Micron earnings date September 30 — a $50 billion guide, 5x a year earlier
Micron will report its fiscal fourth-quarter 2026 results after the US market closes on Wednesday, September 30, 2026, with a conference call at 2:30 p.m. Mountain time (4:30 p.m. Eastern). Its guidance calls for revenue of 50 billion dollars, plus or minus 1 billion, a gross margin of about 86 percent and non-GAAP earnings of 31 dollars a share, plus or minus 1 dollar. The previous quarter's revenue was 41.46 billion dollars, against 9.30 billion in the same quarter a year earlier. Micron reports about a month before Samsung and SK hynix, so what it says about HBM and DRAM prices is read as the first signal for the whole memory industry
The three lines
- When — Wednesday, September 30 after the close; call at 2:30 p.m. Mountain (4:30 p.m. ET); webcast at investors.micron.com
- Baseline — guide of 50 billion dollars (±1 billion), ~86% gross margin, 31 dollars non-GAAP EPS; the market expects about 50.4 billion and 30.90
- Watch — next-quarter guidance, DRAM price durability, HBM4 customer conversion, 2027 capex; an early read for Samsung and SK hynix
Key questions
- When does Micron report earnings
- **After the US close on Wednesday, September 30, 2026.** | Item | Detail | |---|---| | Results | fiscal Q4 2026, after market close Sept 30 | | Call | 2:30 p.m. Mountain / **4:30 p.m. Eastern** | | Seoul time | 5:30 a.m., Thursday October 1 | | Webcast | investors.micron.com | Micron announced the date on August 26. Replays stay on its investor site for about a year.
- What is Micron's fiscal Q4 2026 guidance
- **50 billion dollars in revenue; the market expects slightly more.** | Item | Fiscal Q3 actual | Q4 guidance | Market expectation | |---|---|---|---| | Revenue | 41.46 billion dollars | **50.0 billion ±1.0 billion** | about 50.4 billion | | Non-GAAP gross margin | 84.9% | about **86%** | about 86% | | Non-GAAP EPS | 25.11 dollars | **31.00 ±1.00** | about 30.90 | | GAAP net income | 28.24 billion dollars | — | — | **Results inside the guided range are already priced in.** What usually moves the stock is **next quarter's guidance.** Shares jumped 14.6% after the fiscal Q3 report.
- What does Micron's report mean for Samsung and SK hynix
- **Micron reports first among the big three memory makers, so it is the industry's early signal.** | What Micron says | What it signals | |---|---| | DRAM price outlook | Samsung and SK hynix DRAM profits | | HBM contracts | SK hynix's HBM pricing power | | Capex plans | 2027 supply growth, and so prices | | Enterprise SSD orders | NAND conditions | Micron said last quarter that **HBM3E and HBM4 are booked through 2027.** SK hynix began HBM4 volume shipments in Q2 and Samsung has started commercial shipments. South Korea's chip exports rose 259% in September 1–20 on the same demand.
Micron's fiscal fourth quarter is the memory industry's report card, delivered a month early. Micron reports results for June through August after the US market closes on September 30, 2026.
1. Schedule
| Item | Detail |
|---|---|
| Results | after market close, Wednesday Sept 30 |
| Call | 2:30 p.m. Mountain / 4:30 p.m. Eastern |
| London | 9:30 p.m. Sept 30 |
| Seoul / Tokyo | 5:30 a.m. Thursday Oct 1 |
| Webcast | investors.micron.com |
Micron's fiscal year ends in late August, so it reports about a month before Samsung and SK hynix release their July–September numbers.
2. The baseline — guidance and expectations
| Item | Q3 a year earlier | Fiscal Q3 2026 | Q4 guidance | Market expects |
|---|---|---|---|---|
| Revenue | 9.30 billion dollars | 41.46 billion | 50.0 billion ±1.0 | about 50.4 billion |
| Non-GAAP gross margin | — | 84.9% | about 86% | about 86% |
| Non-GAAP EPS | — | 25.11 dollars | 31.00 ±1.00 | about 30.90 |
| GAAP net income | — | 28.24 billion | — | — |
A year ago quarterly revenue was 9.3 billion dollars; the guide is now 50 billion. A gross margin of 86% is almost unheard of for a memory maker: 14 dollars of cost for every 100 dollars of sales. Memory is in a phase where selling prices are rising far faster than production costs.
Numbers inside the guided range are already in the stock price. The market is watching next quarter's guidance.
3. Five things to watch
| # | Item | Why it matters |
|---|---|---|
| 1 | Fiscal Q1 2027 guidance | whether AI demand keeps carrying growth |
| 2 | DRAM price durability | whether margins climb past 86% or turn |
| 3 | HBM4 customer conversion | whether test customers become volume orders |
| 4 | Enterprise SSD | whether cloud providers' larger Q4 orders hold |
| 5 | 2027 capex | Q3 capex was 7.1 billion dollars; when new supply arrives |
Number 5 reaches furthest. Memory prices turn when supply catches up with demand. Micron, Samsung and SK hynix are all expanding, so 2027 pricing depends on the three companies' investment plans.
4. Why the rest of the industry is listening
| Micron says | Industry reads |
|---|---|
| DRAM price outlook | Samsung and SK hynix DRAM profits |
| HBM contracts and pricing | SK hynix's negotiating power |
| capex | orders for equipment and materials suppliers |
| SSD orders | NAND conditions |
Micron said last quarter that HBM3E and HBM4 are booked through 2027, with HBM4E volume production planned for 2027. SK hynix started HBM4 volume shipments in Q2 and Samsung has begun commercial shipments. South Korea's chip exports hit 34.1 billion dollars in September 1–20, up 259%. Strong Micron numbers argue the cycle continues; weak guidance reopens the peak debate.
5. Quick answers
| Question | Answer |
|---|---|
| Why does Micron report first? | its fiscal year ends in late August |
| Does beating guidance lift the stock? | next-quarter guidance usually matters more |
| What is HBM? | DRAM stacked vertically for AI bandwidth |
| When is the call? | 4:30 p.m. Eastern, September 30 |
6. What remains unconfirmed
- Market expectations come from one outlet and were not cross-checked with other consensus data.
- Whether Micron will give fiscal 2027 capex figures on this call is unknown.
Sources
- Micron — Micron Technology to Report Fiscal Fourth Quarter Results on September 30, 2026
- SEC — Micron Technology Form 8-K, fiscal Q3 2026 press release
- GlobeNewswire — Micron Technology to Report Fiscal Fourth Quarter Results on September 30, 2026
- TradingKey — Micron Earnings Preview: Five Key Things Memory Investors Need to Watch
- Investing.com — Earnings call transcript: Micron tops Q3 2026 estimates, shares jump 14.6%