HPE stock sinks 8% on weak guidance for fiscal 2026

Hewlett Packard Enterprise shares sank 8% in premarket trading on Thursday after the company issued disappointing guidance for its fiscal 2026. At a meeting with analysts, HPE said its adjusted earnings per share for the year would be in the range of $2.20 to $2.40. Analysts were expecting earnings per share of $2.40, according to LSEG. Revenue growth, meanwhile, will be between 5% and 10%, far lower far lower than Wall Street estimates of 17%. CEO Antonio Neri told CNBC's "Squawk Box" on Thursday that the FY26 guide was a "pro forma guide." "What that means? Means that we reset the baseline based on the fact that we only include the four months of Juniper in our 2025 results," Neri said Thursday. "And so we wanted to be very transparent of the fact that the growth rate will be in that, you know, high single digits."