Micron (MU) Q2 2026 (USD): adj. EPS 12.20 (exp. 8.74), Revenue 23.9bln (exp. 19.13bln)

• Q2 investments in capex was USD 5.0bln


• Q2 adj. FCF was USD 6.9bln


• Ended the quarter with cash, marketable investments, and restricted cash of USD 16.7bln

COMMENTARY:

• Exec says results were driven by a strong demand environment, tight industry supply, and strong execution


• Expects significant records again in fiscal Q3


• Says in the AI era, memory has become a strategic asset for customers, is investing in global manufacturing footprint to support their growing demand.


• Reflecting confidence in the sustained strength of the business, board approved a 30% increase in quarterly dividend, to USD 0.15/shr.

GUIDANCE:

• Q3 adj. EPS view 18.75-19.55 (exp. 12.03)


• Q3 Rev. view 32.75-34.25bln (exp. 24.3bln)


• Expects DRAM and NAND industry bit demand in 2026 to be constrained by supply, supply-demand conditions to remain tight beyond 2026


• Expects 2026 capex to be above USD 25bln


• Expects construction-related capex to increase by over USD 10bln Y/Y


• Expects higher equipment spend Y/Y in FY27

Reaction details (20:11)

• Shares initially rose as much as 1.8% in afterhours trading, as it beats in Q2 and guides strongly for Q3, before paring gains, and slipping into negative territory following its guidance on capex.

18 Mar 2026 - 20:00- ForexImportant- Source: Micron