Micron Technology Inc. delivered a strong fiscal Q4 2024 performance, showcasing record revenues and significant growth across several key financial metrics. Here are the main points from the earnings call:
Revenue: $7.8 billion for fiscal Q4, a 14% sequential increase and 93% growth year-over-year. Total fiscal 2024 revenue was $25.1 billion, up 62% YoY.
DRAM Revenue: $5.3 billion for Q4 (+93% YoY); $17.6 billion for FY 2024 (+60% YoY).
NAND Revenue: $2.4 billion for Q4 (+96% YoY); $7.2 billion for FY 2024 (+72% YoY).
Gross Margin: 36.5% in Q4, a sequential increase of over 8 percentage points. For FY 2024, gross margin was 23.7%, up by more than 31 percentage points YoY.
Operating Income: $1.7 billion for Q4, with a 23% operating margin; $1.9 billion for FY 2024, with an 8% margin.
Non-GAAP EPS: $1.18 for Q4 and $1.30 for FY 2024.
Operating Cash Flow: $3.4 billion in Q4; $8.5 billion for FY 2024.
Capital Expenditures: $3.1 billion in Q4; $8.1 billion for FY 2024.
Free Cash Flow: $323 million in Q4; $386 million for FY 2024.
Share Repurchase: $300 million or 3.2 million shares in Q4.
Ending Inventory: $8.9 billion, equivalent to 158 days.
Guidance for Fiscal Q1 2025:
Revenue: $8.7 billion (±$200 million)
Gross Margin: 39.5% (±100 basis points)
EPS: $1.74 per share (±$0.08)
Positive Takeaways:
Micron achieved record revenues in both DRAM and NAND segments, with a strong fiscal year.
The company is positioned for further success in fiscal 2025, backed by its competitive edge in advanced DRAM and NAND technology, and investments in AI-driven demand.
Challenges:
Inventory increased to $8.9 billion, indicating potential management issues.
The projected higher capital expenditures in fiscal 2025 may strain resources.
Despite some challenges, Micron's positioning, backed by technological leadership and a robust financial outlook, points to a promising fiscal 2025.
Revenue: $7.8 billion for fiscal Q4, a 14% sequential increase and 93% growth year-over-year. Total fiscal 2024 revenue was $25.1 billion, up 62% YoY.
DRAM Revenue: $5.3 billion for Q4 (+93% YoY); $17.6 billion for FY 2024 (+60% YoY).
NAND Revenue: $2.4 billion for Q4 (+96% YoY); $7.2 billion for FY 2024 (+72% YoY).
Gross Margin: 36.5% in Q4, a sequential increase of over 8 percentage points. For FY 2024, gross margin was 23.7%, up by more than 31 percentage points YoY.
Operating Income: $1.7 billion for Q4, with a 23% operating margin; $1.9 billion for FY 2024, with an 8% margin.
Non-GAAP EPS: $1.18 for Q4 and $1.30 for FY 2024.
Operating Cash Flow: $3.4 billion in Q4; $8.5 billion for FY 2024.
Capital Expenditures: $3.1 billion in Q4; $8.1 billion for FY 2024.
Free Cash Flow: $323 million in Q4; $386 million for FY 2024.
Share Repurchase: $300 million or 3.2 million shares in Q4.
Ending Inventory: $8.9 billion, equivalent to 158 days.
Guidance for Fiscal Q1 2025:
Revenue: $8.7 billion (±$200 million)
Gross Margin: 39.5% (±100 basis points)
EPS: $1.74 per share (±$0.08)
Positive Takeaways:
Micron achieved record revenues in both DRAM and NAND segments, with a strong fiscal year.
The company is positioned for further success in fiscal 2025, backed by its competitive edge in advanced DRAM and NAND technology, and investments in AI-driven demand.
Challenges:
Inventory increased to $8.9 billion, indicating potential management issues.
The projected higher capital expenditures in fiscal 2025 may strain resources.
Despite some challenges, Micron's positioning, backed by technological leadership and a robust financial outlook, points to a promising fiscal 2025.