Micron reports Wednesday: the numbers to know before MU earnings

Micron (MU) reports results for its quarter ending August 2026 after the close on Wednesday, 30 September. The consensus forecast is earnings of $31.24 a share, based on 10 analyst estimates compiled by Zacks and published by Nasdaq. A year earlier the company reported $2.86 for the same quarter, so the forecast is roughly 10.9 times last year's figure.

Shares closed at $1,053.98 on Monday, 28 September, down 2.61% on the day, for a market value of about $1.19T according to Nasdaq. The stock is up 269% so far in 2026 and up 9.9% in September, and sits 13.1% below its 52-week closing high of $1,213.56 from 25 June.

What the last report showed

In its most recent quarterly report (a 10-Q for the quarter ended 28 May 2026, filed 25 June), Micron reported revenue of $41.5B, up 346% from $9.3B a year earlier and 73.7% above the previous quarter's $23.9B. Net income was $28.2B, up 1,398% from $1.9B. Diluted earnings per share came to $24.67 against $1.68 a year before.

Gross margin was 84.6%, compared with 37.7% a year earlier. Revenue has grown sequentially for 5 straight quarters in the filings. Over the latest four reported quarters, revenue totals $90.3B. The balance sheet showed $25.0B of cash and equivalents at 28 May 2026.

Margins tell the story

Gross margin, the share of revenue left after the direct cost of making the product, has ranged from 35.3% (quarter ended Aug 2024) to 84.6% (quarter ended May 2026) over the last 8 quarters in the filings. In the latest quarter, operating income was $33.3B, an operating margin of 80.4%. Net income equalled 68.1% of revenue.

The earnings track record

Micron has topped the consensus EPS estimate in 4 of the last 4 quarters, according to Nasdaq's earnings-surprise data. (These EPS figures are on the adjusted basis Zacks tracks, which can differ from the GAAP diluted EPS in the SEC filing.) Most recently, for the quarter ending May 2026, it reported $24.89 a share against a $20.98 forecast, a +18.6% surprise.

The stock's reaction has been sizeable. Measured from the close before each report to the close of the first session after it, the shares moved an average of 8.7% (in either direction) around the last 3 releases. The biggest swing was +15.4% around the report dated 24 June 2026.

What the forecast implies

The $31.24 consensus sits 25.5% above the $24.89 Micron reported for the previous quarter. The quarter also closes Micron's fiscal year (its fiscal year-end on file with the SEC is 3 September), so the release should include full-year figures as well.

Peers on our radar

Other semiconductors names we track have had these years so far: NVDA (+22.7% YTD), AMD (+184% YTD), AVGO (+1.0% YTD), INTC (+214% YTD), ARM (+159% YTD), TSM (+49.0% YTD). Results from Micron often land in the same conversation, so those pages carry the latest filings and prices too.