0001645590false00016455902024-02-292024-02-29

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
February 29, 2024
Date of Report (Date of Earliest Event Reported)
HEWLETT PACKARD ENTERPRISE COMPANY
(Exact name of registrant as specified in its charter)
Delaware001-3748347-3298624
(State or other jurisdiction
of incorporation)
(Commission File Number)
 
(I.R.S. Employer
Identification No.)
1701 East Mossy Oaks Road,Spring,TX77389
 (Address of principal executive offices)
(Zip code)


(678)259-9860
(Registrant’s telephone number, including area code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, par value $0.01 per shareHPENYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



 
Item 2.02Results of Operations and Financial Condition.
The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
On February 29, 2024, Hewlett Packard Enterprise Company (“HPE” or "Hewlett Packard Enterprise") issued a press release relating to its results of operations for its fiscal quarter ended January 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 7.01Regulation FD Disclosure.
HPE is also announcing a quarterly dividend of $0.13 per share, the second in Hewlett Packard Enterprise's fiscal year 2024, payable on or about April 12, 2024, to stockholders of record as of the close of business on March 15, 2024. Each quarterly dividend must be declared by the Board of Directors out of legally available sources prior to payment.

Forward-looking statements.
This Form 8-K and the press release furnished herewith contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties, and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett Packard Enterprise Company and its consolidated subsidiaries ("Hewlett Packard Enterprise") may differ materially from those expressed or implied by such forward-looking statements and assumptions. The words "believe," "expect," "anticipate," "guide," "optimistic," "intend," "aim," "will," "estimates," "may," "could," "should" and similar expressions are intended to identify such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any anticipated financial or operational benefits associated with the recent segment realignment; any projections, estimations, or expectations of addressable markets and their sizes, revenue (including annualized revenue run rate), margins, expenses (including stock-based compensation expenses), investments, effective tax rates, interest rates, the impact of tax law changes and related guidance and regulations, net earnings, net earnings per share, cash flows, liquidity and capital resources, inventory, goodwill, impairment charges, order backlog, deferred tax assets, share repurchases, dividends, currency exchange rates, repayments of debts including our asset-backed debt securities, or other financial items; any projections or estimations of future orders, including as-a-service orders; any statements of the plans, strategies, and objectives of management for future operations, as well as the execution and consummation of corporate transactions or contemplated acquisitions (including but not limited to our proposed acquisition of Juniper Networks, Inc.) and dispositions (including but not limited to the disposition of H3C shares and the receipt of proceeds therefrom), research and development expenditures, and any resulting benefit, cost savings, charges, or revenue or profitability improvements; any statements concerning the expected development, performance, market share, or competitive performance relating to products or services; any statements concerning technological and market trends, the pace of technological innovation, and adoption of new technologies, including artificial intelligence and products and services offered by Hewlett Packard Enterprise; any statements regarding current or future macroeconomic trends or events and the impacts of those trends and events on Hewlett Packard Enterprise and our financial performance, including but not limited to supply chain, demand for our products and services, any statements regarding future regulatory trends and the resulting legal and reputational exposure, including but not limited to those relating to environmental, social, and governance issues; any statements regarding pending investigations, claims, or disputes; any statements of expectation or belief, including those relating to future guidance and the financial performance of Hewlett Packard Enterprise; and any statements of assumptions underlying any of the foregoing.

Risks, uncertainties and assumptions include the need to address the many challenges facing Hewlett Packard Enterprise's businesses; the competitive pressures faced by Hewlett Packard Enterprise's businesses; risks associated with executing Hewlett Packard Enterprise's strategy; the impact of macroeconomic and geopolitical trends and


events, including but not limited to supply chain constraints, use and development of artificial intelligence, the inflationary environment, the ongoing conflicts between Russia and Ukraine and in the Middle East, and the relationship between China and the U.S.; the need to effectively manage third-party suppliers and distribute Hewlett Packard Enterprise's products and services; the protection of Hewlett Packard Enterprise's intellectual property assets, including intellectual property licensed from third parties and intellectual property shared with its former parent; risks associated with Hewlett Packard Enterprise's international operations (including from public health problems, such as pandemics or epidemics, and geopolitical events, such as, those mentioned above); the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends (including the desirability of a unified hybrid cloud offering); the execution of Hewlett Packard Enterprise’s transformation and mix shift of its portfolio of offerings; the execution and performance of contracts by Hewlett Packard Enterprise and its suppliers, customers, clients, and partners, including any impact thereon resulting from macroeconomic or geopolitical events, such as, those mentioned above; the prospect of a shutdown of the U.S. federal government; the hiring and retention of key employees; the execution, integration, consummation, and other risks associated with business combination, disposition, and investment transactions, including but not limited to the risks associated with the completion of our proposed acquisition of Juniper Networks, Inc. and our ability to integrate and implement our plans, forecasts, and other expectations with respect to the consolidated business; the impact of changes to privacy, cybersecurity, environmental, global trade, and other governmental regulations; changes in our product, lease, intellectual property, or real estate portfolio; the payment or non-payment of a dividend for any period; the efficacy of using non-GAAP, rather than GAAP, financial measures in business projections and planning; the judgments required in connection with determining revenue recognition; impact of company policies and related compliance; utility of segment realignments; allowances for recovery of receivables and warranty obligations; provisions for, and resolution of, pending investigations, claims, and disputes; the impacts of tax law changes and related guidance or regulations; and other risks that are described herein, including but not limited to the risks described in Hewlett Packard Enterprise’s Annual Report on Form 10-K for the fiscal year ended October 31, 2023, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and in other filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission. Hewlett Packard Enterprise assumes no obligation and does not intend to update these forward-looking statements, except as required by applicable law.

Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
Exhibit NumberDescription
104Cover Page Interactive Data File (embedded within the Inline XBRL document).



SIGNATURE
        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HEWLETT PACKARD ENTERPRISE COMPANY
DATE: February 29, 2024
By:/s/ David Antczak
Name:David Antczak
Title:Senior Vice President, General Counsel
and Corporate Secretary 
 
 



Exhibit 99.1
sam2016pressreleasev1a17.jpg

Hewlett Packard Enterprise
1701 E. Mossy Oaks Road
Spring, TX 77389-1767

hpe.com

News Release
Hewlett Packard Enterprise reports fiscal 2024 first quarter results
Exceeds profitability expectations and continues to scale recurring revenue, advancing long-term strategy
HOUSTON – February 29, 2024 – Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for the first quarter ended January 31, 2024.
"HPE exceeded our profitability expectations and drove near-record year-over-year growth in our recurring revenue in the face of market headwinds, demonstrating the relevance of our strategy,” said Antonio Neri, president and CEO of Hewlett Packard Enterprise. “Despite a mixed quarter, I remain very confident that our focus on customer-centric innovation and our track record of operational discipline will allow us to capitalize on the significant market opportunities in AI as well as across edge and hybrid cloud and to deliver value to our shareholders.”
“HPE drove momentum in annualized revenue run-rate and gross margins in Q1 despite challenges brought by the softening of the networking market and GPU deal timing,” said Marie Myers, executive vice president and CFO of Hewlett Packard Enterprise. “The fundamentals of our business are strong, we are controlling what we can control, and we are optimistic about delivering strong shareholder returns over the remainder of the fiscal year.”

First Quarter Fiscal 2024 Financial Results
•Revenue: $6.8 billion, down 14% from the prior-year period in actual dollars and in constant currency(1)
•Annualized revenue run-rate (“ARR”)(2): $1.4 billion, up 42% from the prior-year period and 41% in constant currency(1)
•Gross margins:
◦GAAP of 36.4%, up 240 basis points from the prior-year period and up 160 basis points sequentially
◦Non-GAAP(1) of 36.2%, up 200 basis points from the prior-year period and up 140 basis points sequentially


•Diluted net earnings per share (“EPS”):
◦GAAP of $0.29, down 24% from the prior-year period, and down 41% sequentially, above the midpoint of our guidance range of $0.24 to $0.32
◦Non-GAAP(1) of $0.48, down 24% from the prior-year period and down 8% sequentially, at the high end of our guidance range of $0.42 to $0.50
•Cash flow from operations: $64 million, an increase of $893 million from the prior-year period
•Free cash flow (“FCF”)(1)(3): $(482) million, an increase of $844 million from the prior-year period
•Capital returns to shareholders: $172 million in the form of dividends and share repurchases

First Quarter Fiscal 2024 Segment Results
•Server revenue was $3.4 billion, down 23% from the prior-year period in actual dollars and in constant currency(1), with 11.4% operating profit margin, compared to 15.7% from the prior-year period. The Server business segment combines the previously separately reported Compute and HPC & AI business segments, with adjustments for certain product lines that are now reported in Hybrid Cloud. The merged Server segment more accurately reflects HPE’s position in the market as well as recent organizational and leadership changes that were implemented in Q1 FY24.
•Intelligent Edge revenue was $1.2 billion, up 3% from the prior-year period in actual dollars and 2% in constant currency(1), with 29.4% operating profit margin, compared to 19.4% in the prior-year period.
•Hybrid Cloud revenue was $1.2 billion, down 10% from the prior-year period in actual dollars and in constant currency(1), with 3.8% operating profit margin, compared to 5.8% from the prior-year period.
•Financial Services revenue was $873 million, flat from the prior-year period in actual dollars and down 2% in constant currency(1), with 8.5% operating profit margin, compared to 7.2% from the prior-year period. Net portfolio assets of $13.2 billion, up 0.3% from the prior-year period in actual dollars and up 0.7% in constant currency(1). The business delivered return on equity of 15.4%, down 2.4 points from the prior-year period.
Dividend
The HPE Board of Directors declared a regular cash dividend of $0.13 per share on the company’s common stock, payable on April 12, 2024, to stockholders of record as of the close of business on March 15, 2024.
Fiscal 2024 Second Quarter Outlook
HPE estimates revenue to be in the range of $6.6 billion to $7.0 billion. HPE estimates GAAP diluted net EPS to be in the range of $0.20 to $0.25 and non-GAAP diluted net EPS(1) to be in the range of $0.36 to $0.41. Fiscal 2024 second quarter non-GAAP diluted net EPS estimates exclude net after-tax adjustments of approximately $0.16 per diluted share, primarily related to stock-based compensation expense and amortization of intangible assets.

Fiscal 2024 Outlook
HPE estimates fiscal 2024 revenue growth to be flat to 2%, in constant currency(1)(5), and fiscal 2024 GAAP operating profit growth to be in the range of 7% to 11% and non-GAAP operating profit(1)(4) growth to be flat to 2%. HPE estimates GAAP diluted net EPS to be in the range of $1.81 and $1.91 and non-


GAAP diluted net EPS(1) to be in the range of $1.82 and $1.92. Fiscal 2024 non-GAAP diluted net EPS estimates exclude net after-tax adjustments of approximately $0.01 per diluted share, primarily related to stock-based compensation expense, amortization of intangible assets, transformation costs, acquisition, disposition and other related charges, structural tax-rate adjustments, H3C income, and adjustments related to the sale of H3C. HPE estimates free cash flow(1)(3)(5) to be at least $1.9 billion.

