Penguin Solutions Q3 FY2026 Results
Penguin Solutions, Inc. (NASDAQ:PENG) announced third‑quarter fiscal 2026 results that beat analyst expectations. Adjusted earnings per share were $0.84, well above the consensus estimate of $0.56, while revenue reached $479 million, surpassing the $421.4 million forecast. The earnings beat sent the stock up 9% in after‑hours trading, more than erasing a 7.3% decline recorded earlier in the week.
Net sales grew 48% year‑over‑year, driven primarily by strong demand for AI infrastructure and memory solutions. The Integrated Memory segment generated $275.1 million, more than double the comparable period last year, and the Advanced Computing segment posted $137.6 million, a 4% year‑over‑year increase.
GAAP operating income surged 417% year‑over‑year to $51 million, and adjusted operating income rose 67% to $64 million. GAAP diluted EPS improved to $0.68 from a loss of $0.01 in the year‑ago quarter.
The company also raised its full‑year fiscal 2026 outlook. Net‑sales growth is now projected at 22% ± 2%, GAAP EPS is expected to be $1.97 ± $0.05, and adjusted EPS is forecast at $2.60 ± $0.05, with the midpoint of the adjusted EPS guidance exceeding the consensus estimate of $2.28.
Penguin Solutions added four new AI Infrastructure customer logos during the quarter, continuing its land‑and‑expand strategy across both business segments. CEO Kash Shaikh said the quarter was a record for the company, noting that the profitable growth acceleration reinforces confidence in the AI Factory Platform strategy.