HP Inc

Latest Results (07.08.2024):

Net Revenue and EPS Results

HP Inc. announced fiscal 2024 second quarter net revenue of $12.8 billion, a slight decrease of 0.8% from the prior-year period. The GAAP diluted net EPS for the quarter was $0.61, down from $1.06 in the previous year, while the non-GAAP diluted net EPS was $0.82, up from $0.79. These results were within the previously provided outlook ranges.

Cash Flow and Asset Management

HP Inc. reported net cash provided by operating activities of $581 million for the second quarter of fiscal 2024. The company generated $481 million in free cash flow during the quarter. HP also returned $0.4 billion to shareholders through dividends and share repurchases, maintaining a strong cash position with $2.5 billion in gross cash at the end of the quarter.

Segment Performance

In the fiscal 2024 second quarter, HP Inc.'s Personal Systems segment reported net revenue of $8.4 billion, a 3% increase year over year, with a 6.0% operating margin. The Printing segment, however, saw a decline in net revenue to $4.4 billion, down 8% year over year, but maintained a strong operating margin of 19.0%.

Dividend and Share Repurchases

HP Inc. paid a dividend of $0.2756 per share in the second quarter of fiscal 2024, resulting in a cash outflow of $0.3 billion. Additionally, the company repurchased approximately 3.5 million shares of common stock in the open market, utilizing $0.1 billion of cash for these repurchases.

Outlook for Fiscal 2024

For the fiscal 2024 third quarter, HP Inc. estimates GAAP diluted net EPS to be in the range of $0.63 to $0.77 and non-GAAP diluted net EPS to be between $0.78 and $0.92. For the full fiscal year 2024, the company projects GAAP diluted net EPS to range from $2.60 to $2.90 and non-GAAP diluted net EPS to be between $3.30 and $3.60. HP also anticipates generating free cash flow in the range of $3.1 to $3.6 billion for the year.