HPE earnings date and guidance
HPE's next results are expected on December 3, 2026. Watch whether AI orders become profitable deliveries and collected cash.
What has HPE guided for fiscal 2027?
For fiscal 2027, HPE promises revenue growth of 13.0%–17.0%, adjusted EPS growth of 16.0%–20.0% and at least $5,000 million of free cash flow. Free cash flow is operating cash after net investment in equipment and software, so it must ultimately fund debt repayment, dividends and buybacks. HPE also targets an adjusted operating margin of 14.0%–15.0%, meaning the company expects to retain that share of sales as operating profit before interest and tax.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue | Quarter to Oct 2026 | 13,900 | 14,800 | Sep 2, 2026 |
| GAAP diluted net EPS | Year to Oct 2026 | 2.93 | 3.03 | Sep 2, 2026 |
| Non-GAAP diluted net EPS | Year to Oct 2026 | 3.75 | 3.85 | Sep 2, 2026 |
| Revenue growth — FY2027 | Year to Oct 2027 | 13.0% | 17.0% | Sep 2, 2026 |
| Non-GAAP diluted net EPS growth | Year to Oct 2027 | 16.0% | 20.0% | Sep 2, 2026 |
| Free cash flow — FY2027 | Year to Oct 2027 | 5,000 | Sep 2, 2026 |
Has HPE kept its past promises?
Free cash flow is the money left after operations and specified investment spending. HPE can use it for dividends, buybacks, debt repayment, or acquisitions. In September 2026, Myers said HPE intended to return at least 75% of fourth-quarter free cash flow to shareholders. That promise cannot yet be judged against completed fourth-quarter results.
What has HPE's revenue and profit trend been?
Revenue reached $12,213 million, up from $9,136 million a year earlier. Gross margin rose from 29.2% to 40.1%. Operating income increased from $247 million to $1,393 million. HPE retained more of each sales dollar and converted more of it into operating profit.
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12,213 | 10,678 | 9,301 | 9,679 | 9,136 | 7,627 | 7,854 | 8,458 |
| Gross margin | 40.1% | 36.5% | 35.9% | 33.5% | 29.2% | 28.4% | 29.2% | 30.8% |
| Operating income | 1,393 | 747 | 470 | -8 | 247 | -1,109 | 433 | 693 |
| Net income | 1,540 | 624 | 452 | 175 | 305 | -1,050 | 627 | 1,366 |
| EPS, diluted | 1.06 | 0.44 | 0.31 | 0.11 | 0.21 | -0.82 | 0.44 | 0.99 |
What this means. The company’s own free cash flow can differ from ours because it includes its financial-services business and may use a different definition; ours is simply cash from operations minus capital spending.
What should I watch in HPE's next results?
The decisive evidence will show whether HPE’s late-year orders become profitable deliveries and collected cash.
During fiscal 2027, watch Helios and Oracle shipments. More revenue will help only if inventory and collections remain controlled. A profitable rack that is unfinished or awaiting acceptance can still consume cash.