HP Inc. (HPQ) Tops Q2 EPS by 6c, Q3 EPS Guidance Misses Consensus

HP Inc. (NYSE: HPQ) reported Q2 EPS of $0.51, $0.06 better than the analyst estimate of $0.45. Revenue for the quarter came in at $12.5 billion versus the consensus estimate of $12.85 billion.

GUIDANCE:

HP Inc. sees Q3 2020 EPS of $0.39-$0.45, versus the consensus of $0.49.

• OutlookFor the fiscal 2020 third quarter, HP estimates GAAP diluted net EPS to be in the range of $0.35 to $0.41 and non-GAAP diluted net EPS to be in the range of $0.39 to $0.45. Fiscal 2020 third quarter non-GAAP diluted net EPS estimates exclude $0.04 per diluted share, primarily related to restructuring and other charges, acquisition-related charges, defined benefit plan settlement charges, amortization of intangible assets, non-operating retirement-related (credits)/charges, tax adjustments and the related tax impact on these items.
• For fiscal 2020, given the level of uncertainty around the duration of the pandemic, the timing and pace of economic recovery and the potential impact of a resurgence in cases, HP anticipates a much wider range of outcomes for the year. As a result, HP will not be providing an outlook for the fiscal year 2020.

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

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