plus/minus $100 million.Demand and orders: Tiang Yew Tan: If we fast forward that to what we are looking at in terms of what we are discussing with customers on '29, '30, '31, we're working through the specific commercial constructs of the LTAs, but we have a good line of sight and visibility to the volume requirements of our customers that sort of further strengthen our conviction in that 25%-plus exabyte growth.Margins: Kris Sennesael: Strong top line growth, expanding gross margins and leverage in the model drove operating income to $1.66 billion, up 126% year-over-year, translating into a durable operating margin of 44.2%, up 1,610 basis points year-over-year.Analyst Q&A
Analyst Amit Daryanani asked: I guess maybe the first one, is exabyte shipments were up about 21%, I think, year-over-year to 231. That's below the 30% exabyte growth you folks have had in the last several quarters. Can you just talk about, is this a temporary pause related to timing or supply? Management Tiang Yew Tan answered: I think what we've guided to is that exabyte, we see demand growing at above 25%, right, 25% plus going forward. So we clearly have a road map that's designed to support that. That will, again, as I mentioned, similar to margins, be quarter-to-quarter fluctuations in terms of exabyte growth rates depending on the mix of products that we ship. And as we move into the second half of the year, as we really ramp up the 40 terabyte shipments, as I mentioned, that will be over 50% of the nearline exabytes we ship. We expect exabyte growth rate to accelerate.管理层陈述
电话会期间：2026 Q4 · 2026-08-05
指引：克里斯·塞纳塞尔：我们预计2027财年第一季度营收为41亿美元，上下浮动1亿美元。需求与订单：陈天祐：如果我们展望与客户讨论的2029、2030、2031年业务情况，我们正在敲定长期协议的具体商业条款，但我们能够清晰掌握客户的订单量需求，这进一步增强了我们对25%以上EB增长的信心。利润率：克里斯·塞纳塞尔：强劲的营收增长、毛利率扩张以及经营杠杆推动营业收入达到16.6亿美元，同比增长126%，对应稳定的营业利润率为44.2%，同比提升1610个基点。分析师问答
分析师阿米特·达里亚拉尼提问：公司EB出货量同比增长约21%至231EB，低于过去几个季度30%的EB增速，请问这是与出货时机或供应链相关的暂时性停顿吗？管理层回应：我们此前指引EB需求未来将以25%以上的速度增长，EB增速会因出货产品组合出现季度间波动，随着下半年大幅提升40TB硬盘出货量（届时占近线EB出货量50%以上），预计EB增速将加快。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
