In addition, you may also be asked to complete a practical financial modeling-related case study. Non-GAAP net earnings and non-GAAP diluted net earnings per share consist of net earnings or diluted net earnings per share excluding those same charges, as well as an adjustment to earnings from equity interests, non-service net periodic benefit credit, litigation judgment, early debt redemption costs, tax indemnification and related adjustments, certain income tax valuation allowances and separation taxes, the impact of tax reform and excess tax benefit from stock-based compensation. The GAAP measure most directly comparable to non-GAAP operating profit margin is operating profit margin. Amortization of intangible assets, though not directly affecting Hewlett Packard Enterprises cash position, represents the loss in value of intangible assets over time. Margin (pts), Calculation of Diluted Net Earnings Per Share, Weighted-average shares used to compute basic net (loss) earnings per share, Dilutive effect of employee stock plans(d), Weighted-average shares used to compute diluted net earnings per share, Weighted-average shares used to compute basic net earnings per share. Assuming they are in the same industry, you could start to compare the businesses based on: All of the above criteria need to be assessed in three ways: how they are in (1) the past, (2) the near-term future, and (3) the long-term future. These client-facing professionals bring in investors and are responsible for retaining them. This is a basic question regarding your understanding about what the role requires. PE Hub's Obey Martin Manayiti has the latest in our Black History Month series of interviews with private equity professionals who are Black. Ms. Carter served as the Vice President of Cummins Inc., a machinery design and manufacturing company, and as President of the Cummins Distribution business unit from 2008 until May 2015. Yes. This is one of those private equity interview questions that you really have to prepare for. Unlike hedge fund and long-only marketing and IR, which involve constant fundraising and prospecting, PE IR professionals have a limited time horizon for . 1 Adjusted to eliminate the effects of currency. About myself and experience mentioned on the resume. Non-GAAP gross profit and non-GAAP gross profit margin are defined to exclude charges relating to the amortization of initial direct costs, stock-based compensation expense and disaster charges. Screening was done by HR on the phone - questions asked were about overtime, expected pay, vacation etc. HPE has 13 directors. The transfer agent does not maintain records of shares bought and sold through brokerage accounts and held in "street name." Hewlett Packard Enterprise Company Reconciliations of each of these non-GAAP financial measures to GAAP information are included in the tables above or elsewhere in the materials accompanying this news release. (To elaborate on your answer, provide highlights of the deal as follows): All other questions related to the transaction will be some sort of derivative of the above question or dig deeper into the above transaction and expand in more detail on any of the points above. Hewlett Packard Enterprise believes that most financing companies did not elect this practical expedient and therefore the Company excludes these costs to facilitate a more meaningful evaluation of its current operating performance and comparisons to its peers. ended, Change in Operating Case studies are a great way for PE firms to quickly get a full picture of your financial modeling skills and valuation skills. The Board has determined that each of Daniel Ammann, Pamela L. Carter, Jean M. Hobby, George R. Kurtz, Raymond J. These market-driven retirement-related adjustments are primarily due to the change in pension plan assets and liabilities which are tied to financial market performance. Member of: Spring, TX 77389-1767 In the fourth quarter of fiscal 2021, following the conclusion of litigation proceedings, Hewlett Packard Enterprise received $2.35 billion from a litigation judgment. With the acquisition of Athonet, HPE now has one of the most complete private 5G and Wi-Fi portfolios for CSP and enterprise customers and we will offer it as a service through HPE GreenLake., HPE expands private 5G solutions for both telcos and the enterprise. The GAAP measure most directly comparable to net debt and operating company net debt is total company debt. Audit. "Investor relations" (IR) roles exist at both investment firms ( private equity firms, hedge funds, asset management firms, etc.) This acquisition builds on HPEs February 2022 investment in Pachyderm through its venture capital arm, Hewlett Packard Pathfinder, to speed time-to-market for AI innovation at lower data processing and operating costs. Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Investment Banking Interview Questions & Answers, Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Technical knowledge (finance, accounting, modeling), Transaction experience (deals youve worked on), Firm knowledge (what you know about the PE firm), Fit and personality (how well you fit in with the culture of the firm), Describe the industry and the companys business model, Talk about the valuation that the company sold for (, Do you think it was high, low, or other comments, Outline the strategic rationale for the transaction, Point out both the sellers perspective and the buyers perspective on the, Challenges or hurdles you had to overcome to get the deal done, The transaction the PE firm acquired them in, Whatever else you can find out about them. (d) Diluted net earnings per share reflects any dilutive effect of restricted stock awards, stock options and performance based awards, but the effect is excluded when calculating GAAP diluted net (loss) per share because it would be anti-dilutive. Previously Mr. Ozzie served on the board of Hewlett-Packard Company, an information technology company. email: bod-hpe@hpe.com. Are most of HPEs directors independent? #3 - Why not work for a Hedge Fund / Portfolio Company? PO Box 64854 Mr. Noski previously served as Chief Financial Officer of AT&T Corporation from 1999 to 2002 and also served as Vice Chairman of the Board of Directors in 2002. Free cash flow does not represent the total increase or decrease in cash for the period. Mr. DAmelio brings to our board of directors robust expertise and proven leadership in finance, corporate development, operations, IT, and supply chain across multiple industries. Do independent directors meet in executive session without HPEs management? Hewlett Packard Enterprise also provides forecasts of non-GAAP diluted net earnings per share and free cash flow. Guide to Private Equity Interview Questions #1 - Why are you interested in Private Equity? How can I get a copy of your SEC filings? What skill do you consider to be the most valuable in an investor relations role? Hello Sunshine is a mission-driven content and media business founded by Reese Witherspoon. Hewlett Packard Enterprise compensates for the limitations on its use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only as a supplement. How many directors does HPE have and how long is the term of office for each director? Thank you for your Feeback. Thank you for reading this guide to Private Equity Interview Questions. Additionally, HPE plans to integrate Pachyderm with upcoming versions of the HPE Machine Learning Development System, which eliminates the complexity and cost to build and train models with a complete, ready-to-use solution. For fiscal 2022, the Company used a projected non-GAAP income tax rate of 14%, which reflected current available information as well as other factors and assumptions. Being already a savvy investor is a plus; Evaluation. She was very polite and described her professional experiences, as well as current role at the company. During his time at Pfizer, he led the company through a multi-year transformation to an industry leading, science-based biopharmaceutical company. share, Diluted net HOUSTON, Texas February 23, 2023 Hewlett Packard Enterprise (NYSE: HPE) today announced the expansion of its connected edge-to-cloud offering with the acquisition of Athonet, a private cellular network technology provider that delivers mobile core networks to enterprises and communication service providers. This role is diverse. Stock splits occur at the discretion of HPE's Board of Directors. For more detailed information on the individuals and their biographies, please see HPEs Board of Directors page. Fourth quarter non-GAAP diluted net EPS excludes after-tax adjustments of $0.80 per diluted share, primarily for goodwill impairment, transformation costs, stock-based compensation expense, and the amortization of intangible assets, Intelligent Edge revenue was $965 million, up 18% from the prior-year period in actual dollars and 23% when adjusted for currency, with 13.3% operating profit margin, compared to 10.9% in the prior-year period. Fourth Quarter Fiscal 2022 Financial Results: Fourth Quarter Fiscal 2022 Segment Results. All directors and officers are required to abide by it. Previously, Mr. Ozzie served as Chief Software Architect of Microsoft Corporation from 2006 until December 2010, after having served as Chief Technical Officer of Microsoft from 2005 to 2006. Combined with the HPE telco and Aruba networking portfolios, Athonet will put HPE at the forefront of a growing market that is predicted by IDC to increase to more than $1.6 billion1 by 2026. Hewlett Packard