Exhibit 99.1



Investor Relations Contact:

Shanye Hudson, (408) 658-1863


Media Contact:

Gregory Belloni, (408) 658-1018



Fiscal Q4 2019 Highlights



Revenue of $2.37 billion



GAAP diluted earnings per share (EPS) of $3.54; reflects a one-time deferred tax benefit of $702 million



Non-GAAP diluted EPS of $0.86



Cash flow from operations of $448 million and free cash flow of $297 million



Repurchased 7.8 million shares for $350 million



Declared cash dividend of $0.63 per share

Fiscal Year 2019 Highlights



Revenue of $10.4 billion



GAAP diluted EPS of $7.06



Non-GAAP diluted EPS of $4.82



Cash flow from operations of $1.8 billion and free cash flow of $1.2 billion



Returned $1.7 billion to shareholders through dividends and share repurchases

CUPERTINO, CA – August 2, 2019 – Seagate Technology plc (NASDAQ: STX) (the “Company” or “Seagate”) today reported financial results for its fiscal fourth quarter and fiscal year ended June 28, 2019.

“We continued to execute well in the June quarter in the midst of an uncertain global environment. We once again delivered on all of our financial expectations, while driving higher operating profit and earnings per share quarter-over-quarter, and demonstrating our ongoing focus on optimizing free cash flow,” said Dave Mosley, Seagate’s chief executive officer.

“As we enter our next fiscal year, global industry conditions have started to improve, particularly among cloud and hyperscale customers. Seagate is in a strong strategic position to address growing demand for mass storage. In March, we began shipping the industry’s highest capacity 16 terabyte drives. Qualifications are progressing well and we remain on track to ramp production in order to meet future demand. We have also begun to qualify our dual-actuator technology with multiple customers, which doubles drive performance while maintaining the same capacity. Seagate’s strong technology pipeline continues to deliver efficient and cost-effective solutions for customers to manage ever-increasing amounts of data.”

Quarterly Financial Results


     GAAP     Non-GAAP  
     FQ4 2019     FQ4 2018     FQ4 2019     FQ4 2018  

Revenue ($M)

   $ 2,371     $ 2,835     $ 2,371     $ 2,835  

Gross Margin

     26.3     31.9     26.8     32.4

Net Income ($M)

   $ 983     $ 461     $ 239     $ 475  

Diluted Earnings Per Share

   $ 3.54     $ 1.57     $ 0.86     $ 1.62  

The following information was filed by Seagate Technology Plc (STX) on Friday, August 2, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Seagate Technology Plc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Seagate Technology Plc.


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


FREE Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials


Forgot your details?

Create Account