Latest 7 stories · newest Nov 4, 2026
Penguin Solutions Inc. has entered into a definitive agreement to sell its Cree LED business to Transom Capital Group in an all-cash deal, marking a strategic shift to focus on data center AI infrastructure and memory.
Penguin Solutions named former Edgio CFO Stephen Cumming as SVP and CFO. In a separate release, the company reported fiscal 2026 results and raised full-year fiscal 2027 outlook despite industry headwinds.
Penguin Solutions announced record net sales and operating income for fiscal 2026 driven by strong AI data center demand. The company raised its fiscal 2027 outlook citing accelerating AI infrastructure business momentum.
The company reported record net sales of $479 million and non-GAAP earnings per share of $0.84 for Q3 fiscal 2026. Driven by strong AI demand, the company raised its full-year outlook for both revenue and earnings.
Nate Olmstead is stepping down as CFO on July 8, 2026, with VP Aaron Johnson assuming interim role while the company searches for a permanent replacement. Penguin Solutions reaffirmed full-year fiscal 2026 outlook with net sales and diluted EPS expected at the high end of guidance range, driven by s…
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