MU

EX-99.1

2 a2026q4ex991-pressrelease.htm

EX-99.1 EARNINGS RELEASE

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contacts: Satya Kumar

Mark Plungy

Investor RelationsMedia Relations

satyakumar@micron.com

mplungy@micron.com

(408) 450-6199

(408) 203-2910

MICRON TECHNOLOGY, INC. REPORTS RECORD FISCAL

FOURTH-QUARTER AND FULL-YEAR 2026 RESULTS

AI-driven demand and strong operational execution position Micron for a record fiscal 2027

BOISE, Idaho, September 30, 2026 – Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2026, which ended September 3, 2026.

Fiscal Q4 2026 Highlights

•Revenue of $54.23 billion versus $41.46 billion for the prior quarter and $11.32 billion for the same period last year

•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

•Operating cash flow of $43.97 billion versus $25.39 billion for the prior quarter and $5.73 billion for the same period last year

Fiscal 2026 Highlights

•Revenue of $133.19 billion versus $37.38 billion for the prior year

•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

•Operating cash flow of $89.68 billion versus $17.53 billion for the prior year

“Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027,” said Sanjay Mehrotra, Chairman and CEO of Micron Technology. “AI is becoming Super Intelligence (SI), and memory enhances this intelligence and the competitiveness of our customers’ platforms. We are increasing our investments in technology, products and manufacturing to help drive SI forward with our customers, and our Strategic Customer Agreements provide added confidence in the durability of Micron’s financial performance.”

Quarterly Financial Results

(in millions, except per share amounts)

GAAP(1)

Non-GAAP(2)

FQ4-26FQ3-26FQ4-25FQ4-26FQ3-26FQ4-25

Revenue$54,229 $41,456 $11,315 $54,229 $41,456 $11,315

Gross margin47,047 35,056 5,054 47,204 35,199 5,169

Percent of revenue86.8 %84.6 %44.7 %87.0 %84.9 %45.7 %

Operating expenses3,296 1,738 1,400 2,568 1,518 1,214

Operating income43,751 33,318 3,654 44,636 33,681 3,955

Percent of revenue80.7 %80.4 %32.3 %82.3 %81.2 %35.0 %

Net income37,701 28,243 3,201 38,398 28,857 3,469

Diluted earnings per share32.87 24.67 2.83 33.42 25.11 3.03

1

Annual Financial Results

(in millions, except per share amounts)

GAAP(1)

Non-GAAP(2)

FY-26FY-25FY-26FY-25

Revenue$133,188 $37,378 $133,188 $37,378

Gross margin107,504 14,873 108,032 15,286

Percent of revenue80.7 %39.8 %81.1 %40.9 %

Operating expenses8,164 5,103 6,841 4,440

Operating income99,340 9,770 101,191 10,846

Percent of revenue74.6 %26.1 %76.0 %29.0 %

Net income84,969 8,539 86,758 9,470

Diluted earnings per share74.33 7.59 75.52 8.29

Investments in capital expenditures, net(2) were $10.77 billion for the fourth quarter of 2026 and $27.37 billion for the full year of 2026. Adjusted free cash flow(2) was $33.20 billion for the fourth quarter of 2026 and $62.31 billion for the full year of 2026. Micron ended the year with cash, marketable investments, and restricted cash of $73.48 billion. On September 30, 2026, Micron’s Board of Directors declared a quarterly dividend of $0.15 per share, payable in cash on October 29, 2026, to shareholders of record as of the close of business on October 14, 2026.

Quarterly Business Unit Financial Results

FQ4-26FQ3-26FQ4-25

Cloud Memory Business Unit

Revenue $16,283 $13,769 $4,543

Gross margin 83 %83 %59 %

Operating margin 76 %78 %48 %

Core Data Center Business Unit

Revenue $18,002 $11,524 $1,577

Gross margin 90 %87 %41 %

Operating margin 85 %83 %25 %

Mobile and Client Business Unit

Revenue $13,114 $11,521 $3,760

Gross margin 90 %87 %36 %

Operating margin 88 %86 %29 %

Automotive and Embedded Business Unit

Revenue $6,824 $4,634 $1,434

Gross margin 84 %79 %31 %

Operating margin 79 %75 %20 %

2

Business Outlook

The following table presents Micron’s guidance for the first quarter of 2027:

FQ1-27

GAAP(1) Outlook

Non-GAAP(2) Outlook

Revenue $61.5 billion ± $1.5 billion$61.5 billion ± $1.5 billion

Gross margin Approximately 85.95%Approximately 86.25%

Operating expenses Approximately $2.31 billionApproximately $2.06 billion

Diluted earnings per share $37.84 ± $1.00$38.15 ± $1.00

Further information regarding Micron’s business outlook is included in the prepared remarks and slides, which have been posted at investors.micron.com.

Product Highlights

•We began sampling the industry's first 512GB ultra dense high-capacity DDR5 RDIMM modules capable of speeds up to 9,200 MT/s.

•We have completed multiple customer qualifications of our 1-gamma based, 8,800 MT/s high-speed server RDIMM modules.

•Our industry leading server LPDDR SOCAMM portfolio revenue more than doubled sequentially in the fourth quarter of 2026.

•Our 7600 PCIe Gen 5 and 9650

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