HPE Q1 2026 Earnings
Reported Mar 9, 2026 at 4:08 PM ET · SEC Source
Q1 26 EPS
$0.65
Q1 26 Revenue
$9.30B
Did HPE Beat Earnings? Q1 2026 Results
Hewlett Packard Enterprise delivered a standout fiscal Q1 2026, posting non-GAAP diluted EPS of $0.65 against its own guided range of $0.57 to $0.61, while revenue climbed 18% year over year to $9.30 billion, the clearest signal yet that the Juniper … Read more Hewlett Packard Enterprise delivered a standout fiscal Q1 2026, posting non-GAAP diluted EPS of $0.65 against its own guided range of $0.57 to $0.61, while revenue climbed 18% year over year to $9.30 billion, the clearest signal yet that the Juniper Networks integration is bearing fruit faster than anticipated. The newly formed Networking segment was the defining force behind the quarter, surging 151.5% to $2.71 billion as Juniper's routing and data center networking products fused with HPE's Intelligent Edge business to lift GAAP gross margin to 35.9%, up 670 basis points year over year. Free cash flow swung sharply positive to $708.00 million from negative $877.00 million a year ago, underscoring the improved earnings quality. Heading into the print, expectations were already elevated, and management rewarded that confidence by raising full-year non-GAAP EPS guidance to $2.30 to $2.50 and lifting Networking segment revenue growth expectations to 68% to 73% for fiscal 2026.
Key Takeaways
- • Networking segment revenue surged 151.5% YoY driven by Juniper Networks integration
- • Non-GAAP operating margin expanded to 12.7% from 9.9% YoY
- • GAAP gross margin improved 670 basis points YoY to 35.9%
- • Orders increased double digits year over year across all segments
- • Cloud & AI operating profit margin improved to 10.2% from 8.4% YoY
- • Cash flow from operations improved by $1.6 billion YoY
- • Faster-than-planned Juniper and Catalyst synergies
HPE Forward Guidance & Outlook
For fiscal Q2 2026, HPE estimates revenue of $9.6 billion to $10.0 billion, GAAP diluted net EPS of $0.09 to $0.13, and non-GAAP diluted net EPS of $0.51 to $0.55. For full-year fiscal 2026, HPE reaffirmed revenue growth of 17% to 22% and raised Networking segment revenue growth expectations to 68% to 73%. The company raised full-year non-GAAP diluted EPS guidance to $2.30 to $2.50 and GAAP diluted EPS to $1.02 to $1.22. Non-GAAP operating profit growth is expected at 32% to 40%. Free cash flow guidance was raised to at least $2.0 billion.
HPE YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
HPE Revenue by Segment
With YoY comparisons, source: SEC Filings
“HPE delivered a strong first quarter, outperforming in our networking business and posting one of our most profitable quarters on record. Our Q1 results reflect our newly combined networking innovation, and effective operational discipline in a dynamic commodity supply environment. Demand for our products and solutions was strong, with orders increasing double digits year over year across all segments.”
— Antonio Neri, Q1 2026 Earnings Press Release
HPE Earnings Trends
HPE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HPE EPS Trend
Earnings per share: estimate vs actual
HPE Revenue Trend
Quarterly revenue: estimate vs actual
HPE Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.65 | — | $9.30B | — |
| Q4 25 BEAT FY | $0.58 | $0.62 | +6.90% | $9.68B | -2.55% |
| FY Full Year | $1.90 | $1.94 | +2.32% | $34.30B | -0.68% |
| Q3 25 BEAT | $0.42 | $0.44 | +5.41% | $9.14B | +3.51% |
| Q2 25 BEAT | $0.33 | $0.38 | +16.31% | $7.63B | +1.73% |