Micron Posts Record Fiscal 2026 Results and Guides Well Above Estimates for Q1 2027

Micron Technology reported record fiscal fourth-quarter and full-year 2026 results on Wednesday, beating analyst expectations on both revenue and earnings as surging AI-driven demand for memory chips continues to propel the company. Adjusted earnings per share came in at $33.42 for the quarter, topping the LSEG consensus estimate of $31.61 by $2.26, while revenue of $54.23 billion surpassed the expected $51.07 billion and nearly quadrupled from $11.32 billion in the same quarter a year earlier. For the full fiscal year 2026, Micron posted revenue of $133.19 billion versus $37.38 billion the prior year, with GAAP net income of $84.97 billion, or $74.33 per diluted share, and operating cash flow of $89.68 billion.

Looking ahead, Micron guided fiscal first-quarter 2027 revenue of approximately $61.5 billion and adjusted EPS of $38.15, well above analyst forecasts of $57 billion in revenue and $35.40 in adjusted EPS. CEO Sanjay Mehrotra attributed the outlook to accelerating AI adoption, describing memory as a critical enabler of what he called "Super Intelligence," and said the company is expanding investments in technology, manufacturing and strategic customer agreements to meet the demand. Micron shares rose in extended trading after the report, though ZeroHedge noted that a slight margin miss tempered the initial reaction.

Mehrotra had met with President Donald Trump at the White House the day before the earnings release, attending an AI regulation summit shortly after a White House dinner with Chinese President Xi Jinping.