HP Inc. Reports Fiscal 2023 Third Quarter Results

PALO ALTO, Calif., Aug. 29, 2023 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • Third quarter GAAP diluted net earnings per share ("EPS") of $0.76, above the previously provided outlook of $0.61 to $0.71 per share
  • Third quarter non-GAAP diluted net EPS of $0.86, within the previously provided outlook of $0.81 to $0.91 per share
  • Third quarter net revenue of $13.2 billion, down 9.9% from the prior-year period
  • Third quarter net cash provided by operating activities of $1.0 billion, free cash flow of $0.9 billion
  • Third quarter returned $0.3 billion to shareholders in the form of dividends
  • Retired long-term debt of $1.1 billion
HP Inc.'s fiscal 2023 third quarter financial performance
 Q3 FY23 Q3 FY22 Y/Y
GAAP net revenue ($B)$13.2 $14.6 (9.9)% 
GAAP operating margin 7.2%  8.6% (1.4) pts 
GAAP net earnings ($B)$0.8 $1.1 (32)% 
GAAP diluted net EPS$0.76 $1.08 (30)% 
Non-GAAP operating margin 8.8%  9.4% (0.6) pts 
Non-GAAP net earnings ($B)$0.9 $1.1 (19)% 
Non-GAAP diluted net EPS$0.86 $1.03 (17)% 
Net cash provided by operating activities ($B)$1.0 $0.4 148%  
Free cash flow ($B) $ 0.9   $ 0.3   214%  
                 

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