Filing Flows › Micron Technology (MU) › Guidance history
Micron Technology (MU) guidance history: what it guided and what it reported
Micron Technology gave guidance in 12 earnings releases on file since Dec 20, 2023. Of 21 guided periods since reported, it met or beat its own guidance 16 times (76%). Revenue: 7 of 7, on average +11.8% against the guided midpoint.
Revenue
Met or beat 7 of 7 periods (6 above, 1 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY27 | $60.0B–$63.0B (Sep 30, 2026) | — | to be reported | — |
| Q4 FY26 | $49.0B–$51.0B (Jun 24, 2026) | $54.2B | above the range | +8.5% |
| Q3 FY26 | $32.8B–$34.2B (Mar 18, 2026) | $41.5B | above the range | +23.8% |
| Q2 FY26 | $18.3B–$19.1B (Dec 17, 2025) | $23.9B | above the range | +27.6% |
| Q1 FY26 | $12.2B–$12.8B (Sep 23, 2025) | $13.6B | above the range | +9.1% |
| Q4 FY25 | $10.4B–$11.0B (Jun 25, 2025) | $11.3B | above the range | +5.8% |
| Q3 FY25 | $8.6B–$9.0B (Mar 20, 2025) | $9.3B | above the range | +5.7% |
| Q2 FY25 | $7.7B–$8.1B (Dec 18, 2024) | $8.1B | within the range | +1.9% |
Adjusted revenue
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY27 | $60.0B–$63.0B (Sep 30, 2026) | — | to be reported | — |
| Q4 FY26 | $49.0B–$51.0B (Jun 24, 2026) | — | — | — |
| Q3 FY26 | $32.8B–$34.2B (Mar 18, 2026) | — | — | — |
| Q2 FY26 | $18.3B–$19.1B (Dec 17, 2025) | — | — | — |
| Q1 FY26 | $12.2B–$12.8B (Sep 23, 2025) | — | — | — |
| Q4 FY25 | $10.4B–$11.0B (Jun 25, 2025) | — | — | — |
| Q3 FY25 | $8.6B–$9.0B (Mar 20, 2025) | — | — | — |
| Q2 FY25 | $7.7B–$8.1B (Dec 18, 2024) | — | — | — |
GAAP gross margin
Met or beat 7 of 7 periods (6 above, 1 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY27 | 86.0% (Sep 30, 2026) | — | to be reported | — |
| Q4 FY26 | 86.0% (Jun 24, 2026) | 86.8% | above the range | +0.8 pts |
| Q3 FY26 | 81.0% (Mar 18, 2026) | 84.6% | above the range | +3.6 pts |
| Q2 FY26 | 66.0%–68.0% (Dec 17, 2025) | 74.4% | above the range | +7.4 pts |
| Q1 FY26 | 49.5%–51.5% (Sep 23, 2025) | 56.0% | above the range | +5.5 pts |
| Q4 FY25 | 40.0%–42.0% (Jun 25, 2025) | 44.7% | above the range | +3.7 pts |
| Q3 FY25 | 34.5%–36.5% (Mar 20, 2025) | 37.7% | above the range | +2.2 pts |
| Q2 FY25 | 36.5%–38.5% (Dec 18, 2024) | 36.8% | within the range | -0.7 pts |
| Q1 FY25 | 37.5%–39.5% (Sep 25, 2024) | — | — | — |
| Q4 FY24 | 32.5%–34.5% (Jun 26, 2024) | — | — | — |
Adjusted gross margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY27 | 86.2% (Sep 30, 2026) | — | to be reported | — |
| Q4 FY26 | 86.0% (Jun 24, 2026) | — | — | — |
| Q3 FY26 | 81.0% (Mar 18, 2026) | — | — | — |
| Q2 FY26 | 67.0%–69.0% (Dec 17, 2025) | — | — | — |
| Q1 FY26 | 50.5%–52.5% (Sep 23, 2025) | — | — | — |
| Q4 FY25 | 41.0%–43.0% (Jun 25, 2025) | — | — | — |
| Q3 FY25 | 35.5%–37.5% (Mar 20, 2025) | — | — | — |
| Q2 FY25 | 37.5%–39.5% (Dec 18, 2024) | — | — | — |
| Q1 FY25 | 38.5%–40.5% (Sep 25, 2024) | — | — | — |
| Q4 FY24 | 33.5%–35.5% (Jun 26, 2024) | — | — | — |
GAAP operating expenses
Met or beat 2 of 7 periods (5 above, 1 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY27 | $2.3B (Sep 30, 2026) | — | to be reported | — |
| Q4 FY26 | $1.9B (Jun 24, 2026) | $3.3B | above the range | +77.2% |
| Q3 FY26 | $1.6B (Mar 18, 2026) | $1.7B | above the range | +8.6% |
| Q2 FY26 | $1.5B–$1.6B (Dec 17, 2025) | $1.6B | above the range | +3.9% |
| Q1 FY26 | $1.5B–$1.5B (Sep 23, 2025) | $1.5B | within the range | +1.3% |
| Q4 FY25 | $1.3B–$1.4B (Jun 25, 2025) | $1.4B | above the range | +3.7% |
| Q3 FY25 | $1.3B–$1.3B (Mar 20, 2025) | $1.3B | above the range | +5.4% |
| Q2 FY25 | $1.2B–$1.3B (Dec 18, 2024) | $1.2B | below the range | -4.0% |
| Q1 FY25 | $1.2B–$1.2B (Sep 25, 2024) | — | — | — |
| Q4 FY24 | $1.2B–$1.2B (Jun 26, 2024) | — | — | — |
Adjusted operating expenses
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY27 | $2.1B (Sep 30, 2026) | — | to be reported | — |
| Q4 FY26 | $1.6B (Jun 24, 2026) | — | — | — |
| Q3 FY26 | $1.4B (Mar 18, 2026) | — | — | — |
| Q2 FY26 | $1.4B–$1.4B (Dec 17, 2025) | — | — | — |
| Q1 FY26 | $1.3B–$1.4B (Sep 23, 2025) | — | — | — |
| Q4 FY25 | $1.2B–$1.2B (Jun 25, 2025) | — | — | — |
| Q3 FY25 | $1.1B–$1.1B (Mar 20, 2025) | — | — | — |
| Q2 FY25 | $1.1B–$1.1B (Dec 18, 2024) | — | — | — |
The latest quarter
Micron Technology, Q4 FY26: revenue $54.2B (+379% year over year), operating margin 80.7%, net earnings $37.7B, operating cash flow $44.0B. The chart follows the revenue to costs, profit and cash.
Questions
Does Micron Technology beat its guidance?
Micron Technology gave guidance in 12 earnings releases on file since Dec 20, 2023. Of 21 guided periods since reported, it met or beat its own guidance 16 times (76%). Revenue: 7 of 7, on average +11.8% against the guided midpoint.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.