HP Enterprise sees FY24 EPS $1.82-$2.02, consensus $2.14

HPE expects FY24 financial results to continue the momentum from fiscal year 2023 and deliver sustainable, profitable growth. The company forecasts its revenue growth to be 2% to 4%, in constant currency, with the effects of foreign exchange expected to be a 50-to-100-basis-point headwind. GAAP operating profit growth is forecasted to be 15% to 21%, and non-GAAP operating profit growth is forecasted to be approximately 3% to 5% year-over-year. This excludes costs of approximately $0.8 billion primarily related to stock-based compensation expense, transformation costs, amortization of intangible assets, and acquisition, disposition, and other related charges. HPE is expecting fiscal year 2024 GAAP diluted net earnings per share (“EPS”) of $1.83 to $2.03 and non-GAAP diluted net EPS of between $1.82 and $2.02. The non-GAAP diluted net EPS outlook excludes after-tax costs of approximately one cent per share related primarily to stock-based compensation, amortization of intangible assets, acquisition, disposition and other related charges, structural tax rate adjustment, transformation costs, and adjustments for the sale of H3C. HPE expects fiscal year 2024 free cash flow to be $1.9 billion to $2.1 billion. The company is targeting an 8% increase in its dividend per share for fiscal 2024.”