HPE Announces Fiscal Year 2017 Outlook - Seite 2

"Hewlett Packard Enterprise is in a strong position," said Whitman in her remarks. "We have a clear strategy, aligned to the market opportunity, and will be more focused than ever on how we innovate in our business models, our products, our solutions and our go-to-market."

Financial Update
Tim Stonesifer, Executive Vice President and CFO of HPE, provided a financial update, including an outlook for FY17.

Reaffirms FY16 Financial Outlook
HPE reaffirmed its FY16 outlook. Revenue is expected to grow 1-2% year-over-year when adjusted for recent divestitures and currency. FY16 non-GAAP EPS is expected to be approximately $1.90 to $1.95, which is at the high end of the original outlook for the year. As communicated on HPE's third quarter earnings call, the company expects to deliver free cash flow of $1.7 to $1.9 billion in FY16, and to return over $3 billion of cash to shareholders this year, in the form of share repurchases and dividends. 

Three Views of FY17 Financial Outlook
Given two pending transactions -- the spin-merge of Enterprise Services with CSC in early April and the spin-merge of Software with Micro Focus in the second half of FY17 -- Stonesifer provided three different views of HPE's FY17 financial outlook:

• An outlook for the company as it stands today, with a full year contribution from ES and Software, which is comparable to current estimates for FY17;
• An outlook as the financial results will actually be reported, with partial year contributions from both ES and Software;
• An outlook for the future HPE, excluding the partial year contributions from both ES and Software in FY17, which gives a more comparable view for FY18.
  
  

Combined Company Outlook
First, as HPE is structured today, including a full year of ES and Software contribution, HPE expects revenue to be flat to down 1% when adjusted for divestitures and currency. HPE expects non-GAAP EPS to be $2.00 to $2.10 and GAAP EPS to be $0.72 to $0.82. On a normalized basis, excluding the impact from restructuring and separation costs, free cash flow is expected to be approximately $3.6 billion to $3.9 billion. 

As Reported Outlook
When adjusted for the lower EPS contribution and expenses associated with the ES and Software transactions, HPE expects reported non-GAAP EPS to be approximately $1.45 to $1.55 and GAAP EPS to be $0.29 - $0.39.