Western Digital Stock Price, News & Analysis

Western Digital Corp. (WDC) reported Q2 2022 revenue of $4.83 billion, a 23% YoY increase. Cloud revenue surged by 89%, while Client revenue fell by 1%, and Consumer revenue remained flat. The GAAP earnings per share (EPS) was $1.79, with non-GAAP EPS of $2.30, including $70 million in COVID-related expenses. The company generated operating cash flow of $666 million and reduced its gross debt to $7.40 billion. Looking ahead, WDC expects Q3 revenue of $4.45 billion to $4.65 billion, with non-GAAP EPS guidance of $1.50 to $1.80.

Western Digital Corp. (NASDAQ: WDC) will announce its second quarter fiscal year 2022 financial results after market close on January 27, 2022. A conference call for discussing these results is scheduled for 1:30 p.m. Pacific / 4:30 p.m. Eastern on the same day, with a live audio webcast available on their investor relations website.

Western Digital is a leader in data infrastructure, providing innovative solutions for capturing, preserving, and accessing data across various platforms.

Western Digital Corporation (NASDAQ: WDC) has successfully closed its public offering of $1 billion in senior unsecured notes, consisting of $500 million at 2.850% due 2029 and $500 million at 3.100% due 2032. The net proceeds, approximately $988 million, will be used to refinance existing debt and cover offering expenses. The company recently attained a second investment grade corporate rating from Fitch, reflecting strong cash flow and a commitment to debt reduction. This milestone positions Western Digital to assess future capital allocation strategies.

Western Digital Corp. (NASDAQ: WDC) informed investors about its participation in several upcoming virtual investor conferences. Key events include the 5th Annual Virtual Wells Fargo TMT Summit on November 30, 2021, the Nasdaq Investor Conference on December 1, 2021, the UBS Global TMT Virtual Conference on December 6, 2021, and the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021. Presentations will be available as live webcasts and archived on their Investor Relations website.

Western Digital (WDC) reported strong fiscal Q1 2022 results with revenue of $5.1 billion, a 29% increase year-over-year. Cloud revenue surged 72%, while Client and Consumer revenues grew modestly by 6% and 10%, respectively. The company achieved a GAAP EPS of $1.93 and a non-GAAP EPS of $2.49, despite COVID-related expenses of $56 million. Operating cash flow reached $521 million. WDC anticipates Q2 revenue between $4.70 billion and $4.90 billion, with non-GAAP EPS expected between $1.95 and $2.25.

Western Digital (NASDAQ: WDC) will release its Q1 fiscal year 2022 financial results on October 28, 2021, after the market closes. The company will host an investment community conference call at 1:30 p.m. Pacific / 4:30 p.m. Eastern on the same day. Investors can access a live audio webcast and a replay through investor.wdc.com.

Western Digital announced its smart factories in Malaysia and Thailand have been accepted into the Global Lighthouse Network, recognizing innovation in manufacturing technology. This distinction highlights their commitment to Fourth Industrial Revolution practices, integrating AI and automation for sustainability and efficiency. The Malaysian facility achieved a 32% cost improvement, while the Thai operation increased output by 123%, reduced costs by 30%, and improved product returns by 43%. CEO David Goeckeler emphasized the importance of technology in driving sustainable growth.

Western Digital (NASDAQ: WDC) has announced its commitment to reduce operational emissions by 42% by 2030, aligning with the Paris Climate Agreement. The Science Based Targets initiative (SBTi) has approved these goals, which include a 50% reduction in product emissions intensity. Key actions include increasing energy efficiency, adopting on-site solar, and procuring renewable energy. As of mid-2021, facilities in Northern California run on 100% renewable energy. The company aims to play a significant role in combating climate change while enhancing its operational sustainability.

Western Digital Corp. (NASDAQ: WDC) announced its participation in two upcoming investor conferences. The Deutsche Bank Technology Conference is scheduled for September 10, 2021, at 11:45 a.m. PT, while the Citi 2021 Global Technology Virtual Conference will take place on September 14, 2021, at 8:20 a.m. PT. Both presentations will be available via live webcast on Western Digital's Investor Relations website, with archived replays accessible post-event.