Loading...
•
Jan 31, 2023
HP Q1 2023 Earnings Report
HP reported Q1 2023 earnings, with revenue and EPS within expectations despite industry headwinds.
Key Takeaways
HP Inc. reported fiscal 2023 first-quarter results, with net revenue of $13.8 billion, down 18.8% year-over-year. GAAP diluted net EPS was $0.49, and non-GAAP diluted net EPS was $0.75. The company returned $0.4 billion to shareholders through share repurchases and dividends.
GAAP diluted net EPS of $0.49, within the previously provided outlook of $0.47 to $0.57 per share.
Non-GAAP diluted net EPS of $0.75, within the previously provided outlook of $0.70 to $0.80 per share.
Net revenue of $13.8 billion, down 18.8% from the prior-year period.
Returned $0.4 billion to shareholders in the form of share repurchases and dividends.
HP
HP
HP Revenue by Segment
Revenue by Segment
Personal Systems Revenue
CapyFin.comCommercial PS Revenue
CapyFin.comConsumer PS Revenue
CapyFin.comPrinting Revenue
CapyFin.comSupplies Revenue
CapyFin.comCommercial Printing Revenue
CapyFin.comConsumer Printing Revenue
CapyFin.com Forward Guidance
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. 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. For fiscal 2023, HP anticipates generating free cash flow in the range of $3.0 to $3.5 billion.
Positive Outlook
- GAAP diluted net EPS to be in the range of $0.40 to $0.50 for Q2 2023
- Non-GAAP diluted net EPS to be in the range of $0.73 to $0.83 for Q2 2023
- GAAP diluted net EPS to be in the range of $2.22 to $2.62 for fiscal year 2023
- Non-GAAP diluted net EPS to be in the range of $3.20 to $3.60 for fiscal year 2023
- Anticipates generating free cash flow in the range of $3.0 to $3.5 billion for fiscal year 2023
Challenges Ahead
- Q2 2023 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.
- 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.
- Personal Systems net revenue was down 24% year over year.
- Consumer PS net revenue decreased 36%.
- Commercial PS net revenue decreased 18%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income