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MU 10-Q filed 2026-06-25 | Key takeaways
MU filed its 10-Q; the most relevant disclosure change is added Strategic customer agreements: Q3 10-Q adds a new Industry Conditions section titled 'Strategic Customer Agreements' and a related MD&A liquidity paragraph stating that Micron has entered into multi-year take-or-pay strategic customer agreements in the third and fourth quarters of FY2026, w. Customer concentration: Undisclosed customer (primarily in CMBU segment) represented 10% of revenue.
MU Post-Call: Strategic Customer Agreements (SCAs) Lock in $100B RPO; Pricing Floors Set New Margin Paradigm
Micron’s management used the Q3 FY2026 call to unveil a fundamental transformation of its business model through 16 newly signed Strategic Customer Agreements (SCAs). These multi-year contracts, covering roughly 20% of DRAM and 33% of NAND volumes through 2030, have established a staggering $100 billion in Remaining Performance Obligations (RPO). Most significantly, management revealed that these agreements include pricing floors designed to maintain gross margins well above historical cycle peaks, even in downt...
Micron Appoints Dr. Alexis Black Björlin to Board of Directors
On June 9, 2026, Micron Technology, Inc. announced the appointment of Dr. Alexis Black Björlin as a member of its Board of Directors, effective the same date. The Board has determined Dr. Björlin to be an independent director under Nasdaq rules, and she was also appointed to the Board's Governance and Sustainability Committee. Following her appointment, the Board will have nine directors, eight of which are independent. The prior guidance context supplied (Q1 FY2026 revenue, EPS, and margin guidance) is not appl...
Presenting at 2026 J.P. Morgan Global Technology, Media and Communications Conference
Micron Technology will present at the 2026 J.P. Morgan Global Technology, Media and Communications Conference on May 20, 2026 at 8:40 AM EDT. The presentation will be webcast and includes standard forward-looking statements disclaimer.
Micron Registers $120 Million of Deferred Compensation Obligations Under Amended Plan
Micron Technology, Inc. filed a Form S-8 registration statement to register $120,000,000 of unsecured deferred compensation obligations arising under the Micron Technology, Inc. Deferred Compensation Plan (amended effective October 23, 2023). The plan is an unfunded, non-qualified deferred compensation arrangement intended to comply with Section 409A of the Internal Revenue Code. Participants may elect to defer up to 75% of eligible base compensation and up to 100% of eligible bonus compensation, with employer c...
Micron Completes Tender Offers for $5.4 Billion of Senior Notes
Micron Technology completed cash tender offers for six series of senior notes totaling $5.4 billion in outstanding principal. As of expiration on March 31, 2026, approximately $4.31 billion aggregate principal amount was validly tendered across all series, with settlement expected on April 3, 2026. The tender offers were priced at premiums ranging from $48.11 to $79.93 per $1,000 principal amount, reflecting fixed spreads over reference U.S. Treasury securities plus 20 to 65 basis points.
Micron announces cash tender offers for $5.4 billion of senior notes
Micron Technology, Inc. announced cash tender offers to purchase any and all of six series of outstanding senior notes totaling approximately $5.4 billion in aggregate principal outstanding. The tender offers cover 5.300% Senior Notes due 2031, 5.650% Senior Notes due 2032, two series of 5.875% Senior Notes due 2033, 5.800% Senior Notes due 2035, and 6.050% Senior Notes due 2035. The offers expire at 5:00 p.m. New York City time on March 31, 2026, with settlement expected on April 3, 2026.
Micron Q2 FY2026 Revenue $23.86B, EPS $12.07; Beats Guidance by Large Margins
Micron Q2 FY2026 beat guidance by wide margins across all key metrics: revenue of $23.86 billion far exceeded the prior guidance midpoint of $11.2 billion (beat by +$12.66B or +113%), GAAP diluted EPS of $12.07 beat the prior midpoint of $2.64 by +$9.43 per share (+357%), and GAAP gross margin of 74.4% substantially exceeded the prior midpoint of 43.5% (+30.9 points). The company raised full-year FY2026 revenue guidance to a record $48.2 billion, up significantly from the prior estimate of $40.2 billion. Net inc...
MU Post-Call: AI Supply Constraints Through CY26; HBM4 Ramping for NVIDIA Vera Rubin
Micron’s fiscal Q2 2026 call signaled a structural shift in the memory industry, moving beyond cyclical recovery into an AI-driven era of chronic supply constraints. Management provided a staggering Q3 revenue guide of $33.5B—a figure that exceeds any full-year revenue in the company's history prior to fiscal 2024. The incremental call color centered on the commencement of HBM4 volume shipments for NVIDIA’s Vera Rubin platform and the signing of a landmark five-year Strategic Customer Agreement (SCA), which mana...