Enterprise excludes these charges for purposes of calculating these non-GAAP measures to facilitate a more meaningful evaluation of Hewlett Packard Enterprises current operating performance and comparisons to Hewlett Packard Enterprises operating performance in other periods. When projecting this long-term rate, Hewlett Packard Enterprise evaluated a three-year financial projection. Tarek Robbiati, EVP & Chief Financial Officer Hewlett Packard Enterprises management also uses these non-GAAP measures to further its own understanding of Hewlett Packard Enterprises segment operating performance. No. We are now entering a very different phase of the company, one where the combination of our rightsized cost structure and substantial order book is expected to deliver profitable growth that is increasingly recurring at higher margins as our as-a-service transformation continues to unfold.. Fiscal 2023 non-GAAP diluted net EPS estimates exclude after-tax adjustments of $0.58 per diluted share, primarily related to stock-based compensation expense, amortization of intangible assets and transformation costs. Available for viewing and downloading from our web site: SEC Filings. Research in advance on the firms website and write down notes on the portfolio companies you find the most interesting. May 23-24, 2023. As executive producer, she has 4 Annie Awards, 1 Emmy, and 1 OSCAR nomination. Ms. Carter serves as Chair of the Board of Enbridge Inc., a global energy infrastructure company and Broadridge Financial Solutions, Inc., a financial industry servicing company, and formerly served as a director of CSX Corporation, a rail based freight transportation company. Contact Us. Created on 1 January 2019, the Exteriors division is led by Michael Fenlon and is active on a global scale. Select forms. (Unaudited) For the three months ended. Dr. Regina E. Dugan is President and Chief Executive Officer of Wellcome Leap Inc. Dr. Dugan is an internationally recognized business executive, producer, engineer-artist, taskmaster, and product developer. The investor's total investment value in HPE remains the same at $5,000 until the stock price moves up or down. HPE's director independence standards are posted on this website and are included in the proxy statement that HPE prepares and distributes each year in connection with its annual meeting of stockholders. Before its acquisition by McAfee in October 2004, Mr. Kurtz founded and served as CEO of Foundstone, Inc., security products and services company, starting in October 1999. Box 64874 Prepare for the 4 most common types of questions. HPE stock may be purchased from just about any brokerage firm, including discount or online brokerage services. Overview, With the acquisition of Athonet, HPE now has one of the most complete private 5G and Wi-Fi portfolios for CSP and enterprise customers and we will offer it as a service through HPE GreenLake., Athonet was founded to provide customers with private 4G and 5G solutions that deliver carrier-grade reliability and performance to suit their increasing and more challenging connectivity needs., GAAP of 32.9%, flat from the prior-year period and down 160 basis points sequentially, Non-GAAP of 33.1%, up 10 basis points from the prior-year period and down 160 basis points sequentially, GAAP of ($0.23), down 112% from the prior-year period and down 174% sequentially and includes non-cash goodwill impairment charge of $905 million, Non-GAAP of $0.57, up 10% from the prior-year period and up 19% sequentially, GAAP of 33.4%, down 30 basis points from the prior-year period, Non-GAAP of 33.9%, flat from the prior-year period, GAAP of $0.66, down 74% from the prior-year period and includes non-cash goodwill impairment charge of $905 million, Non-GAAP of $2.02, up 3% from the prior-year period, and above the midpoint guidance provided at our 2022 Securities Analyst Meeting (SAM), Reiterates fiscal 2023 revenue growth of 2%-4% adjusted for currency, Estimates Q1 fiscal 2023 GAAP diluted net EPS to be in the range of $0.32 to $0.40 and non-GAAP diluted net EPS to be in the range of $0.50 to $0.58, Reiterates fiscal 2023 GAAP diluted net EPS to be in the range of $1.38 to $1.46 and non-GAAP diluted net EPS to be in the range of $1.96 to $2.04, GAAP of ($0.23), down 112% from the prior-year period and down 174% sequentially, due primarily to the goodwill impairment charge in the current period and the prior-year period gain on the Itanium litigation judgment, Non-GAAP of $0.57, up 10% from the prior-year period and up 19% sequentially. They invest in Windmills, Powerplants etc. Another important factor is the form of consideration and mix of cash vs. share (see the previous question). Hewlett Packard Enterprise further believes that providing this information better enables