Hewlett Packard Enterprise Co (HPE) 10-Q Quarterly Report March 2019

Operating Profit: GAAP $456 million, up 100% from the prior-year period; non-GAAP $669 million, up 19% from the prior-year period driven by improved gross margins and cost reductions from HPE Next

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Earnings Per Share: GAAP $0.13, down 86% from the prior-year period EPS from continuing operations due primarily to one-time, non-cash adjustments related to U.S. tax reform; non-GAAP $0.42, up 31% from the prior-year period and above the previously provided outlook of $0.33 to $0.37 per share

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Cash Flow from Operations: $382 million, up 169% from $142 million in the prior-year period

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Free Cash Flow: ($190) million, up $222 million from the prior-year period

FY 2019 Outlook:

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Earnings Per Share: Raising GAAP diluted net earnings per share outlook to $0.88 to $0.98 and non-GAAP diluted net earnings per share outlook to $1.56 to $1.66

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Free Cash Flow: Reiterating free cash flow guidance of $1.4 to $1.6 billion

SAN JOSE, Calif., February 21, 2019 - Hewlett Packard Enterprise (NYSE: HPE) today announced financial results for its fiscal 2019 first quarter, ended January 31, 2019.

“Today we reported another strong quarter for Hewlett Packard Enterprise as we continue to execute against our strategy of growing in the Intelligent Edge and delivering profitable growth in Hybrid IT,” said Antonio Neri, President and CEO of HPE. “We significantly expanded both gross and operating margins and drove 31% growth in non-GAAP earnings per share. Looking forward, we are confident that HPE’s differentiated, software-defined solutions will continue to gain traction with customers looking to harness the explosion of data, driving accelerated revenue growth starting in Q2.”

First Quarter Fiscal Year 2019

The following information was filed by Hewlett Packard Enterprise Co (HPE) on Thursday, February 21, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hewlett Packard Enterprise Co's 10-Q Quarterly Report:

Revenue - Product Highlight
Items which may cause the cash conversion cycle in a particular period to differ include, but are not limited to, changes in business mix, changes in payment terms (including extended payment terms from suppliers), the extent of receivables factoring, seasonal trends, the timing of revenue recognition and inventory purchases within the period, acquisition activity and the impact of increased commodity costs.

Financial - Cash Flow Highlight
Our key cash flow metrics were as follows: For the three months ended January 31, 2018, following the adoption of the accounting standards update for the classification and presentation of restricted cash in the statements of cash flows, we included $12 million of restricted cash movement during the period, which was previously reported within net cash used in investing activities, and is now reported within Decrease in cash, cash equivalents and restricted cash in our Condensed Consolidated Statements of Cash Flow.
Financial - Expense Highlight
Amortization of Intangible Assets For the three months ended January 31, 2019, as compared to the prior-year period, amortization expense decreased by $6 million or 8% due to certain intangible assets associated with prior acquisitions reaching the end of their amortization periods, partially offset by the addition of intangible assets from recent acquisitions.
Financial - Shares Highlight
The increase was due primarily to a higher cash usage for share repurchases and dividend payments in the current period.
Financial - Earnings Highlight
We continue to execute on our HPE Next initiative, which includes streamlining our offerings and business processes, and shifting investments in innovation towards high growth and higher margin solutions and services, which is providing a favorable impact to the performance of our business units in the current period.
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The decrease in Hybrid IT...Read more
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HPE Pointnext net revenue decreased...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Hewlett Packard Enterprise Co provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: HPE
CIK: 1645590
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-19-002482
Submitted to the SEC: Tue Mar 05 2019 12:04:40 PM EST
Accepted by the SEC: Tue Mar 05 2019
Period: Thursday, January 31, 2019
Industry: Computer And Office Equipment

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Hewlett Packard Enterprise Co (HPE) SEC Filing 10-Q Quarterly report for the period ending Thursday, January 31, 2019

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