HP Inc. (HPQ) Tops Q1 EPS by 1c, Revenue Light, Offers Guidance

HP Inc. (NYSE: HPQ) reported Q1 EPS of $0.75, $0.01 better than the analyst estimate of $0.74. Revenue for the quarter came in at $13.8 billion versus the consensus estimate of $14.15 billion.

GUIDANCE:

HP Inc. sees Q2 2023 EPS of $0.73-$0.83, versus the consensus of $0.76.

• For the fiscal 2023 second quarter, HP estimates GAAP diluted net EPS to be in the range of $0.40 to $0.50 and non-GAAP diluted net EPS to be in the range of $0.73 to $0.83. Fiscal 2023 second quarter non-GAAP diluted net EPS estimates exclude $0.33 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related (credits)/charges, tax adjustments and the related tax impact on these items.

HP Inc. sees FY2023 EPS of $3.20-$3.60, versus the consensus of $3.29.

• For fiscal 2023, HP reaffirms GAAP diluted net EPS to be in the range of $2.22 to $2.62 and non-GAAP diluted net EPS to be in the range of $3.20 to $3.60. Fiscal 2023 non-GAAP diluted net EPS estimates exclude $0.98 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, debt extinguishment costs, non-operating retirement-related (credits)/charges, tax adjustments and the related tax impact on these items. For fiscal 2023, HP anticipates generating free cash flow in the range of $3.0 to $3.5 billion.

For earnings history and earnings-related data on HP Inc. (HPQ) click here.

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