Dell Technologies Inc. (DELL) Q4 2026 Earnings Call

Concluded Feb 26, 2026

Feb 26, 2026 0 turns

Period: FY2026 Q4
Runtime: —
Sources: 2 artifacts

8-K 10-K

Executive readout · one minute

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AI Server Demand and Backlog 38 FY27 Guidance and Forward Uncertainty 35 PC Market and Share Gains 33 Traditional Servers and Storage 33 Pricing and Margin Discipline 16 Supply Chain and Component Costs 12

Management tone

Confident

Net tone +60 · moderate hedging

Grounding quotes

“Across the industry, the environment remains highly dynamic, with unprecedented AI demand creating sustained supply tightness and frequent pricing resets.”
“units are clearly down while TRUs are up”
“We're being prudent in our planning, in our guidance to you, because of the uncertainty associated with the second half, we try to put that in our best reflection in our guidance”
“Higher-than-normal industry channel inventory levels, which delayed price increases.”

Research coverage

2 live sources

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Revenue · derived Q4 $33.38B +39.5% YoY

Gross margin · derived Q4 20.2% -3.5 pp YoY

Net income · derived Q4 $2.26B +47.4% YoY

Research materials

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8-K earnings release Filed Feb 26, 2026 10-K report Filed Mar 16, 2026 Company webcastOpen the original investor-relations page

Quarter detail

How the reported period landed and where the business moved.

Capital returned

Buybacks · derived: $1.85B
Shares repurchased: 14.90M

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