HP Inc. (HPQ) Tops Q3 EPS by 6c, Offers Guidance

HP Inc. (NYSE: HPQ) reported Q3 EPS of $0.49, $0.06 better than the analyst estimate of $0.43. Revenue for the quarter came in at $14.3 billion versus the consensus estimate of $13.31 billion.

GUIDANCE:

HP Inc. sees Q4 2020 EPS of $0.50-$0.54, versus the consensus of $0.50.

• For the fiscal 2020 fourth quarter, HP estimates GAAP diluted net EPS to be in the range of $0.32 to $0.36 and non-GAAP diluted net EPS to be in the range of $0.50 to $0.54. Fiscal 2020 Fourth quarter non-GAAP diluted net EPS estimates exclude $0.18 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, HP estimates GAAP diluted net EPS to be in the range of $1.83 to $1.87 and non-GAAP diluted net EPS to be in the range of $2.16 to $2.20. Fiscal 2020 non-GAAP diluted net EPS estimates exclude $0.33 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, debt extinguishment costs, tax adjustments and the related tax impact on these items. HP also estimates fiscal 2020 free cash flow to be in the range of $2.5 to $3.0 billion.

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