1 A description of HPE’s use of non-GAAP financial information is provided below under “Use of non-GAAP financial information and key performance metrics.”
2 Annualized Revenue Run-Rate (“ARR”) is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake edge-to-cloud platform services revenue, related financial services revenue (which includes rental income from operating leases and interest income from finance leases), and software-as-a-Service, software consumption revenue, and other as-a-Service offerings, recognized during a quarter and multiplied by four. We use ARR as a performance metric. ARR should be viewed independently of net revenue and is not intended to be combined with it.
3 FCF represents cash flow from operations, less net capital expenditures (investments in property, plant & equipment (“PP&E”) less proceeds from the sale of PP&E), and adjusted for the effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash.
4 FY24 non-GAAP operating profit excludes costs of approximately $1.0 billion primarily related to stock-based compensation expense, amortization of intangible assets, transformation costs, and acquisition, disposition and other related charges.
5 Hewlett Packard Enterprise provides certain guidance on a non-GAAP basis. In reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K, Hewlett Packard Enterprise is unable to provide a reconciliation to the most directly comparable GAAP financial measure without unreasonable efforts, as the Company cannot predict some elements that are included in such directly comparable GAAP financial measure. These elements could have a material impact on the Company’s reported GAAP results for the guidance period. Refer to the discussion of non-GAAP financial measures below for more information.

About Hewlett Packard Enterprise
Hewlett Packard Enterprise (NYSE: HPE) is the global edge-to-cloud company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way people live and work, HPE delivers unique, open and intelligent technology solutions as a service. With offerings spanning Cloud Services, Server, Intelligent Edge, Software, and Hybrid Cloud, HPE provides a consistent experience across all clouds and edges, helping customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com.
Media Contact:
Laura Keller
Laura.Keller@hpe.com
Investor Contact:
Jeff Kvaal
investor.relations@hpe.com


Use of non-GAAP financial information and key performance metrics    

To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a generally accepted accounting principles (“GAAP”) basis, Hewlett Packard Enterprise provides financial measures, including revenue on a constant currency basis (including at the business segment level), non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue), non-GAAP income tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share and free cash flow (“FCF”). Hewlett Packard Enterprise also provides forecasts of revenue growth on a constant currency basis, non-GAAP diluted net earnings per share, non-GAAP operating profit growth, and FCF. Reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measures for this quarter and prior periods are included in the tables below or elsewhere in the materials accompanying this news release. In addition an explanation of the ways in which Hewlett Packard Enterprise’s management uses these non-GAAP measures to evaluate its business, the substance behind Hewlett Packard Enterprise’s decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which Hewlett Packard Enterprise’s management compensates for those limitations, and the substantive reasons why Hewlett Packard Enterprise’s management believes that these non-GAAP measures provide supplemental useful information to investors is included further below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for revenue, gross profit, gross profit margin, operating profit (earnings from operations), operating profit margin (earnings from operations as a percentage of net revenue), net earnings, diluted net earnings per share, and cash flow from operations prepared in accordance with GAAP.
In addition to the supplemental non-GAAP financial information, Hewlett Packard Enterprise also presents annualized revenue run-rate (“ARR”) and as-a-Service (“AAS”) orders as performance metrics. ARR is a financial metric used to assess the growth of the Consumption Services offerings. ARR represents the annualized revenue of all net HPE GreenLake edge-to-cloud platform services revenue, related financial services revenue (which includes rental income for operating leases and interest income from finance leases), and software-as-a-service (“SaaS”), software consumption revenue, and other as-a-service offerings, recognized during a quarter and multiplied by four. AAS orders are an overlay across all business segments contributing to HPE's consumption-based services (both recurring and non-recurring revenues), and includes hardware, as well as HPE GreenLake as-a-Service, Aruba SaaS, storage SaaS, and other software assets. ARR & AAS orders should be viewed independently of net revenue and deferred revenue and are not intended to be combined with any of these items.


