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Jul 31, 2024
HP Q3 2024 Earnings Report
HP's Q3 2024 financial performance showed revenue growth and EPS within the provided outlook.
Key Takeaways
HP Inc. reported a 2.4% increase in net revenue to $13.5 billion for the third quarter of fiscal year 2024. GAAP diluted net EPS was $0.65, and non-GAAP diluted net EPS was $0.83. The company generated $1.3 billion in free cash flow and returned $0.9 billion to shareholders through share repurchases and dividends.
Net revenue increased by 2.4% year over year to $13.5 billion.
GAAP diluted net EPS was $0.65, within the outlook of $0.63 to $0.77.
Non-GAAP diluted net EPS was $0.83, within the outlook of $0.78 to $0.92.
Free cash flow for the quarter was $1.3 billion.
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.comCorporate Investments Revenue
CapyFin.com Forward Guidance
For the fiscal 2024 fourth quarter, HP estimates GAAP diluted net EPS to be in the range of $0.74 to $0.84 and non-GAAP diluted net EPS to be in the range of $0.89 to $0.99. For fiscal 2024, HP estimates GAAP diluted net EPS to be in the range of $2.62 to $2.72 and non-GAAP diluted net EPS to be in the range of $3.35 to $3.45. For fiscal 2024, HP anticipates generating free cash flow in the range of $3.1 to $3.6 billion.
Positive Outlook
- GAAP diluted net EPS to be in the range of $0.74 to $0.84 for Q4 2024
- Non-GAAP diluted net EPS to be in the range of $0.89 to $0.99 for Q4 2024
- GAAP diluted net EPS to be in the range of $2.62 to $2.72 for fiscal year 2024
- Non-GAAP diluted net EPS to be in the range of $3.35 to $3.45 for fiscal year 2024
- Free cash flow in the range of $3.1 to $3.6 billion for fiscal year 2024
Challenges Ahead
- Fiscal 2024 fourth quarter non-GAAP diluted net EPS estimates exclude $0.15 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, debt extinguishment charges and the related tax impact on these items.
- Fiscal 2024 non-GAAP diluted net EPS estimates exclude $0.73 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, debt extinguishment charges and the related tax impact on these items.
- Estimates based on information available at this time
- Estimates could differ materially from reported amounts
- Assumes no obligation to update forward looking statements
Revenue & Expenses
Visualization of income flow from segment revenue to net income