Penguin Solutions, Inc. (PENG) surged 6.4% during Tuesday's trading session, outperforming the broader market following the release of its fiscal Q1 2026 earnings report.
The tech solutions provider reported adjusted earnings of $0.49 per share, surpassing the consensus estimate of $0.44, while revenue rose to $343.07 million, beating expectations of $338.64 million. The company attributed its strong performance to growth in its Integrated Memory segment and operational excellence. CEO Mark Adams highlighted a shift in the AI market toward enterprise adoption, which aligns with Penguin Solutions' strengths in solution design and integration.
Penguin Solutions also reaffirmed its fiscal 2026 guidance, projecting net sales growth of 6% and adjusted EPS of $2.00 +/- $0.25. The upbeat results and outlook fueled investor optimism, driving the stock higher during the session.

