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- Micron reported fiscal Q4 adjusted EPS of $33.42 versus estimates of $33.61 — a narrow miss of $0.19 — while revenue of $54.23 billion beat the $51.1 billion consensus by over $3 billion.
- Micron guided fiscal Q1 2027 revenue to $61.5 billion against estimates of $57 billion, a roughly $4.5 billion beat, with EPS guidance of $38.15 versus the $35.40 consensus.
- CEO Sanjay Mehrotra said fiscal 2027 will be "even better" than fiscal 2026, stating outright that memory and storage supply-demand conditions will be "much tighter in fiscal 2027 and 2028 than they were in 2026."
- Micron shares rose 1.1% in after-hours trading following the earnings release and above-consensus guidance.
- Micron's fiscal 2026 closed strong and Mehrotra said industry demand has "strengthened since our last earnings call," extending the bullish setup into the next two fiscal years.
Why it matters: Micron's $61.5 billion Q1 FY27 revenue guide runs about $4.5 billion above the $57 billion consensus, and Mehrotra directly stated memory and storage supply-demand will be "much tighter" in fiscal 2027 and 2028 — concrete confirmation of pricing power that strengthens Micron's margin trajectory and raises input costs for downstream memory buyers.
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