Micron Earnings Set for Sept. 30 Report
Micron earnings due Sept. 30; guidance sets a high bar for revenue, margins and EPS as AI memory demand tightens supply, shaping trader positioning.
KEY TAKEAWAYS
- Micron is scheduled to report fiscal Q4 2026 after the U.S. market close on Sept. 30, 2026.
- Guidance calls for about $50.0 billion revenue ± $1.0 billion, 86.0% margin and $31.0 non-GAAP EPS ± $1.0.
- Company materials said DRAM and NAND demand significantly exceeded supply, underpinning beat-and-raise debate.
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Micron Technology (MU) will report fiscal fourth-quarter 2026 results after the U.S. market close on September 30, 2026 (ET). The company’s previously disclosed guidance sets a high bar for revenue, margins, and non-GAAP earnings per share (EPS) as artificial-intelligence (AI) memory scarcity tightens industry supply.
Guidance and Results Backdrop
Micron’s fiscal fourth-quarter 2026 guidance calls for approximately $50.0 billion in revenue, plus or minus $1.0 billion; an 86.0% non-GAAP gross margin; and about $31.00 in non-GAAP diluted EPS, plus or minus $1.00. The quarter covers the period ending in August 2026.
In its June 24, 2026 fiscal third-quarter release, Micron reported revenue of $41.46 billion, GAAP net income of $28.24 billion (GAAP diluted EPS $24.67), and non-GAAP EPS of $25.11. GAAP gross margin rose to 84.6% in the quarter from 74.4% in the prior quarter and 37.7% a year earlier. The company said demand for both dynamic random-access memory (DRAM) and NAND flash memory continued to significantly exceed industry supply. Datacenter revenue topped $25 billion, with datacenter solid-state drive (SSD) revenue exceeding $5 billion.
Micron’s chief financial officer, Mark Murphy, said in prepared remarks tied to the June release, “Our fiscal Q4 gross margin outlook reflects a meaningful moderation in the rate of price increases.” This comment will focus attention on margin execution against guidance.
AI Memory Demand and Supply
Micron’s exposure to AI-related datacenter spending is central to market expectations. High-bandwidth memory (HBM) and DRAM are seen as direct beneficiaries of rising AI datacenter buildouts. The company’s reported supply constraints and strong demand underpin optimism that results could exceed guidance and prompt upward revisions.
Estimates and Calendar Effects
External estimates for the quarter vary, with EPS projections clustering in the low $31.00s and revenue forecasts ranging from about $50.5 billion to $51.2 billion. One analysis noted that fiscal fourth quarter 2026 included an extra week, which may affect year-over-year comparisons. Secondary previews cited expected fiscal 2026 capital expenditures near $27 billion, with higher spending anticipated the following fiscal year.
A Micron Form 8-K filing dated September 23, 2026, appears in SEC records, but its contents have not been publicly detailed. Forward expectations for fiscal first quarter 2027 include revenue of roughly $56.0 billion to $57.0 billion and EPS near $35.00; these are external estimates, not company guidance.
The September 30 report will test whether Micron’s guidance and pricing assumptions hold amid constrained AI-memory supply and will influence near-term revenue, margin, and capital expenditure outlooks.
“Our fiscal Q4 gross margin outlook reflects a meaningful moderation in the rate of price increases.” — Mark Murphy, Micron CFO
