Sandisk Corporation Announces 8-for-1 Stock Split & Q1 2027 Financial Results

Summary of Event

On October 29, 2026, Sandisk Corporation (NASDAQ: SNDK) filed a Current Report on Form 8-K reporting its fiscal first quarter 2027 financial results and announcing an 8-for-1 forward stock split approved by its Board of Directors.

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Key Highlights

1. Eight-for-One Forward Stock Split (Item 8.01)

• Ratio: 8-for-1 forward split (stockholders receive 7 additional shares for each share held).
• Record Date: Close of business on November 9, 2026.
• Distribution Date: After market close on Thursday, November 19, 2026.
• Post-Split Trading: Expected to begin at market open on Friday, November 20, 2026, under ticker SNDK.
• Authorized Capital: Amended and Restated Certificate of Incorporation will proportionately expand authorized common stock from 450 million to 3.6 billion shares.

2. Fiscal Q1 2027 Financial Results (Item 2.02)

• Revenue: $11.03 billion, up 23% sequentially and up 378% year-over-year.
  • Datacenter: $4.80 billion (+61% Q/Q)
  • Edge: $5.83 billion (+7% Q/Q)
  • Consumer: $397 million (-29% Q/Q)
• Profitability:
  • GAAP Gross Margin: 85.0%
  • GAAP Operating Income: $8.78 billion (+25% Q/Q)
  • GAAP Net Income: $8.10 billion ($52.60 diluted EPS)
  • Non-GAAP Net Income: $7.62 billion ($49.51 diluted EPS)
• Capital Returns: Repurchased ~3.2 million shares for $5.0 billion during the quarter (6.0 million shares repurchased across the last two quarters, ~4% of shares outstanding).

3. Q2 2027 Outlook

• Revenue Guidance: $12.2 billion to $12.6 billion.
• Non-GAAP Gross Margin: 84.5% to 85.5%.
• Non-GAAP Diluted EPS (Pre-Split): $55.00 to $57.00.

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Market Impact & Significance

This announcement carries high trading significance due to the combination of rapid top-line growth driven by Datacenter demand, aggressive share repurchases, above-expectation earnings, and the retail accessibility boost of an 8-for-1 stock split.