Micron Technology to Report Fiscal Second Quarter Results on March 18, 2026
Micron Technology announced its fiscal second quarter earnings conference call will be held on Wednesday, March 18, 2026, at 2:30 PM Mountain time. The call will be webcast live and replays will be accessible from Micron's Investor Relations website for approximately one year after the call. This is an event announcement; no actual financial results or guidance were disclosed.
MU Q2 FY2026 GAAP Revenue $23.86 billion, Beat Guidance by +$5.16B
MU beat prior Q2 FY2026 GAAP Revenue guidance by +$5.16B. Revenue increased 197% year-over-year from $8.05 billion. The company guided Q3 FY2026 revenue of $33.5 billion (±$750 million) with non-GAAP gross margin of approximately 81% and non-GAAP EPS of $19.15 (±$0.40).
MU 10-Q for Q1 FY2026 filed 2025-12-18 | Key takeaways
MU filed its 10-Q; the most relevant disclosure change is reduced liquidity debt: Long-term debt reduced to $11.19 billion from $14.02 billion; debt prepayments of $2.82 billion completed in October 2025. Customer concentration: a disclosed customer represented over 50% of revenue; a disclosed customer represented approximately 50% of revenue.
MU Q1 FY2026 Revenue $13.64 billion, Beat Guidance by +$1.14B
MU beat prior Q1 FY2026 Revenue guidance by +$1.14B. For Q2 FY2026, the company guided revenue of $18.70 billion (±$400 million), non-GAAP gross margin of 68.0% (±1.0%), and non-GAAP diluted EPS of $8.42 (±$0.20).
MU 10-K for FY2025 filed 2025-10-03 | Key takeaways
MU filed its 10-K; the most relevant disclosure change is added segment disclosure: New segment structure with four business units: CMBU ($13.52B revenue), CDBU ($7.23B revenue), MCBU, and AEBU ($4.75B revenue). CMBU focused on hyperscale cloud and HBM for all data center customers. Customer concentration: a disclosed customer represented 17% of revenue.
MU Q4 FY2025 Revenue, Beat Guidance by +$500 million vs prior midpoint
MU beat prior Q4 FY2025 Revenue guidance by +$500 million vs prior midpoint. Non-GAAP gross margin guidance was increased to 44.5% midpoint from 42.0% prior midpoint. The revised guidance reflects improved pricing, particularly in DRAM, and strong execution.
Micron Adopts Amended and Restated Bylaws with Updated Delaware Forum Provision
Micron Technology's Board of Directors adopted Amended and Restated Bylaws effective July 17, 2025, updating the company's Delaware exclusive forum provision to reflect changes in Delaware law. The amendments also include other ministerial, clarifying, and conforming changes to the bylaws. This governance filing does not contain financial results or guidance for any period.
MU 10-Q for Q3 FY2025 filed 2025-06-26 | Key takeaways
MU filed its 10-Q; the most relevant disclosure change is expanded segment disclosure: Segment structure will change from three to four reportable segments: Cloud Memory Business Unit (memory solutions for large hyperscale cloud customers and HBM for all data center customers), Core Data Center Business Unit (memory solutions for OEM data center. Customer concentration: Undisclosed Customer represented 16% of revenue; Data Center and Networking Market represented 55% of revenue.
MU Q3 FY2025 Revenue $9.30 billion, Beat Guidance by +$500.0M
MU beat prior Q3 FY2025 Revenue guidance by +$500.0M. Revenue grew 36.5% year-over-year from $6.81 billion, driven by record quarterly revenue, near 50% sequential growth in HBM revenue, and data center revenue that more than doubled year-over-year.
Micron Announces Approximately $200 Billion Expanded U.S. Investment in Memory Manufacturing and R&D
Micron Technology announced plans to invest approximately $200 billion in U.S. semiconductor manufacturing and R&D, including an additional $30 billion beyond prior plans. The company entered into amendments to existing CHIPS Act direct funding agreements for Idaho and New York fabs totaling $6.1 billion, and a new $275 million Virginia funding agreement, bringing total CHIPS Act grants to up to $6.44 billion. The investments include a second leading-edge memory fab in Boise, Idaho; expansion and modernization o...
Micron completed a $1.75 billion senior notes offering comprising $500 million of 5.65% notes due 2032 and $1.25 billion of 6.05% notes due 2035. Proceeds will be used to redeem the company's existing $900 million 4.185% Senior Notes due 2027 and terminate related interest rate swaps, with any remainder for general corporate purposes. The redemption of the 2027 Notes will be at 100% of principal plus a make-whole premium and accrued interest.