Forward-looking statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties, and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett Packard Enterprise Company and its consolidated subsidiaries ("Hewlett Packard Enterprise") may differ materially from those expressed or implied by such forward-looking statements and assumptions. The words "believe", "expect", "anticipate", "optimistic", "intend", "guides", "will", "estimates", "may", "could", "should", and similar expressions are intended to identify such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any anticipated financial or operational benefits associated with the recent segment realignment; any projections, estimations, or expectations of addressable markets and their sizes, revenue (including annualized revenue run rate), margins, expenses (including stock-based compensation expenses), investments, effective tax rates, interest rates, investments, net earnings, net earnings per share, cash flows, liquidity and capital resources, inventory, order backlog, share repurchases, dividends, currency exchange rates, repayments of debts, amortization of intangible assets, or other financial items; any projections or estimations of future orders, including as-a-service orders; any statements of the plans, strategies, and objectives of management for future operations, as well as the execution and consummation of corporate transactions or contemplated acquisitions (including our proposed acquisition of Juniper Networks, Inc.) and dispositions (including disposition of our H3C shares and the receipt of proceeds therefrom), research and development expenditures, and any resulting benefit, cost savings, charges, or revenue or profitability improvements; any statements concerning the expected development, performance, market share, or competitive performance relating to products or services; any statements concerning technological and market trends, the pace of technological innovation, and adoption of new technologies, including artificial intelligence and other products and services offered by Hewlett Packard Enterprise; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on Hewlett Packard Enterprise and our financial performance, including but not limited to demand for our products and services; any statements of expectation or belief, including those relating to future guidance and the financial performance of Hewlett Packard Enterprise; and any statements of assumptions underlying any of the foregoing.
Risks, uncertainties and assumptions include the need to address the many challenges facing Hewlett Packard Enterprise's businesses; the competitive pressures faced by Hewlett Packard Enterprise's businesses; risks associated with executing Hewlett Packard Enterprise's strategy; the impact of macroeconomic and geopolitical trends and events, including but not limited to supply chain constraints, the use and development of artificial intelligence, the inflationary environment, the ongoing conflicts between Russia and Ukraine and in the Middle East, and the relationship between China and the U.S.; the need to effectively manage third-party suppliers and distribute Hewlett Packard Enterprise's products and services; the protection of Hewlett Packard Enterprise's intellectual property assets, including intellectual property licensed from third parties and intellectual property shared with its former parent; risks associated with Hewlett Packard Enterprise's international operations (including public health crises, such as pandemics or epidemics, and geopolitical events, such as, but not limited to, those mentioned above); the development of and transition to new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends (including the desirability of a unified hybrid cloud offering); the execution of Hewlett Packard Enterprise’s ongoing transformation and mix shift of its portfolio of offerings; the execution and performance of contracts by Hewlett Packard Enterprise and its suppliers, customers, clients, and partners, including any impact thereon resulting from macroeconomic or geopolitical events, such as, but not limited to, those mentioned above; the prospect of a shutdown of the U.S. federal government; the hiring and retention of key employees; the execution, integration, consummation, and other risks associated with business combination, disposition, and investment transactions, including but not limited to the risks associated with the completion of our proposed acquisition of Juniper Networks, Inc. and our ability to integrate and implement our plans, forecasts, and other expectations with respect to the consolidated business; the impact of changes to privacy, cybersecurity, environmental, global trade, and other governmental regulations; changes in our product, lease, intellectual property, or real estate portfolio; the payment or non-payment of a dividend for any period; the efficacy of using non-GAAP, rather than GAAP, financial measures in business projections and planning; the judgments required in connection with determining revenue recognition; impact of company policies and related compliance; utility of segment realignments; allowances for recovery of receivables and warranty obligations; provisions for, and resolution of, pending investigations, claims, and disputes; the impacts of tax law changes and related guidance or regulations; and other risks that are described herein, including but not limited to the risks described in Hewlett Packard Enterprise’s Annual Report on Form 10-K for the fiscal year ended October 31, 2023, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and in other filings made by Hewlett Packard Enterprise from time to time with the Securities and Exchange Commission.
As in prior periods, the financial information set forth in this press release, including tax-related items, reflects estimates based on information available at this time. While Hewlett Packard Enterprise believes these estimates to be reasonable, these amounts could differ materially from reported amounts in the filings made by Hewlett Packard Enterprise from time to


time with the Securities and Exchange Commission. Hewlett Packard Enterprise assumes no obligation and does not intend to update these forward-looking statements, except as required by applicable law.
 
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Earnings
(Unaudited)

 For the three months ended
 January 31, 2024October 31, 2023January 31, 2023
In millions, except per share amounts
Net revenue$6,755 $7,351 $7,809 
Costs and Expenses:
Cost of sales4,298 4,792 5,151 
Research and development582 578 623 
Selling, general and administrative1,216 1,332 1,257 
Amortization of intangible assets71 72 73 
Transformation costs 20 56 102 
 Disaster (recovery) charges — (4)1 
Acquisition, disposition and other related charges43 18 11 
Total costs and expenses6,230 6,844 7,218 
Earnings from operations 525 507 591 
Interest and other, net(1)
(88)(23)(26)
Earnings from equity interests46 65 58 
Earnings before provision for taxes483 549 623 
(Provision) benefit for taxes(96)93 (122)
Net earnings$387 $642 $501 
Net Earnings Per Share:
Basic$0.30 $0.50 $0.39 
Diluted$0.29 $0.49 $0.38 
Cash dividends declared per share$0.13 $0.12 $0.12 
Weighted-average Shares Used to Compute Net Earnings Per Share:
Basic1,301 1,295 1,298 
Diluted1,316 1,315 1,315 















HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP measures
(Unaudited)
For the three months ended
January 31, 2024October 31, 2023January 31, 2023
 Dollars in millions
GAAP net revenue$6,755 $7,351 $7,809 
GAAP cost of sales4,298 4,792 5,151 
GAAP gross profit2,457 2,559 2,658 
Non-GAAP Adjustments
  Stock-based compensation expense16 9 16 
Disaster recovery(25)(10)— 
Non-GAAP gross profit$2,448 $2,558 $2,674 
GAAP gross profit margin36.4 %34.8 %34.0 %
Non-GAAP adjustments(0.2)%— %0.2 %
Non-GAAP gross profit margin36.2 %34.8 %34.2 %



For the three months ended
January 31, 2024October 31, 2023January 31, 2023
Dollars in millions
GAAP earnings from operations$525 $507 $591 
Non-GAAP Adjustments
Amortization of intangible assets71 72 73 
Transformation costs20 56 102 
Disaster (recovery) charges(25)(14)1 
Stock-based compensation expense141 71 140 
Acquisition, disposition and other related charges43 18 11 
Non-GAAP earnings from operations$775 $710 $918 
GAAP operating profit margin7.8 %6.9 %7.6 %
Non-GAAP adjustments3.7 %2.8 %4.2 %
Non-GAAP operating profit margin11.5 %9.7 %11.8 %





HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP measures
(Unaudited)
For the three months ended
January 31, 2024Diluted net earnings per shareOctober 31, 2023Diluted net earnings per shareJanuary 31, 2023Diluted net earnings per share
Dollars in millions, except per share amounts
GAAP net earnings$387 $0.29 $642 $0.49 $501 $0.38 
Non-GAAP Adjustments:
Amortization of intangible assets71 0.05 72 0.05 73 0.06 
Transformation costs20 0.02 56 0.05 102 0.07 
Disaster (recovery) charges(25)(0.02)(14)(0.01)1 — 
Stock-based compensation expense141 0.11 71 0.05 140 0.11 
Acquisition, disposition and other related charges43 0.03 18 0.01 11 0.01 
Earnings from equity interests(2)
(46)(0.03)2 — 12 0.01 
Loss on equity investments, net61 0.05 40 0.03 — — 
Adjustments for taxes(16)(0.02)(203)(0.15)(13)(0.01)
Other adjustments(3)
2 — (4)— 1 — 
Non-GAAP net earnings$638 $0.48 $680 $0.52 $828 $0.63 





For the three months ended
January 31, 2024October 31, 2023January 31, 2023
In millions
Net cash provided by (used in) operating activities$64 $2,843 $(829)
Investment in property, plant and equipment(656)(675)(794)
Proceeds from sale of property, plant and equipment96 255 159 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash14 (102)138 
Free cash flow$(482)$2,321 $(1,326)



HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Condensed Consolidated Balance Sheets

 As of
 January 31, 2024October 31, 2023
(Unaudited)(Audited)
In millions, except par value
ASSETS
Current Assets:
Cash and cash equivalents$3,758 $4,270 
Accounts receivable, net of allowances3,781 3,481 
Financing receivables, net of allowances3,629 3,543 
Inventory6,049 4,607 
Other current assets3,027 3,047 
Total current assets20,244 18,948 
Property, plant and equipment, net5,997 5,989 
Long-term financing receivables and other assets11,542 11,377 
Investments in equity interests2,249 2,197 
Goodwill and intangible assets18,570 18,642 
Total assets $58,602 $57,153 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Notes payable and short-term borrowings$4,957 $4,868 
Accounts payable8,125 7,136 
Employee compensation and benefits1,027 1,724 
Taxes on earnings182 155 
Deferred revenue3,718 3,658 
Accrued restructuring121 180 
Other accrued liabilities4,505 4,161 
Total current liabilities 22,635 21,882 
Long-term debt7,840 7,487 
Other non-current liabilities6,659 6,546 
Stockholders’ Equity
Common stock, $0.01 par value (9,600 shares authorized; 1,300 and 1,283 shares issued and outstanding as of January 31, 2024 and October 31, 2023, respectively)
13 13 
Additional paid-in capital28,239 28,199 
Accumulated deficit(3,728)(3,946)
Accumulated other comprehensive loss(3,108)(3,084)
Total HPE stockholders’ equity21,416 21,182 
Non-controlling interests52 56 
Total stockholders’ equity21,468 21,238 
Total liabilities and stockholders’ equity $58,602 $57,153 




HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(Unaudited)
For the three months ended
January 31, 2024January 31, 2023
In millions
Cash Flows from Operating Activities:
Net earnings $387 $501 
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and amortization657 656 
Stock-based compensation expense141 140 
Provision for inventory and credit losses32 45 
Restructuring charges7 72 
Deferred taxes on earnings(22)20 
Earnings from equity interests(46)(58)
Other, net72 (60)
Changes in Operating Assets and Liabilities, Net of Acquisitions:
Accounts receivable(310)(112)
Financing receivables(190)(523)
Inventory(1,461)495 
Accounts payable1,041 (2,195)
Taxes on earnings67 46 
Restructuring (78)(96)
Other assets and liabilities(233)240 
Net cash provided by (used in) operating activities64 (829)
Cash Flows from Investing Activities:
Investment in property, plant and equipment(656)(794)
Proceeds from sale of property, plant and equipment96 159 
Purchases of investments
(16)— 
Proceeds from maturities and sales of investments
4 4 
Financial collateral posted(439)(682)
Financial collateral received271 108 
Payments made in connection with business acquisitions, net of cash acquired— (32)
Net cash used in investing activities(740)(1,237)
Cash Flows from Financing Activities:
Short-term borrowings with original maturities less than 90 days, net(17)745 
Proceeds from debt, net of issuance costs859 261 
Payment of debt(515)(661)
Net payments related to stock-based award activities(94)(107)
Repurchase of common stock(3)(73)
Cash dividends paid to non-controlling interests, net of contributions(8)— 
Cash dividends paid to shareholders(169)(156)
Net cash provided by financing activities53 9 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash14 138 
Decrease in cash, cash equivalents and restricted cash(609)(1,919)
Cash, cash equivalents and restricted cash at beginning of period4,581 4,763 
Cash, cash equivalents and restricted cash at end of period$3,972 $2,844 


HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Segment Information
(Unaudited)
 For the three months ended
 January 31, 2024October 31, 2023January 31, 2023
In millions
Net Revenue:
Server(4)
$3,352 $3,574 $4,332 
Hybrid Cloud(4)
1,248 1,341 1,384 
Intelligent Edge(4)
1,201 1,410 1,169 
Financial Services873 876 873 
Corporate Investments and other(4)
238 263 234 
Total segment net revenue6,912 7,464 7,992 
Elimination of intersegment net revenue(157)(113)(183)
Total consolidated net revenue$6,755 $7,351 $7,809 
Earnings Before Taxes(4):
Server$383 $360 $678 
Hybrid Cloud
47 51 80 
Intelligent Edge353 382 227 
Financial Services74 70 63 
Corporate Investments and other(10)(16)(22)
Total segment earnings from operations847 847 1,026 
Unallocated corporate costs and eliminations(72)(137)(108)
Stock-based compensation expense(141)(71)(140)
Amortization of intangible assets(71)(72)(73)
Transformation costs(20)(56)(102)
Disaster recovery (charges)25 14 (1)
Acquisition, disposition and other related charges(43)(18)(11)
Interest and other, net(1)
(88)(23)(26)
Earnings from equity interests46 65 58 
Total pretax earnings$483 $549 $623 
 



HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Segment Information
(Unaudited)
 For the three months endedChange (%)
 January 31, 2024October 31, 2023January 31, 2023Q/QY/Y
Dollars in millions
Net Revenue:
Server(4)
$3,352 $3,574 $4,332 (6%)(23%)
Hybrid Cloud(4)
1,248 1,341 1,384 (7)(10)
Intelligent Edge(4)
1,201 1,410 1,169 (15)3
Financial Services873 876 873 ——
Corporate Investments and other(4)
238 263 234 (10)2
Total segment net revenue6,912 7,464 7,992 (7)(14)
Elimination of intersegment net revenue(157)(113)(183)39(14)
Total consolidated net revenue$6,755 $7,351 $7,809 (8%)(14%)


 For the three months endedChange in operating profit margin (pts)
 January 31, 2024October 31, 2023January 31, 2023Q/QY/Y
Segment Operating Profit Margin(4):
Server11.4 %10.1 %15.7 %1.3(4.3)
Hybrid Cloud
3.8 %3.8 %5.8 %—(2.0)
Intelligent Edge29.4 %27.1 %19.4 %2.310.0
Financial Services8.5 %8.0 %7.2 %0.51.3
Corporate Investments and other(4.2 %)(6.1 %)(9.4 %)1.95.2
Total segment operating profit margin12.3 %11.3 %12.8 %1.0(0.5)





HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
Calculation of Diluted Net Earnings Per Share
(Unaudited)
 For the three months ended
 January 31, 2024October 31, 2023January 31, 2023
In millions, except per share amounts
Numerator:
GAAP net earnings$387 $642 $501 
Non-GAAP net earnings$638 $680 $828 
Denominator:
Weighted-average shares used to compute basic net earnings per share 1,301 1,295 1,298 
Dilutive effect of employee stock plans15 20 17 
Weighted-average shares used to compute diluted net earnings per share1,316 1,315 1,315 
GAAP Net Earnings Per Share
Basic$0.30 $0.50 $0.39 
Diluted$0.29 $0.49 $0.38 
Non-GAAP Net Earnings Per Share
Basic$0.49 $0.53 $0.64 
Diluted$0.48 $0.52 $0.63 

(1)    Interest and other, net includes tax indemnification and other adjustments, non-service net periodic benefit cost, and interest and other, net.
(2)    For the three months ended January 31, 2024, includes the equity in earnings from H3C equity method investment and all periods include the amortization of the basis difference in the Company’s investment.
(3)    Other adjustments includes non-service net periodic benefit cost and tax indemnification and other adjustments.
(4)    As previously disclosed, effective as of the beginning of the first quarter of fiscal 2024, in order to align the segment financial reporting more closely with its business structure, the Company established two new reportable segments, Hybrid Cloud and Server. Hybrid Cloud includes the historical Storage segment, HPE GreenLake Flex Solutions (which provides flexible as-a-service IT infrastructure through the HPE GreenLake edge-to-cloud platform and was previously reported under the Compute and the High Performance Computing & Artificial Intelligence ("HPC & AI") segments), Private Cloud, and Software (previously reported under the Corporate Investments and Other segment). The Server segment combines the previously separately reported Compute and HPC & AI segments, with adjustments for certain product lines that are now reported in Hybrid Cloud. Additionally, certain products and services previously reported in the financial results for the HPC & AI segment were moved to be reported in the Hybrid Cloud segment, and the Athonet business and certain components of the Communications and Media Solutions business, both previously reported in the financial results for Corporate Investments and Other, moved to be reported in the Intelligent Edge segment.
As a result, the Company’s new organizational structure consists of the following segments: (i) Server; (ii) Hybrid Cloud; (iii) Intelligent Edge; (iv) Financial Services; and (v) Corporate Investments and Other. The Company is reporting under this re-aligned segment structure beginning with the results of the first quarter of fiscal 2024.
The Company has reflected these changes to its segment information retrospectively to the earliest period presented, which primarily resulted in the realignment of net revenue and operating profit for each of the segments as described above. These changes had no impact on Hewlett Packard Enterprise’s previously reported consolidated net revenue, net earnings, net earnings per share or total assets.


