Micron Updates First Quarter Fiscal 2024 Guidance
28 Novembro 2023 - 11:00AM
Micron Technology, Inc. (Nasdaq: MU) (the “Company”) today
announced that it is updating its revenue, gross margin, operating
expense, and EPS guidance for the first quarter of fiscal 2024,
which ends Nov. 30, 2023. The Company previously guided revenue of
$4.4 billion ± $200 million and non-GAAP gross margins of (4.0%) ±
2%. As a result of improved supply and demand balance and improved
pricing, the Company today announced that it expects revenue will
approach $4.7 billion and non-GAAP gross margins will approach
breakeven for the first quarter of fiscal 2024. The Company
announced additional updates as set forth in the tables below.
Micron President and Chief Executive Officer Sanjay Mehrotra and
Executive Vice President and Chief Financial Officer Mark Murphy
will share further updates in a fireside chat at the 2023 UBS
Global Technology Conference in Scottsdale, Arizona scheduled to
take place at 7:35 a.m. Mountain time on Nov. 28, 2023.
The live webcast and subsequent replay of the event can be
accessed from Micron’s Investor Relations website at
http://investors.micron.com.
|
Previous Guidance |
|
Updated Guidance |
|
GAAP Outlook |
|
Adjustments |
|
Non-GAAP Outlook |
|
GAAP Outlook |
|
Adjustments |
|
Non-GAAP Outlook |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
$4.4B ± $200M |
|
— |
|
|
|
$4.4B ± $200M |
|
Approaching $4.7B |
|
— |
|
|
|
Approaching $4.7B |
Gross margin |
(6.0%) ± 2.0% |
|
2% |
|
A |
|
(4.0%) ± 2.0% |
|
(2.5%) to (2.0%) |
|
2% |
|
A |
|
(0.5%) to 0.0% |
Operating expenses |
$1.01B ± $15M |
|
$113M |
|
B |
|
$900M ± $15M |
|
Approximately $1.10B |
|
$113M |
|
B |
|
Approximately $990M |
Diluted earnings (loss) per
share(1) |
($1.24) ± $0.07 |
|
$0.17 |
|
A, B, C |
|
($1.07) ± $0.07 |
|
Approximately ($1.17) |
|
$0.17 |
|
A, B, C |
|
Approximately ($1.00) |
Non-GAAP Adjustments(in millions) |
|
|
|
|
|
|
A |
Stock-based compensation – cost of goods sold |
|
$ |
66 |
|
A |
Other – cost of goods
sold |
|
|
4 |
|
B |
Stock-based compensation –
research and development |
|
|
69 |
|
B |
Stock-based compensation –
sales, general, and administrative |
|
|
44 |
|
C |
Tax effects of the above items
and other tax adjustments |
|
|
(1 |
) |
|
|
|
$ |
182 |
|
(1) GAAP and non-GAAP earnings (loss) per share
based on approximately 1.10 billion diluted shares.
The tables above reconcile our GAAP to non-GAAP guidance based
on the current outlook, with a non-GAAP tax assumption consistent
with previously provided guidance of $80 million. The guidance does
not incorporate the impact of any potential balance sheet valuation
adjustments, tax-related adjustments, or other adjustments to be
made in connection with finalizing our quarterly results. The
timing and impact of such items are dependent on future events that
may be uncertain or outside of our control.
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage
solutions transforming how the world uses information to enrich
life for all. With a relentless focus on our customers, technology
leadership, and manufacturing and operational excellence, Micron
delivers a rich portfolio of high-performance DRAM, NAND and NOR
memory and storage products through our Micron® and Crucial®
brands. Every day, the innovations that our people create fuel the
data economy, enabling advances in artificial intelligence and 5G
applications that unleash opportunities — from the data center to
the intelligent edge and across the client and mobile user
experience. To learn more about Micron Technology, Inc. (Nasdaq:
MU), visit micron.com.
© 2023 Micron Technology, Inc. All rights reserved. Information,
products, and/or specifications are subject to change without
notice. Micron, the Micron logo, and all other Micron trademarks
are the property of Micron Technology, Inc. All other trademarks
are the property of their respective owners.
Forward-Looking Statements
This press release contains forward-looking statements regarding
the Company’s financial and operating results. These
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially.
Please refer to the documents the Company files with the Securities
and Exchange Commission, specifically its most recent Form 10-K and
Form 10-Q. These documents contain and identify important factors
that could cause the Company’s actual results to differ materially
from those contained in these forward-looking statements. These
certain factors can be found at
https://investors.micron.com/risk-factor. Although the Company
believes that the expectations reflected in the forward-looking
statements are reasonable, the Company cannot guarantee future
results, levels of activity, performance, or achievements. The
Company is under no duty to update any of the forward-looking
statements after the date of this press release to conform these
statements to actual results.
Micron Media Relations Contact
Erica Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com
Micron Investor Relations Contact
Satya Kumar
Micron Technology, Inc.
satyakumar@micron.com
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