Hewlett Packard Enterprise stock rose 3% after Virtual Analyst Day raised guidance outlook for FY21, according to press release. Outlook is fueled by the company’s industry-leading portfolio of edge-to-cloud solutions and unique capabilities that align with customer needs.
- Company estimates non-GAAP diluted earnings per share (EPS) to hit $1.56 to $1.76, up 10% year-over-year basis.
- GAAP EPS outlook is expected to be $0.34 to $0.55, up $0.77 year-over-year basis.
- Non-GAAP operating profit growth to average 15-20% year-over-year basis
- Free cash flow for 2021 to range $0.9B-$1.1 billion, up 65% year-over-year basis
- Free cash flow to grow at a 3-year compound annual growth rate of over 50% between FY21 and FY23
- Company has established strategic priorities to stabilize its core businesses, improve growth areas, and accelerate pivot as-a-service.
- HP to prioritize balanced dividend distributions and investments to fuel future growth through dynamic capital allocation
Hewlett Packard Enterprise stock gaining on guidance outlook. HPE: NYSE is up on premarket 2.73%.
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