Micron Technology Inc (NEOE:MU)

C$ 24 -1.01 (-4.04%) Market Cap: 160.70 Bil Enterprise Value: 168.91 Bil PE Ratio: 153.33 PB Ratio: 2.56 GF Score: 64/100

Q4 2024 Micron Technology Inc Earnings Call Transcript

Sep 25, 2024 / 08:30PM GMT

Release Date Price: C$22.2 (+2.16%)

Transcript 10-K8-K

Key Points

Positve

Micron Technology Inc (MU) delivered fiscal Q4 revenue at the high end of the guidance range, with gross margins and EPS above expectations.
The company achieved record high revenues in NAND and its storage business unit, with fiscal 2024 revenue growing over 60%.
Micron Technology Inc (MU) is entering fiscal 2025 with the strongest competitive positioning in its history, with leadership in 1-beta DRAM and G8 and G9 NAND process technology.
The company is making significant investments to support AI-driven demand, with its manufacturing network well-positioned to execute on these opportunities.
Micron Technology Inc (MU) expects to deliver a substantial revenue record with significantly improved profitability in fiscal 2025, beginning with record quarterly revenue in fiscal Q1.

Negative

Despite the positive outlook, Micron Technology Inc (MU) faces risks and uncertainties that may cause actual results to differ materially from forward-looking statements.
The company's fiscal Q4 ending inventory was $8.9 billion or 158 days, up 3 days from the prior quarter, indicating potential inventory management challenges.
Micron Technology Inc (MU) expects fiscal 2025 DRAM front-end cost reductions, excluding HBM, to be in the mid- to high single-digit percentage range, which may impact overall cost efficiency.
The company's fiscal 2025 CapEx is expected to be meaningfully higher, driven by growth in greenfield fab construction and HBM CapEx investments, which could strain financial resources.
Micron Technology Inc (MU) faces competitive pressures in the HBM market, with potential oversupply concerns if additional suppliers enter the market.

Operator

Thank you for standing by, and welcome to Micron's Fourth Quarter 2024 Financial Call.

(Operator Instructions) As a reminder, today's program is being recorded.

And now I'd like to introduce your host for today's program, Satya Kumar, Investor Relations. Please go ahead, sir.

Satya Kumar

Micron Technology Inc - Investor Relations

Thank you, and welcome to Micron Technology's fiscal fourth quarter 2024 Financial Conference Call. On the call with me today are Sanjay Mehrotra, our President and CEO; and Mark Murphy, our CFO. Today's call is being webcast from our Investor Relations site at investors.micron.com including audio and slides. In addition, the press release detailing our quarterly results has been posted on the website, along with the prepared remarks for this call.

Today's discussion of financial results is presented on a non-GAAP financial basis, unless otherwise specified. A reconciliation of GAAP to non-GAAP financial measures can be found on our website. We encourage you to visit our website at micron.com throughout

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