PALO ALTO, Calif., Nov. 29, 2018 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)
- Fiscal 2018 GAAP diluted net earnings per share (“EPS”) of $3.26, above the previously provided outlook of $2.82 to $2.85 per share
- Fiscal 2018 non-GAAP diluted net EPS of $2.02, within the previously provided outlook of $2.00 to $2.03 per share
- Fiscal 2018 net revenue of $58.5 billion, up 12% from the prior-year period
- Fiscal 2018 net cash provided by operating activities of $4.5 billion, free cash flow of $4.2 billion
- Fiscal 2018 returned $3.5 billion to shareholders in the form of share repurchases and dividends
- Fourth quarter GAAP diluted net EPS of $0.91, above the previously provided outlook of $0.48 to $0.51 per share
- Fourth quarter non-GAAP diluted net EPS of $0.54, within the previously provided outlook of $0.52 to $0.55 per share
- Fourth quarter net revenue of $15.4 billion, up 10% from the prior-year period
- Fourth quarter net cash provided by operating activities of $1.0 billion, free cash flow of $0.8 billion
- Fourth quarter returned $0.8 billion to shareholders in the form of share repurchases and dividends
| HP Inc.'s fiscal 2018 full-year and fourth quarter financial performance | |||||||||||||||
| FY18 | FY17 | Y/Y | Q4 FY18 | Q4 FY17 | Y/Y | ||||||||||
| GAAP net revenue ($B) | $ | 58.5 | $ | 52.1 | 12% | $ | 15.4 | $ | 13.9 | 10% | |||||
| GAAP operating margin | 7.0% | 6.8% | 0.2 pts | 6.8% | 6.4% | 0.4 pts | |||||||||
| GAAP net earnings ($B) | $ | 5.3 | $ | 2.5 | 111% | $ | 1.5 | $ | 0.7 | 120% | |||||
| GAAP diluted net EPS | $ | 3.26 | $ | 1.48 | 120% | $ | 0.91 | $ | 0.39 | 133% | |||||
| Non-GAAP operating margin | 7.2% | 7.4% | (0.2) pts | 7.1% | 7.3% | (0.2) pts | |||||||||
| Non-GAAP net earnings ($B) | $ | 3.3 | $ | 2.8 | 17% | $ | 0.9 | $ | 0.7 | 15% | |||||
| Non-GAAP diluted net EPS | $ | 2.02 | $ | 1.65 | 22% | $ | 0.54 | $ | 0.44 | 23% | |||||
| Net cash provided by operating activities ($B) | $ | 4.5 | $ | 3.7 | 23% | $ | 1.0 | $ | 0.7 | 42% | |||||
| Free cash flow ($B) | $ | 4.2 | $ | 3.3 | 24% | $ | 0.8 | $ | 0.5 | 64% | |||||
Notes to table
Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.
Net revenue and EPS results
HP Inc. (“HP”) announced fiscal 2018 net revenue of $58.5 billion, up 12% (up 10% in constant currency) from the prior-year period.
Fiscal 2018 GAAP diluted net EPS was $3.26, up from $1.48 in the prior-year period and above the previously provided outlook of $2.82 to $2.85. Fiscal 2018 non-GAAP diluted net EPS was $2.02, up from $1.65 in the prior-year period and within the previously provided outlook of $2.00 to $2.03. Fiscal 2018 non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $2.0 billion, or $1.24 per diluted share, 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, and tax adjustments.
Fourth quarter net revenue was $15.4 billion, up 10% (up 9% in constant currency) from the prior-year period.
Fourth quarter GAAP diluted net EPS was $0.91, up from $0.39 in the prior-year period and above the previously provided outlook of $0.48 to $0.51. Fourth quarter non-GAAP diluted net EPS was $0.54, up from $0.44 in the prior-year period and within the previously provided outlook of $0.52 to $0.55. Fourth quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $586 million, or $0.37 per diluted share, related to restructuring and other charges, acquisition-related charges, defined benefit plan settlement charges, amortization of intangible assets, non-operating retirement-related credits/(charges), and tax adjustments.
