Micron's fiscal Q3 2026 earnings presentation (June 24, 2026) — a 44-slide deck in which the CEO covers industry structure, a new class of take-or-pay strategic customer agreements, technology roadmap and supply expansion, and the CFO covers record revenue of $41.5 billion (up 346% year over year), business-unit results, FQ4 guidance and thirteen appendix reconciliation tables.
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Micron's fiscal Q3 2026 earnings presentation (June 24, 2026) — a 44-slide deck in which the CEO covers industry structure, a new class of take-or-pay strategic customer agreements, technology roadmap and supply expansion, and the CFO covers record revenue of $41.5 billion (up 346% year over year), business-unit results, FQ4 guidance and thirteen appendix reconciliation tables.
Подробный просмотр каждой страницы слайда, включая макет, ключевой контент и визуальные элементы.
Cover slide for Micron's fiscal third quarter 2026 financial results.
Split frame: a magenta-to-black gradient panel at left carries the two-line title, the quarter label and the Micron wordmark; a macro photograph of a patterned wafer fills the right two thirds behind a curved edge.
Forward-looking statements notice covering market demand and supply, strategic customer agreements, pricing trends, manufacturing projects and financial projections, directing readers to the 10-K and 10-Q; followed by a paragraph on the use of non-GAAP measures and where the reconciliations sit.
Plain white slide with a bold heading and two justified body paragraphs at generous size; no imagery.
Speaker card opening the CEO section.
Left half white with the name in heavy type over the title; right half a full-bleed portrait on black.
Records in revenue, gross margin and EPS all exceeding the high end of guidance; data center revenue above $25 billion in the quarter, an annualized run rate over $100 billion; data center SSD revenue above $5 billion, more than doubling sequentially; DRAM and NAND demand significantly exceeding supply; tight conditions expected beyond calendar 2027; sixteen strategic customer agreements signed.
The deck's main prose template — a full-height photograph fills the left third, a bulleted column fills the right two thirds.
The memory industry has been structurally transformed by AI; early innings of productivity gains; data-center-driven growth increasingly complemented by AI features in smartphones, high-end PCs, automotive, industrial and robotics; robotics, humanoids and autonomous vehicles point to long-term demand.
Prose template with a cleanroom photograph at left.
Supply shortages will take considerable time to improve; no line of sight on when supply catches demand even with gradual improvement in 2028; supply growth depends on greenfield fabs constrained by construction lead times, skilled-trade shortages, permitting and energy infrastructure; process technology complexity rising each node; slower bit growth per transition, and HBM's rising trade ratio pressures non-HBM supply.
Prose template with a manufacturing-line photograph at left; five bullets, the longest set in the section.
Suppliers redirecting cleanroom space from NAND to DRAM constrains NAND bit supply; supply is structurally constrained; AI systems span GPU, ASIC and CPU designs but all depend architecturally on memory subsystem performance and capacity; a more complex memory hierarchy creates differentiation opportunity; memory's role has become a strategic asset.
Prose template with a red-lit wafer photograph at left.
Introduces strategic customer agreements: sixteen completed across data center, consumer and auto segments; typically five-year terms from calendar 2026 through 2030, three years for automotive; the sixteen represent roughly 20% of DRAM volume and a third of NAND volume over the period; four very large customers, three medium-sized, the rest automotive.
Prose template inverted — text fills the left two thirds, the photograph moves to the right third.
Approximately half or more of company revenue expected under SCAs when complete; agreements structured as take-or-pay with binding volume commitments; the largest have a ceiling price at current calendar Q2 market price and a floor through the term; agreements with fixed prices or ceilings at or near current market prices expected to be roughly 40% of revenue; pricing designed to stay within the band.
Inverted prose template with an office photograph at right.
Floor prices enable gross margin well above peak quarterly margins in any past cycle; 14 of the 16 SCAs carry cumulative revenue at minimum price of approximately $100 billion over the remaining term; projected cash deposits and related financial commitments of $22 billion; agreements provide committed DRAM including HBM and NAND supply over a multi-year horizon.
Inverted prose template with a market-data photograph at right; the longest bullet set in the deck.
AI's demand for bandwidth, capacity, low latency and low power is driving architectural and process decisions; the 1-gamma DRAM node and G9 NAND node are both ramping and on track to become the highest-volume nodes in company history; next-generation nodes on track for volume production in the second half of calendar 2027; HBM4 12-high ramping twice as fast as HBM3E 12-high with over $1 billion in HBM4 revenue already shipped.
