Dell Technologies Inc. (DELL) Q1 2026 Earnings Conference Call Transcript

Finance Updte

Dell Technologies Inc. (NYSE:DELL) Q1 2026 Earnings Conference Call May 29, 2025 4:30 PM ET

Company Participants

Paul Frantz – Head of IR
Jeff Clarke – Vice Chairman and COO
Yvonne McGill – CFO
Tyler Johnson – SVP and Treasurer

Conference Call Participants

Amit Daryanani – Evercore
Ben Reitzes – Melius Research
Erik Woodring – Morgan Stanley
Wamsi Mohan – Bank of America
Michael Ng – Goldman Sachs
Samik Chatterjee – JPMorgan
Asiya Merchant – Citigroup
Krish Sankar – TD Cowen
David Vogt – UBS
Simon Leopold – Raymond James
Mehdi Hosseini – SIG
Matt Niknam – Deutsche Bank

Operator

Good afternoon, and welcome to the Fiscal Year 2026 First Quarter Financial Results Conference Call for Dell Technologies, Inc. I’d like to inform all participants this call is being recorded at the request of Dell Technologies. This broadcast is the copyrighted property of Dell Technologies, Inc. Any rebroadcast of this information in whole or part without the prior written permission of Dell Technologies is prohibited.

Following prepared remarks, we will conduct a question-and-answer. [Operator Instructions]

I’d like to turn the call over to Paul Frantz, Head of Investor Relations. Mr. Frantz, you may begin.

Paul Frantz

Thanks, everyone for joining us. With me today are Jeff Clarke, Yvonne McGill and Tyler Johnson. Our earnings materials are available on our IR website, and I encourage you to review these materials. Also, please take some time to review the presentation, which includes additional content to complement our discussion this afternoon. Guidance will be covered on today’s call.

During this call, unless otherwise indicated, all references to financial measures refer to non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating income, net income, diluted earnings per share, free cash flow, and adjusted free cash flow. A reconciliation of these measures to their most directly comparable GAAP measures can be found in our

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