Use of non-GAAP financial measures
To supplement Hewlett Packard Enterprise’s condensed consolidated financial statement information presented on a GAAP basis, Hewlett Packard Enterprise provides non-GAAP financial measures including revenue on a constant currency basis (including at the business segment level), non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue), non-GAAP income tax rate, non-GAAP net earnings, non-GAAP diluted net earnings per share, and FCF. Hewlett Packard Enterprise also provides forecasts of revenue growth on a constant currency basis, non-GAAP diluted net earnings per share, non-GAAP operating profit growth, and FCF.
These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP in the United States. The GAAP measure most directly comparable to net revenue on a constant currency basis is net revenue. The GAAP measure most directly comparable to non-GAAP gross profit is gross profit. The GAAP measure most directly comparable to non-GAAP gross profit margin is gross profit margin. The GAAP measure most directly comparable to non-GAAP operating profit (non-GAAP earnings from operations) is earnings from operations. The GAAP measure most directly comparable to non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) is operating profit margin (earnings from operations as a percentage of net revenue). The GAAP measure most directly comparable to non-GAAP income tax rate is income tax rate. The GAAP measure most directly comparable to non-GAAP net earnings is net earnings. The GAAP measure most directly comparable to non-GAAP diluted net earnings per share is diluted net earnings per share. The GAAP measure most directly comparable to FCF is cash flow from operations. Reconciliations of each of these non-GAAP financial measures to their most directly comparable GAAP measures for this quarter and prior periods are included in the tables above or elsewhere in the materials accompanying this news release.
Usefulness of non-GAAP financial measures to investors
Hewlett Packard Enterprise believes that providing the non-GAAP financial measures stated above, in addition to the related GAAP measures provides investors with greater transparency to the information used by Hewlett Packard Enterprise’s management in its financial and operational decision making and allows investors to see Hewlett Packard Enterprise’s results “through the eyes” of management. Hewlett Packard Enterprise further believes that providing this information provides Hewlett Packard Enterprise’s investors with a supplemental view to understand the Company’s historical and prospective operating performance and to evaluate the efficacy of the methodology and information used by Hewlett Packard Enterprise’s management to evaluate and measure such performance. Disclosure of these non-GAAP financial measures also facilitates the comparisons of Hewlett Packard Enterprise’s operating performance with the performance of other companies in the same industry that supplement their GAAP results with non-GAAP financial measures that may be calculated in a similar manner.
Economic substance of and material limitations associated with non-GAAP financial measures used by Hewlett Packard Enterprise
Net revenue on a constant currency basis assumes no change to the foreign exchange rate utilized in the comparable prior-year period. This measure assists investors with evaluating the Company’s past and future performance, without the impact of foreign exchange rates, as more than half of our revenue is generated outside of the U.S. Non-GAAP gross profit and non-GAAP gross profit margin are defined to exclude charges relating to the stock-based compensation expense, and disaster (recovery) charges. Non-GAAP operating profit (non-GAAP earnings from operations) and non-GAAP operating profit margin (non-GAAP earnings from operations as a percentage of net revenue) consist of earnings from operations or earnings from operations as a percentage of net revenue excluding the items mentioned above and charges relating to the amortization of intangible assets, transformation costs, and acquisition, disposition and other related charges. Non-GAAP net earnings and non-GAAP diluted net earnings per share consist of net earnings or diluted net earnings per share excluding the charges previously stated, as well as earnings from equity interests, gain or loss on equity investments, other adjustments, and adjustments for taxes. The Adjustments for taxes line item includes certain income tax valuation allowances and separation taxes, the impact of tax reform, structural rate adjustment, excess tax benefit from stock-based compensation, and adjustments for additional taxes or tax benefits associated with each non-GAAP item.
Hewlett Packard Enterprise believes that excluding the items mentioned above from the non-GAAP financial measures provides a supplemental view to management and investors of its consolidated financial performance and presents the financial results of the business without costs that Hewlett Packard Enterprise’s management does not believe to be reflective of ongoing operating results. Exclusion of these items can have a material impact on the equivalent GAAP measure and cash flows thus limiting their use as analytical tools. These limitations are discussed below or elsewhere in the materials accompanying this news release. More specifically, Hewlett Packard Enterprise’s management excludes each of those items mentioned above for the following reasons:



•Hewlett Packard Enterprise incurs charges relating to the amortization of intangible assets and excludes these charges for purposes of calculating these non-GAAP measures. Such charges are significantly impacted by the timing and magnitude of Hewlett Packard Enterprise’s acquisitions. Hewlett Packard Enterprise excludes these charges for the purpose of calculating these non-GAAP measures, primarily because they are non-cash expenses and the Company’s internal benchmarking analyses evidence that many industry participants and peers present non-GAAP financial measures excluding intangible asset amortization. Although this does not directly affect Hewlett Packard Enterprise’s cash position, the loss in value of intangible assets over time can have a material impact on the equivalent GAAP earnings measure.
•Transformation costs represent net costs related to the (i) HPE Next Plan and (ii) Cost Optimization and Prioritization Plan and include restructuring charges, program design and execution costs, costs incurred to transform the Company’s IT infrastructure, net gains from the sale of real estate and any impairment charges on real estate identified as part of the initiatives. Hewlett Packard Enterprise excludes these costs as they are discrete costs related to two specific transformation programs that were announced in 2017 and 2020, respectively, as multi-year programs necessary to transform the business and IT infrastructure following material divestiture transactions in 2017 and in response to COVID-19 and an evolving product portfolio in fiscal 2020. The HPE Next Plan and the Cost Optimization and Prioritization Plan are substantially complete. The exclusion of the transformation program costs from the non-GAAP financial measures, as stated above, is to provide a supplemental measure of the Company’s operating results that do not include material HPE Next Plan and the Cost Optimization and Prioritization Plan costs as the Company’s management does not believe such costs to be reflective of its ongoing operating cost structure. Further, the transformation costs for these plans have materially fluctuated since 2017, have been materially declining since 2021 and the Company does not expect these costs to be material. Hewlett Packard Enterprises management believes non-GAAP measures excluding these costs are useful to management and investors for comparing operating performance across multiple periods.
•Disaster (recovery) charges are primarily related to the exit of the Company’s businesses in Russia and Belarus, and include credit losses of financing and trade receivables, employee severance and abandoned assets. Disaster charges also include direct costs or recovery of these costs related to COVID-19 as a result of Hewlett Packard Enterprise-hosted, co-hosted, or sponsored event cancellations and subsequent shift to a virtual format. Hewlett Packard Enterprise excludes Disaster (recovery) charges from these non-GAAP measures as the specific charges are non-recurring charges and not indicative of the operational performance of the Company’s business.
•Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date. Although stock-based compensation is a key incentive offered to employees, Hewlett Packard Enterprise excludes these charges for the purpose of calculating these non-GAAP measures, primarily because they are non-cash expenses, and the Company’s internal benchmarking analyses evidence that many industry participants and peers present non-GAAP financial measures excluding stock-based compensation expense.
•Hewlett Packard Enterprise incurs costs related to its acquisition, disposition and other related charges. The charges are direct expenses, such as professional fees and retention costs, most of which are treated as non-cash or non-capitalized expenses. For the first quarter of 2024, these charges were driven by costs associated with the pending acquisition of Juniper Networks, in addition to prior acquisitions of Axis and Athonet. For the first quarter of 2023, these charges were driven by acquisitions of Zerto and Determined AI. Charges may also include expenses associated with disposal activities including legal and arbitration settlements in connection with certain dispositions. Hewlett Packard Enterprise’s management considers these acquisitions and divestitures to be discrete events. The Company excludes these costs as these expenses are inconsistent in amount and frequency and are significantly impacted by the timing and nature of its acquisitions and divestitures In addition, the Company’s internal benchmarking analyses evidence that many industry participants and peers present non-GAAP financial measures excluding these charges.
•For the first fiscal quarter of 2024 and prospectively, the adjustment to earnings from equity interests includes the equity in earnings from the H3C investment. In connection with the planned divestiture of the H3C investment, the Company stopped reporting H3C earnings in the non-GAAP results as the Company no longer receives dividends from