Prose template with an iridescent wafer photograph at left.
Future demand skews toward higher-performance, higher-value products whose complexity carries higher cost per bit; transitions like LP5 to LP6, DDR5 to DDR6 and newer HBM generations all raise bit costs; blended DRAM cost per bit is projected to rise from current levels; SCAs provide for price premiums on such new products to be negotiated.
Prose template with a red gradient photograph at left; four bullets with generous white space beneath.
Industry data center DRAM and NAND bit shipments in calendar 2026 expected to more than double from two years ago; agentic AI extending infrastructure beyond accelerator racks to CPU racks and storage racks for context store; calendar 2026 industry server units now expected to grow high-teens percent, above prior low-double-digit expectations; the increase enabled by a modest reduction in average server DRAM content growth; in NAND, AI context memory storage and HDD displacement expand the SSD market.
Inverted prose template with a server-rack photograph at right.
PC and smartphone industry revenue expected to grow despite unit volume declines, reflecting demand for high-end devices at higher prices; agentic AI platforms elevate the value of edge devices through better tokenomics, privacy, latency and cloud-edge orchestration; on-device AI combined with pent-up replacement demand expected to drive memory demand growth.
Inverted prose template with a laptop photograph at right; only three bullets, the shortest slide in the section.
ADAS remains a powerful driver of content growth; L2+ and above vehicles carry over five times the memory and storage of an average vehicle; the L2+ mix is more than doubling this year to over 20% and expected to exceed 40% by 2030; robotics advances in simulation, foundation models and integrated stacks accelerate physical AI; humanoid robots carry ten times the memory of an average L2+ vehicle.
Inverted prose template with an autonomous-driving photograph at right.
Supply-demand conditions for both DRAM and NAND expected to remain tight beyond calendar 2027; industry DRAM bit shipments in calendar 2026 expected to grow in the low- to mid-20s percentage range, slightly above prior outlook; industry NAND bit shipments approximately 20%, unchanged; Micron DRAM supply to grow roughly in line with industry, NAND somewhat less.
Prose template with a yellow-lit cleanroom photograph at left.
SCAs provide enhanced demand visibility and greater confidence on capex and R&D investments; focus on maximizing fab output including supplier collaboration on tool acquisition, installation, ramp and upgrades; a multi-year EUV supply agreement concluded with ASML supporting increased EUV adoption at the 1-delta node and beyond.
Prose template with a microscope photograph at left; three bullets.
Global manufacturing footprint expanding; U.S. leading-edge DRAM investments with ID1 and ID2 fabs in Idaho under construction and the first of the New York fab cluster broken ground in January; ID1 on track for first wafer output in mid-calendar 2027 and ID2 in late calendar 2028; first production starts of 1-alpha DDR4 in the Manassas, Virginia fab supporting legacy needs in auto, industrial, medical, aerospace and defense.
Prose template with an aerial fab-construction photograph at left.
The newly acquired Tongluo site in Taiwan expected to support meaningful product shipments from the existing 300,000-square-foot fab in mid-calendar 2027, a quarter earlier than prior expectations; construction begun on a similar-sized second cleanroom supporting EUV; Japan and Singapore on track; the Singapore site becoming a second center of excellence for advanced packaging contributing to HBM packaging capacity from the first half of calendar 2027.
Prose template with a campus photograph at left.
Speaker card opening the financial section.
Same half-frame portrait layout as the CEO card, so the two read as a pair.
Revenue of $41.5 billion, up 74% sequentially and up 346% year over year.
The deck's only oversized-number slide — the figure set across the full width in a blue-to-green gradient, with a small label above and a two-line comparison beneath; otherwise empty white.
DRAM: $31.3 billion, 76% of revenue, up 67% sequentially, bit shipments up low-single-digit percentage, ASPs up in the low-60s percentage range. NAND: $9.9 billion, 24% of revenue, up 99% sequentially, bit shipments up mid-single-digit percentage, ASPs up in the mid-80s percentage range.
Two bulleted columns under bold technology headings; a full-width circuit-board photograph occupies the lower third.
Revenue, gross margin and operating margin for each business unit across FQ3-26, FQ2-26 and FQ3-25: Cloud Memory $13,769M at 83%/78%; Core Data Center $11,524M at 87%/83%; Mobile and Client $11,521M at 87%/86%; Automotive and Embedded $4,634M at 79%/75%.
Single table with a black header row; each business unit is a bold group label followed by three indented metric rows, with alternating row shading.
