Micron Technology, Inc. (MU.US) Fiscal Year 2026 First Quarter Earnings Conference Call
Live time: Dec 18, 2025 01:30
Micron Technology, Inc. (MU.US) Fiscal Year 2026 First Quarter Earnings Conference Call
Live time: 12/18/2025 01:30:00
美光科技公司 (MU.US) 2026 财年第一季度业绩电话会
Summary
00:04
Opening Remarks by Satyakumar
Satyakumar, Head of Investor Relations, welcomes participants to Micron Technology's FY2026 Q1 earnings call. He introduces CEO Sanjay Mehrotra and CFO Mark Murphy, and mentions the webcast and press release available on the investor relations website.
01:33
CEO Sanjay Mehrotra Q1 Performance Overview
CEO Sanjay Mehrotra reports a strong start to FY2026 with revenue, gross margin, and EPS exceeding guidance. Record highs were achieved in total revenue, DRAM, NAND, HBM, and data center revenues.
04:15
CEO Sanjay Mehrotra Future Outlook
CEO Sanjay Mehrotra anticipates significant new records in revenue, gross margin, EPS, and free cash flow for Q2 and the entire fiscal year 2026, driven by strong industry demand and tight supply.
19:07
CFO Mark Murphy Financial Results
CFO Mark Murphy details Q1 financial performance with $13.6B total revenue, a 57% YoY increase, and record free cash flow. DRAM and NAND revenues reached record highs, driven by tight supply and price increases.
27:20
CFO Mark Murphy Q2 Outlook
CFO Mark Murphy provides guidance for Q2 with expected revenue of $18.7B ± $400M, gross margin of 68% ± 100 basis points, and EPS of $84.2 ± $0.20, driven by higher prices and favorable mix.
30:46
LTA Contracts Discussion — Analyst: Timothy Arcuri (UBS)
CEO Sanjay Mehrotra discusses multi-year contracts with major customers, including DRAM and NAND, with more stringent terms and clear commitments.
32:53
Capital Expenditure Plans — Analyst: CJ Muse (Canto Fitzgerald)
CFO Mark Murphy explains the increase in capital expenditure to $20B for FY2026, focusing on DRAM support, particularly HBM and One Gamma, with disciplined growth to match demand.
42:44
Enterprise SSD Demand — Analyst: Holland Sir (JP Morgan)
CEO Sanjay Mehrotra highlights strong enterprise SSD demand driven by AI applications, with multi-year contracts in place to support data center growth.
48:32
HBM Market Position — Analyst: Tom O'Malley (Barclays)
CEO Sanjay Mehrotra expresses confidence in Micron's competitive position in the HBM market, emphasizing industry-leading performance and low power consumption.
53:12
Gross Margin Outlook — Analyst: Chris Sankar (TD Cowen)
CFO Mark Murphy anticipates continued gross margin expansion beyond Q2, driven by strong business growth and cost execution.
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