Q1 2026 Sandisk Corp Earnings Call Transcript
Key Points
- SanDisk Corp (SNDK) reported a strong quarter with revenue of $2.3 billion, up 21% sequentially, and non-GAAP earnings per share of $1.22.
- The company generated $448 million in adjusted free cash flow and achieved a net cash position of $91 million.
- Demand for NAND products continues to outpace supply, with strategic allocation decisions being made to maximize long-term value.
- SanDisk Corp (SNDK) is advancing its technology roadmap and strengthening customer partnerships, particularly in the data center and edge markets.
- The company is well-positioned to capture strong seasonal demand with a refreshed consumer portfolio and significant presence across key retail and online channels.
- SanDisk Corp (SNDK) incurred $61 million in startup costs and $11 million in underutilization charges during the first quarter.
- Operating expenses were higher than guidance, driven by higher variable compensation from revenue over delivery versus plan.
- The company faces ongoing supply and demand dynamics, requiring strategic bid placements.
- There is a need for continued investment in data center business expansion and HBF innovation, impacting operating expenses.
- SanDisk Corp (SNDK) is navigating a supply-constrained environment, with products on allocation across all end markets.
Good day and welcome to the Sanddisk first quarter fiscal 2026 earnings conference call.
All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the key, followed by 0.
After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touch tone phone.
To withdraw your question, please press 2.
Please note that this event is being recorded.
I would now like to turn the conference over to Ivan Donaldson, Vice President of investor relations. Please go ahead.
Before we begin, please note that today's discussion will contain forward-looking statements based on management's current assumptions and expectations, which are subject to various risks and uncertainties. These forward-looking statements include expectations for our technology and product portfolio, our business plans and performance, market trends and
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