Cloud Memory revenue a record $13.8 billion, 33% of company revenue, up 78% sequentially on higher pricing and bit shipments, gross margin 83% up 9 points. Core Data Center revenue a record $11.5 billion, 28% of company revenue, up 103% sequentially, gross margin 87% up 12 points.
Prose template with a dark bokeh photograph at left.
Mobile and Client revenue a record $11.5 billion, 28% of company revenue, up 49% sequentially on higher pricing partially offset by lower bit shipments, gross margin 87% up 9 points. Automotive and Embedded revenue a record $4.6 billion, 11% of revenue, up 71% sequentially, gross margin 79% up 11 points.
Prose template with a green bokeh photograph at left, matching the previous slide's structure.
Revenue $41.46 billion; gross margin 84.9%; operating expenses $1.52 billion; operating income $33.68 billion; net income $28.86 billion; diluted EPS $25.11; cash from operations (GAAP) $25.39 billion.
Seven bold-label lines stacked down the left half with values in regular weight; a wafer photograph fills the right half; a small reconciliation pointer sits at the bottom.
From FY-23 to FQ3-26: $1.4 billion repurchasing 14 million shares, $2.0 billion in dividends, $3.4 billion returned in total. For FQ3-26: cash flow from operations $25.4 billion (61% of revenue), net capex $7.1 billion, adjusted free cash flow $18.3 billion, no buybacks, a $0.15 per share dividend payable July 21 2026, and $32.2 billion in liquidity.
Left column carries the multi-year bullets under a bold sub-heading; a light grey panel at right holds six label-value rows separated by hairlines; four footnotes define capex, liquidity and adjusted free cash flow.
Revenue $50.0 billion plus or minus $1.0 billion; gross margin approximately 86%; operating expenses approximately $1.65 billion; diluted EPS $31.00 plus or minus $1.00, based on approximately 1.15 billion diluted shares.
A blue wafer photograph fills the left half; four label-value rows separated by hairlines fill the right half; two footnotes beneath.
Disciplined investment across the global footprint; capex is net of anticipated government incentives; FQ4 capex around $10 billion bringing full-year fiscal 2026 capital spending to approximately $27 billion; quarterly fiscal 2027 capex above FQ4 levels with more than half the increase from construction; free cash flow forecast to increase substantially again; after December 9 2026, the second anniversary of the CHIPS agreements, intent to increase capital return, over time returning 100% of excess cash.
Two bulleted columns side by side under a bold heading; a full-width wafer photograph fills the lower third.
Divider opening the appendix.
Full-bleed magenta-to-blue gradient with a single bold word set left of centre.
Three-period non-GAAP summary with percent-of-revenue columns: revenue $41,456M / $23,860M / $9,301M; gross margin 85% / 75% / 39%; operating income 81% / 69% / 27%; net income 70% / 59% / 23%; diluted EPS $25.11 / $12.20 / $1.91; cash from operations $25,388M; cash and investments $30,155M.
Wide table with a black header row alternating value and percent-of-revenue columns for each of three periods; alternating row shading.
Left: DRAM 76% and NAND 24% of revenue, with sales volume and ASP change ranges for each. Right: FQ3-26 actuals against FQ4-26 guidance for revenue, gross margin, operating expenses and diluted EPS; plus diluted shares, income tax provision, cash from operations and net capex against FQ4 estimates.
Four small tables arranged two-by-two across the slide, each with its own black header row.
DRAM $31,328M at 76%, NAND $9,943M at 24%, Other (primarily NOR) $185M, total $41,456M, shown against FQ2-26 and FQ3-25 with percent-of-revenue columns for each period.
Table with paired amount and percent columns for three periods; rounding note beneath.
The same three technology lines expressed as change: DRAM up 67% sequentially and 343% year over year; NAND up 99% and 361%; Other up 95% and 147%; total up 74% and 346%.
Same table structure with change columns replacing percent-of-revenue columns; a full-width photograph fills the lower third.
Cloud Memory $13,769M up 78% sequentially and 307% year over year; Core Data Center $11,524M up 103% and 653%; Mobile and Client $11,521M up 49% and 254%; Automotive and Embedded $4,634M up 71% and 311%.
Same table structure as the technology change table, with a photograph in the lower third.
Divider opening the reconciliation tables.
Full-bleed blue-to-green gradient with a two-line heading set left.
GAAP gross margin $35,056M bridges to non-GAAP $35,199M via stock-based compensation; GAAP operating expenses $1,738M bridge to non-GAAP $1,518M; GAAP operating income $33,318M bridges to non-GAAP $33,681M.
