Penguin Solutions Lifts Fiscal 2027 Sales Outlook To About $2.43 Billion After Fourth-Quarter Sales Rise 68%
Memory sales more than doubled and six new AI customers signed, the company said in its 8-K, as it raised its forecast for fiscal 2027.
Penguin Solutions reported fourth-quarter net sales of $567 million, up 68% from a year earlier, in an 8-K filed Tuesday, and raised its fiscal 2027 outlook above the preliminary view it gave last quarter.
What the filing says
The quarter ended August 28, 2026. Net income was $93 million, and diluted earnings per share were $1.29 versus $0.11 a year earlier. On an adjusted basis, earnings were $1.00 per share versus $0.43.
Memory was the engine. Integrated Memory sales rose to $340.8 million from $132.2 million a year earlier, according to the release's tables. Advanced Computing sales rose to $154.0 million from $138.3 million.
For the full fiscal year, net sales were $1.73 billion, up 26%, with net income of $181 million and diluted earnings per share of $2.60 versus $0.28.
The company said it won six new AI infrastructure customers in the quarter, four of them neoclouds, which rent out AI computing capacity. One neocloud customer with $10 billion in contracted compute from a leading AI lab chose Penguin to deploy and operate a 36,000-GPU AI factory in Norway. Another, publicly traded, has more than $3 billion in signed multi-year contracts.
Penguin also closed a $750 million convertible note offering due 2031 with a 0% coupon.
The raised outlook
Penguin now expects fiscal 2027 net sales of about $2.43 billion at the midpoint, growth of roughly 40%, plus or minus 10 percentage points. Last quarter's preliminary view implied $2.17 billion, or growth of about 30%.
It projects earnings of $3.50 per share under standard accounting and $4.45 adjusted, growth of about 35% and 55%. Each carries a range of plus or minus $0.70, on 63 million diluted shares.
CEO Kash Shaikh said growth was relatively flat in the first half of fiscal 2026, then reached 48% in the third quarter and 68% in the fourth. "The proof is in the results," he said.
Yahoo Finance had earlier reported the company lifted its fiscal 2026 sales-growth outlook to 22%.
Shares and the call
Shares were up about 7% at $68.60 in Tuesday after-hours trading, versus the $64.21 regular-session close. That is an early reading on lighter volume.
Management's conference call began at 4:30 p.m. Eastern Tuesday.
The call is where management can say how quickly the new neocloud wins turn into fiscal 2027 sales.
