HP Inc. (NYSE: HPQ) reported Q1 EPS of $0.92, $0.26 better than the analyst estimate of $0.66. Revenue for the quarter came in at $15.6 billion versus the consensus estimate of $14.96 billion.

GUIDANCE:

HP Inc. sees Q2 2021 EPS of $0.84-$0.90, versus the consensus of $0.61.

• For the fiscal 2021 second quarter, HP estimates GAAP diluted net EPS to be in the range of $0.82 to $0.88 and non-GAAP diluted net EPS to be in the range of $0.84 to $0.90. Fiscal 2021 second quarter non-GAAP diluted net EPS estimates exclude $0.02 per diluted share, primarily related to restructuring and other charges, acquisition-related charges, amortization of intangible assets, non-operating retirement-related (credits)/charges, tax adjustments and the related tax impact on these items.

HP Inc. sees FY2021 EPS of $3.15-$3.25, versus the consensus of $2.99.

• For fiscal 2021, HP estimates GAAP diluted net EPS to be in the range of $2.98 to $3.08 and non-GAAP diluted net EPS to be in the range of $3.15 to $3.25. Fiscal 2021 non-GAAP diluted net EPS estimates exclude $0.17 per diluted share, primarily related to restructuring and other charges, acquisition-related charges, amortization of intangible assets, non-operating retirement-related (credits)/charges, tax adjustments and the related tax impact on these items. For fiscal 2021, HP anticipates generating free cash flow of at least $4.0 billion.

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