this investment due to the Put Share Purchase Agreement described in Note 20 “Equity Method Investments” to the Consolidated Financial Statements in Item 8 of Part II of the Company Annual Report on Form 10-K for the fiscal year ended October 31, 2023. All periods presented include the amortization of the basis difference in this investment. For the first fiscal quarter of 2023, this adjustment also included the Company’s portion of intangible asset impairment charges from H3C. The Company believes that eliminating these amounts for purposes of calculating non-GAAP financial measures facilitates the evaluation of the current operating performance.
•Hewlett Packard Enterprise excludes gains and losses (including impairments) on its non-marketable equity investments because the Company does not believe they are reflective of normal continuing business operations. These adjustments are reflected in Interest and other, net in the Condensed Consolidated Statements of Earnings. The Company believes eliminating these adjustments for the purposes of calculating non-GAAP measures facilitates the evaluation of its current operating performance.
•Hewlett Packard Enterprise utilizes a structural long-term projected non-GAAP income tax rate in order to provide consistency across the interim reporting periods and to eliminate the effects of items not directly related to the Company’s operating structure that can vary in size and frequency. When projecting this long-term rate, Hewlett Packard Enterprise evaluated a three-year financial projection. The projected rate assumes no incremental acquisitions in the three-year projection period and considers other factors including Hewlett Packard Enterprise’s expected tax structure, its tax positions in various jurisdictions and current impacts from key legislation implemented in major jurisdictions where Hewlett Packard Enterprise operates. For fiscal 2024, the Company will use a projected non-GAAP income tax rate of 15%, which reflects currently available information as well as other factors and assumptions. The non-GAAP income tax rate could be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in Hewlett Packard Enterprise’s geographic earnings mix including due to acquisition activity, or other changes to the Company’s strategy or business operations. The Company will re-evaluate its long-term rate as appropriate. For fiscal 2023, the Company had a non-GAAP tax rate of 14%. Hewlett Packard Enterprise’s management believes that making these adjustments for purposes of calculating non-GAAP measures, facilitates a supplemental evaluation of the Company’s current operating performance and comparisons to past operating results.
•FCF is defined as cash flow from operations, less net capital expenditures (investments in property, plant & equipment (“PP&E”) less proceeds from the sale of PP&E), and adjusted for the effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash. FCF does not represent the total increase or decrease in cash for the period. Hewlett Packard Enterprise’s management and investors can use FCF for the purpose of determining the amount of cash available for investment in the Company’s businesses, repurchasing stock and other purposes as well as evaluating its historical and prospective liquidity.
Compensation for material limitations with use of non-GAAP financial measures
These non-GAAP financial measures have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hewlett Packard Enterprise’s results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are that they can have a material impact on the equivalent GAAP earnings measures and cash flows, they may be calculated differently by other companies (limiting the usefulness of those measures for comparative purposes) and may not reflect the full economic effect of the loss in value of certain assets. Hewlett Packard Enterprise compensates for these limitations on the use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only as a supplement. Hewlett Packard Enterprise also provides a reconciliation of each non-GAAP financial measure to its most directly comparable GAAP financial measure for this quarter and prior periods within this news release and in other written materials that include these non-GAAP financial measures, and Hewlett Packard Enterprise encourages investors to review those reconciliations carefully.

v3.24.0.1
Cover Page
Feb. 29, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 29, 2024
Entity Registrant Name HEWLETT PACKARD ENTERPRISE COMPANY
Entity Incorporation, State or Country Code DE
Entity File Number 001-37483
Entity Tax Identification Number 47-3298624
Entity Address, Address Line One 1701 East Mossy Oaks Road,
Entity Address, City or Town Spring,
Entity Address, State or Province TX
Entity Address, Postal Zip Code 77389
City Area Code (678)
Local Phone Number 259-9860
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock, par value $0.01 per share
Trading Symbol HPE
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001645590
Amendment Flag false
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