Micron Technology, Inc. (MU) KeyBanc Technology Leadership Forum Conference (Transcript)

Micron Technology, Inc. (NASDAQ:MU) KeyBanc Technology Leadership Forum Conference Call August 11, 2025 11:00 AM ET

Company Participants

Satya Kumar – Corporate VP of Investor Relations & Treasurer
Sumit Sadana – Executive VP & Chief Business Officer

Conference Call Participants

John Nguyen Vinh – KeyBanc Capital Markets Inc., Research Division

John Nguyen Vinh

Good morning, everybody. My name is John Vinh. I cover semis here at KeyBanc Capital Markets. We are pleased this morning to have Micron with us. We have got Sumit Sadana, EVP and Chief Business Officer; and we have got Satya Kumar, Corporate Vice President of Investor Relations and Treasury. I think Satya is going to kick us off with Some disclosures.

Satya Kumar

Yes. I just wanted to make sure you’re aware that we may make some forward-looking statements and actual results could differ from what we say. I encourage you to look at our SEC filings to look at our latest disclosures.

John Nguyen Vinh

So great. So in tech leadership forum tradition, I think it’s been 5 years in a row. You guys had a pre-announcement this morning, this time on the positive side, which is great.

Question-and-Answer Session

John Nguyen Vinh

So maybe Sumit, you could just maybe walk us through the pre-announcement and just talk about what were the drivers of upside in the quarter for you.

Sumit Sadana

Definitely. So good morning, and thank you for having us, John. So in terms of our guidance update this morning, really excited that Micron is performing really well, executing really well across the board. Our prior revenue guidance for fiscal Q4 was $10.7 billion at the midpoint of the guidance range. We updated that to $11.2 billion this morning, plus/minus $100 million. Gross margin was 42% at the midpoint in the prior guidance, it’s now 44.5% plus/minus 0.5 percentage point. And EPS non-GAAP was $2.50 at the midpoint, and it’s now $2.85, plus/minus $0.07.