Q3 26 EPS
$23.41
Q3 26 Revenue
$5.95B
BEAT +25.68%
Est. $4.73B
vs S&P Since Q3 26
+8.4%
BEATING MARKET
SNDK +8.4% vs S&P +0.0%
Market Reaction
Did SNDK Beat Earnings? Q3 2026 Results
Sandisk delivered a blowout fiscal third quarter, posting earnings per share of $23.41 against a Wall Street consensus of $14.66, a beat of 59.67% that extended the company's winning streak to four consecutive quarters of topping EPS estimates. Reven… Read more Sandisk delivered a blowout fiscal third quarter, posting earnings per share of $23.41 against a Wall Street consensus of $14.66, a beat of 59.67% that extended the company's winning streak to four consecutive quarters of topping EPS estimates. Revenue of $5.95 billion grew 251% year-over-year and cleared the $4.73 billion consensus by 25.68%, powered by a dramatic mix shift toward higher-value datacenter customers and a sharp expansion in NAND pricing that lifted gross margins to 78.4%, up from just 22.5% a year ago. The Datacenter segment was the standout driver, surging 645% year-over-year to $1.47 billion, while GAAP net income swung to $3.62 billion from a loss of $1.93 billion in the prior-year period. The company also retired $650 million in debt, leaving its balance sheet free of long-term obligations. Analysts tracking the AI memory buildout have taken notice, with fresh Buy ratings and price targets above $1,200 emerging ahead of results. Looking ahead, Sandisk guided Q4 revenue to $7.75 billion to $8.25 billion, with Non-GAAP EPS of $30.00 to $33.00, signaling the favorable pricing and demand dynamics remain firmly intact.
Key Takeaways
- • Mix shift toward higher-value datacenter customers with Datacenter revenue up 233% sequentially and 645% year-over-year
- • Higher pricing across the portfolio
- • Gross margin expansion to 78.4% from 22.5% year-over-year
- • Edge segment revenue up 118% sequentially and 295% year-over-year
- • Revenue outperformance above the guidance range
SNDK Forward Guidance & Outlook
For fiscal Q4 2026, Sandisk expects revenue of $7.75 billion to $8.25 billion. GAAP gross margin is expected at 78.9% to 80.9%, with Non-GAAP gross margin of 79.0% to 81.0%. Non-GAAP operating expenses are expected between $480 million and $500 million. Non-GAAP diluted net income per share is expected in the range of $30.00 to $33.00 on approximately 158 million diluted shares outstanding. The company has signed five New Business Model agreements (three during Q3, two additional in Q4) based on multi-year customer engagements with firm financial commitments.
SNDK YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
SNDK Revenue by Segment
With YoY comparisons, source: SEC Filings
“This quarter marks a fundamental inflection point for Sandisk — where our technology leadership is enabling a deliberate shift in our mix toward the highest-value end markets, led by Datacenter.”
— David Goeckeler, Q3 2026 Earnings Press Release
SNDK Earnings Trends
SNDK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SNDK EPS Trend
Earnings per share: estimate vs actual
SNDK Revenue Trend
Quarterly revenue: estimate vs actual
SNDK Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 | — | $23.41 | — | $5.95B | +25.68% |
| Q2 26 BEAT | $3.54 | $6.20 | +74.97% | $3.03B | +12.54% |
| Q1 26 BEAT | $0.89 | $1.22 | +37.08% | $2.31B | — |
| Q4 25 BEAT FY | $0.03 | $0.29 | +866.67% | $1.90B | — |
| FY Full Year | $2.19 | $2.99 | +36.37% | $7.36B | +4.05% |
| Q3 25 BEAT | $-0.39 | $-0.30 | +23.72% | $1.70B | +3.99% |