Recent Updates — WDC
Western Digital reported fiscal first quarter 2027 results with revenue of $4.38 billion, a 55% increase year-over-year, driven by robust customer demand in the AI-driven data economy. GAAP diluted EPS reached $4.63, while non-GAAP diluted EPS rose 161% to $4.64. Gross margins expanded significantly, with non-GAAP gross margin reaching 58.1%. The company also raised its quarterly cash dividend by 17% to $0.175 per share, payable on December 17, 2026, to shareholders of record as of December 4, 2026. Looking ahead, Western Digital expects Q2FY27 revenue to grow 66% to 72% year-over-year, with a midpoint estimate of $5.1 billion and non-GAAP EPS of $5.80. The company builds storage infrastructure solutions for hyperscalers, cloud providers, and enterprises.
Western Digital announced the redemption of all $109.5 million aggregate principal amount outstanding of its 3.00% Convertible Senior Notes due 2028 on November 16, 2026. The notes will be redeemed at 100% of the principal plus accrued interest. Holders may convert notes until November 12, 2026, using a conversion rate of 26.5231 shares per $1,000 principal amount. Western Digital expects substantially all holders to convert; unconverted notes will be redeemed for cash. The company has elected a 0% cash percentage for conversions, meaning it will pay cash up to the principal amount and settle any excess obligation in common stock based on a 40-day average price observation period. This event eliminates the outstanding convertible debt.
Western Digital Corporation entered into privately negotiated exchange agreements with holders of its 3.00% Convertible Senior Notes due 2028 on August 26, 2026. Holders agreed to exchange approximately $191.0 million in aggregate principal amount of notes for consideration consisting of roughly $192.7 million in cash and a number of shares of common stock representing the remaining conversion value based on the volume-weighted average price on August 26, 2026. The transactions are expected to close on or after September 2, 2026, subject to customary closing conditions. Western Digital Corporation manufactures data storage devices and solutions.
Western Digital Corporation reported fiscal fourth quarter and full-year 2026 financial results for the period ended July 3, 2026. Q4 revenue reached $3.75 billion, a 44% year-over-year increase, with GAAP diluted EPS of $8.21 and non-GAAP diluted EPS of $3.56. Full-year revenue was $12.9 billion, up 36%, while full-year GAAP diluted EPS rose to $24.28 from $4.45 in the prior year. The company provided Q1FY27 guidance expecting revenue of approximately $4.1 billion and non-GAAP EPS of $4.00. Additionally, the Board declared a quarterly cash dividend of $0.15 per share, payable on September 17, 2026 to shareholders of record as of September 8, 2026. Western Digital Corporation designs and manufactures data storage devices and solutions for consumer, enterprise, and cloud markets.
On June 11, 2026, Western Digital Corporation entered into privately negotiated exchange agreements with institutional investors. The company will exchange 1,038,681 shares of Sandisk Corporation stock for a number of Western Digital common shares held by the investors. The exchange ratio will be based on the volume-weighted average prices of both stocks from June 16-18, 2026. The transactions are expected to close on June 22, 2026. Western Digital operates in the data storage industry, developing hard disk drives and flash memory products.