HP Inc. (NYSE: HPQ) reported Q2 EPS of $0.93, $0.04 better than the analyst estimate of $0.89. Revenue for the quarter came in at $15.9 billion versus the consensus estimate of $15 billion.

• Second quarter GAAP diluted net earnings per share ("EPS") of $0.98, above the previously provided outlook of $0.82 to $0.88 per share
• Second quarter non-GAAP diluted net EPS of $0.93, above the previously provided outlook of $0.84 to $0.90 per share
• Second quarter net revenue of $15.9 billion, up 27.3% from the prior-year period
• Second quarter net cash provided by operating activities of $1.4 billion, free cash flow of $1.3 billion
• Second quarter returned $1.8 billion to shareholders in the form of share repurchases and dividends

“We delivered another strong quarter, with double-digit top and bottom line growth. HP technology is increasingly at the heart of hybrid work and we are benefitting from exceptional demand for our products and services,” said Enrique Lores, HP President and CEO. “Our performance and our positive outlook for the full year reflect the relevance of our innovation, the resilience of our business model, and the operational excellence of our teams.”

GUIDANCE:

HP Inc. sees Q3 2021 EPS of $0.81-$0.85, versus the consensus of $0.75.

HP Inc. sees FY2021 EPS of $3.40-$3.50, versus the consensus of $3.30.

For the fiscal 2021 third quarter, HP estimates GAAP diluted net EPS to be in the range of $0.77 to $0.81 and non-GAAP diluted net EPS to be in the range of $0.81 to $0.85. Fiscal 2021 third quarter non-GAAP diluted net EPS estimates exclude $0.04 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 estimates GAAP diluted net EPS to be in the range of $3.24 to $3.34 and non-GAAP diluted net EPS to be in the range of $3.40 to $3.50. Fiscal 2021 non-GAAP diluted net EPS estimates exclude $0.16 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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