Hewlett Packard Enterprises investors to understand Hewlett Packard Enterprises operating performance and to evaluate the efficacy of the methodology and information used by Hewlett Packard Enterprises management to evaluate and measure such performance. We are on the lookout for an organized Investor Relations Coordinator - Private Equity to join our amazing team at Northbound Search in New York, NY. Private equity deal activity was somewhat Dickensian in 2022. As part of the interview process, you may be asked to complete a case study, either in the office or at home, after the interview. Title: HPE Securities Analyst Meeting 2022, Time: Wednesday, October 19 at 2:30pm CT / 3:30pm ET, Speakers: With enterprises facing complex connectivity challenges across large and remote sites, private 5G offers high levels of coverage, reliability and mobility across campus and industrial environments. 1701 E Mossy Oaks Road HPE has approximately 1.8 billion shares outstanding. As a consequence, this can give you a feel for the variety of the work (in terms of investment type) that you will face. If a PE firm raises a $1 billion fund and turns it into $2.5 billion, it will earn a percentage of that $1.5 billion return depending on the time frame and terms of the LP/GP agreement. Total Results : 1102. As mentioned above, there are generally four types of questions you'll usually encounter in a PE interview. Spring, TX 77389 We are private markets retained search and recruitment experts, combining knowledge, networks and connections with leading-edge technology to secure the right people across strategies, functions and geographies. All the basic questions about working with teams, deadlines, etc. You can order a copy of recent financial reports. HPC & AI market share is 37% and includes four of the global top-10 supercomputers and three of the top five, Compute revenue was $3.7 billion, up 16% from the prior-year period in actual dollars and 22% when adjusted for currency, with 14.7% operating profit margin, compared to 9.4% from the prior-year period. In addition to HPE, he also serves on the board of directors and chairs the Audit Committee of Humana, Inc. an insurance provider, and on the board of directors of Zoetis, Inc. an animal health company. Transfer Agent: Such statements involve risks, uncertainties, and assumptions. Be prepared to do it right then as part of the interview. The acquisition of Athonet strengthens Arubas connected edge portfolio, providing the unique and highly sought-after ability to deliver fully integrated Wi-Fi and private 5G networks. If you're familiar with traditional private equity, real estate private equity is the same, but with buildings. AAS orders are an overlay across all business segments contributing to HPE's consumption-based services (both recurring and non-recurring revenues), and includes hardware, as well as HPE GreenLake as-a-Service, Aruba SaaS, CMS SaaS, and other Software assets. Difficult. Other duties as assigned. Hewlett Packard Enterprise assumes no obligation and does not intend to update these forward-looking statements. Mr. Ammann joined General Motors in April 2010 as Vice President of Finance and Treasurer, a role he served in until April 2011. We place considerable emphasis on supplying the capital market, shareholders and other stakeholders with relevant information, to enable everyone to make a fair assessment and valuation of the company. This guide will help you prepare for and ace the most common private equity interview questions. Process. Fiscal 2022 non-GAAP diluted net EPS excludes after-tax adjustments of $1.36 per diluted share, primarily for goodwill impairment, transformation costs, stock-based compensation expense, and the amortization of intangible assets. Margin expansion was driven by product mix shift and strategic pricing actions, more than offsetting input cost increases, Storage revenue was $1.3 billion, up 4% from the prior-year period in actual dollars and 6% when adjusted for currency, with 15.9% operating profit margin, compared to 13.8% from the prior-year period, and up 120 basis points sequentially, with richer mix of owned-IP revenue, Financial Services revenue was $857 million, flat from the prior-year period in actual dollars and up 6% when adjusted for currency, with 11.1% operating profit margin, compared to 14.1% from the prior-year period. See a list of the largest PE firms to start doing some research. Mr. Lane is also a director of several private companies and is a former director of Quest Software, Inc., a software company. 1701 E Mossy Oaks Road To verify your address you can call Equiniti Trust Company directly at 286-5977 (for U.S. callers) and 651-450-4064 (for non-U.S. callers). 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