Hewlett Packard Enterprise (HPE) Q1 2026 10-Q Quarterly Report
Hewlett Packard Enterprise (HPE) 10-Q quarterly report for Q1 2026, filed with SEC EDGAR on Mar 10, 2026 for the fiscal period ending Jan 31, 2026. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Hewlett Packard Enterprise Q1 2026 10-Q Analysis
Management Discussion & Analysis
- • Revenue $9.3B, up 18.4% YoY (+$1.4B), driven almost entirely by Networking segment post-Juniper acquisition
- • GAAP gross margin 35.9% vs 29.2% YoY; GAAP operating margin 5.1% vs 5.5% YoY; non-GAAP operating margin 12.7% vs 9.9% YoY
- • Best segment: Networking revenue +151.5% to $2.7B, operating margin 23.7%; worst: Cloud & AI revenue -2.7% to $6.3B, operating margin 10.2% vs 8.4% YoY
- • Operating cash flow $1.18B vs -$390M prior year; cash fell to $4.9B from $5.9B; share repurchases $158M; $3.4B buyback authorization remaining
- • Management flagged tariff uncertainty, GPU/memory supply constraints, and public sector spending risk as near-term headwinds to revenue and margin growth
Risk Factors
- • Macro/demand risk: global economic uncertainty and customer spending slowdowns directly impact HPE's enterprise hardware and services revenue
- • Competitive risk: intensifying pressure from cloud hyperscalers (AWS, Azure, GCP) threatening on-premise and hybrid infrastructure market share
- • Supply chain risk: semiconductor and component concentration among limited suppliers creates procurement and margin vulnerability
- • Currency risk: significant international revenue exposure to FX fluctuations affecting reported results and operating margins
- • Debt/liquidity risk: ongoing capital requirements for AI infrastructure buildout and acquisitions may pressure balance sheet flexibility
Hewlett Packard Enterprise Q1 2026 Quarterly FinancialsXBRL
Revenue
$9.3B
▲ +18.4% YoY
Net Income
$452M
▼ -27.9% YoY
Operating Margin
5.1%
▼ -46bp YoY
Net Margin
4.9%
▼ -312bp YoY
ROE
1.8%
Total Assets
$75.8B
▼ -0.2% QoQ
EPS (Diluted)
$0.31
▼ -29.5% YoY
Operating Cash Flow
$1.2B
▲ +402.1% YoY
Source: XBRL data from Hewlett Packard Enterprise Q1 2026 10-Q filing on SEC EDGAR. All figures in USD.
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