Penguin Solutions Inc (NASDAQ:PENG) reported financial results for the third quarter of fiscal 2026 after the market close on Tuesday. Here’s a rundown of the report.
- Penguin Solutions stock is trending after earnings. Where is PENG stock headed?
Penguin Solutions Q3 Highlights
Penguin Solutions reported $478.71 million in revenue for the quarter, beating analyst estimates of $405.53 million, according to Benzinga Pro. Total revenue was up 48% on a year-over-year basis.
The AI factory platform company posted third-quarter adjusted earnings of 84 cents per share, beating estimates of 54 cents per share.
“Penguin Solutions delivered a record quarter, exceeding expectations for both net sales and EPS. This profitable growth acceleration reinforces our confidence that our AI Factory Platform strategy is working,” said Kash Shaikh, CEO of Penguin Solutions.
“Integrated Memory net sales more than doubled year over year, and our AI Infrastructure business continued to build momentum, reflecting strong demand and execution across our memory and AI Infrastructure portfolio.”
Penguin Solutions said it’s raising its full-year outlook again, supported by very strong agentic AI-driven customer demand.
The company now expects full-year 2026 revenue growth of 22%, plus or minus 2%. The updated guidance was raised from a previous outlook for approximately 12% growth. Penguin also guided for full-year adjusted earnings of $2.60 per share, plus or minus 5 cents per share.
Management will further discuss the quarter on an earnings call scheduled for 4:30 p.m. ET.
PENG Shares Pop After The Close
PENG Price Action: Penguin Solutions shares were up 8.53% in after-hours Tuesday, trading at $68.06 at the time of publication, according to Benzinga Pro.
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