Three stacked reconciliation blocks in one table, each with a bold GAAP starting line, indented adjustments, and a bold non-GAAP subtotal above a rule; three period columns.
GAAP cost of goods sold $6,400M to non-GAAP $6,257M; GAAP research and development $1,316M to non-GAAP $1,186M; GAAP selling, general and administrative $407M to non-GAAP $338M.
Same three-block table structure applied to expense lines.
GAAP net income $28,243M bridges to non-GAAP $28,857M via stock-based compensation $341M, loss on debt prepayments $325M, other $23M and estimated tax effects $(75)M; GAAP income tax provision $(4,978)M bridges to non-GAAP $(5,053)M.
Two reconciliation blocks in the same table style.
GAAP net income $28,243M plus interest, tax, depreciation and amortization of $2,364M, then non-GAAP adjustments for stock-based compensation, loss on debt prepayments and other, giving adjusted EBITDA of $36,057M against $18,685M and $4,569M in the comparison periods.
Single reconciliation block with a sub-grouped 'Non-GAAP adjustments' header partway down.
GAAP diluted shares 1,145M to non-GAAP 1,149M; GAAP diluted EPS $24.67 to non-GAAP $25.11; net cash from operating activities $25,388M less capex $(7,826)M plus proceeds from sales and government incentives, giving net capital investment $(7,084)M and adjusted free cash flow of $18,304M.
Three reconciliation blocks, with the free cash flow bridge occupying the lower half.
Cash and equivalents $24,995M plus short-term investments, long-term marketable investments and restricted cash, less current and long-term debt, giving net cash of $24,433M against $6,511M and $(3,322)M in the comparison periods.
Single compact table with a bold net cash total above a rule.
Bridges GAAP outlook to non-GAAP outlook: revenue unchanged at $50.0 billion ± $1.0 billion; gross margin approximately 86% both ways; operating expenses from approximately $1.86 billion to $1.65 billion via a $205 million adjustment; diluted EPS from $30.73 ± $1.00 to $31.00 ± $1.00. A second table itemises the $309 million of adjustments by lettered reference.
Upper table with three columns (GAAP Outlook, Adjustments, Non-GAAP Outlook) and letter references in the adjustment column; lower table lists the lettered adjustments with amounts and a total.
Closing slide with the Micron wordmark and the full trademark and information disclaimer.
Black field with the wordmark and 'Intelligence Accelerated' lockup at lower left, over a small-type legal paragraph.
Распространенные вопросы об этом слайде и основном содержании презентации.
The full 44-slide Micron FQ3 2026 earnings presentation as both PDF and editable PowerPoint, plus a page-by-page preview. The PPTX keeps layouts, tables and text editable so you can substitute your own content.
Yes. It is the FQ3-26 Earnings Deck that Micron published on its investor relations site alongside the June 24, 2026 results, including the Safe Harbor slide and all thirteen appendix reconciliation tables.
It is far more narrative. The CEO section runs sixteen slides of prose — industry trends, business model, technology roadmap, supply plans — before a single financial chart appears. If your quarter needs explaining rather than just reporting, this is the closest template to copy.
The prose slide: a full-height photograph filling one third of the frame beside a bulleted column. It appears roughly twenty times, alternating which side the photograph sits on, and it carries the entire strategy section without a chart. It is a good answer to the problem of a text-heavy slide that still has to look designed.
Three consecutive slides, titled '1 of 3' through '3 of 3', walk through the strategic customer agreements: what they are and how many are signed, how the take-or-pay structure and floor-to-ceiling price bands work, and what they commit in dollars. Running one topic across three numbered slides is more honest than compressing it into one crowded slide.
The tables are the bulk of this deck and are the most likely to survive as editable objects. Open the PPTX and check before committing — exported investor decks often mix native objects with pasted images. Layouts, text and colours stay editable either way.
Editorial rather than corporate: near-white backgrounds, black type, no accent colour in the body. Colour lives only in the photographs, in two full-bleed gradient dividers, and in one oversized gradient number. Tables use a solid black header row with alternating row shading.
Each reconciles one thing — gross margin, operating expenses, operating income, cost of goods sold, R&D, SG&A, net income, income tax, adjusted EBITDA, shares, EPS, adjusted free cash flow, net cash, and the forward guidance bridge. Keeping them separate means each table stays short enough to read and each body slide can footnote exactly the one that applies.
Micron publishes each quarter's Earnings Deck and Prepared Remarks on this page; this deck is the FQ3-26 entry.
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