Dell Technologies Inc. (DELL) Q2 2027 Earnings Call Transcript

Dell Technologies Inc. (DELL) Q2 2027 Earnings Call September 1, 2026 4:30 PM EDT
Company Participants
Paul Frantz - Vice President of Investor Relations
Jeffrey Clarke - COO & Vice Chairman
David Kennedy - Chief Financial Officer
Conference Call Participants
Amit Daryanani - Evercore ISI Institutional Equities, Research Division
Benjamin Reitzes - Melius Research LLC
Mark Newman - Bernstein Institutional Services LLC, Research Division
Katherine Murphy - Goldman Sachs Group, Inc., Research Division
Wamsi Mohan - BofA Securities, Research Division
Erik Woodring - Morgan Stanley, Research Division
Asiya Merchant - Citigroup Inc., Research Division
Michael Tsvetanov - Wells Fargo Securities, LLC, Research Division
Joseph Cardoso - JPMorgan Chase & Co, Research Division
David Vogt - UBS Investment Bank, Research Division
Presentation
Operator
Good afternoon, and welcome to the Fiscal Year 2027 Second 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. [Operator Instructions]
I'd like to turn the call over to Paul Frantz, Head of Investor Relations. Mr. Frantz, you may begin.
Paul Frantz
Vice President of Investor Relations
Thanks, everyone, for joining us. With me today are Jeff Clarke, David Kennedy 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.
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

Facts Only

* Event: Dell Technologies Inc. Q2 2027 Earnings Call.
* Date: September 1, 2026, 4:30 PM EDT.
* Company: Dell Technologies Inc. (DELL).
* Participants included: Paul Frantz (VP of Investor Relations), Jeffrey Clarke (COO & Vice Chairman), David Kennedy (CFO), and various institutional research analysts (Evercore ISI, Melius Research LLC, Bernstein, Goldman Sachs, BofA Securities, Morgan Stanley, Citigroup, Wells Fargo, JPMorgan Chase).
* Financial references during the call referred to non-GAAP measures, including gross margin, operating expenses, operating income, net income, diluted earnings per share, free cash flow, and adjusted free cash flow.

Executive Summary

Dell Technologies Inc. announced its Fiscal Year 2027 Second Quarter Financial Results Conference Call on September 1, 2026, at 4:30 PM EDT. The call included participants from Dell Technologies, including the CEO/Vice Chairman and CFO, alongside analysts from major financial institutions such as Evercore ISI, Melius Research LLC, Bernstein, Goldman Sachs, BofA Securities, Morgan Stanley, Citigroup, Wells Fargo, and JPMorgan Chase. The discussion focused on non-GAAP financial measures, including gross margin, operating expenses, operating income, net income, diluted earnings per share, free cash flow, and adjusted free cash flow. Participants included representatives from the company's investor relations and management.

Full Take

The structure of the announcement prioritizes setting a factual baseline by immediately framing financial discussions around non-GAAP metrics, which establishes an immediate operational context for the audience before any specific results are presented. The broad assembly of institutional participants signals that the reported figures are subject to immediate scrutiny across multiple investment viewpoints. A key pattern observed is the reliance on established institutional voices (e.g., Morgan Stanley, Goldman Sachs) alongside broader research entities to validate the performance narrative. This suggests a system where corporate disclosures are inherently situated within a larger, interconnected market consensus, potentially creating an environment where deviations from consensus attract intense focus. The implication for cognitive sovereignty lies in recognizing that the formal presentation of financial reality is always mediated by the language chosen (non-GAAP vs. GAAP) and the selection of the audience, forcing analysis to move beyond the presented numbers to understand the narrative architecture controlling perception. What assumptions about the "comparability" of non-GAAP measures are implicitly accepted by the collective group? How does this assembly of diverse institutional voices impact the perceived stability versus volatility of the reported performance?

Sentinel — Human

Confidence

This text appears to be a direct, unaltered segment of a formal corporate earnings call transcript, exhibiting the characteristics of authentic, structured business communication.

Signals Detected

Varied sentence structure and formal legalistic phrasing typical of corporate transcripts.

Consistent, formal tone reflecting standard financial disclosure protocols.

Structure follows the predictable pattern of an earnings call introduction and participant listing.

Presence of specific, verifiable corporate names and procedural language suggests direct source material.

Human Indicators

The text is a verbatim transcript excerpt from a formal corporate earnings call, characterized by highly specific terminology (non-GAAP measures, specific participant roles) which strongly implies original human recording.