HP Inc. Reports Fiscal 2024 Full Year and Fourth Quarter Results

PALO ALTO, Calif., Nov. 26, 2024 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • Fiscal 2024 GAAP diluted net earnings per share ("EPS") of $2.81, above the previously provided outlook of $2.62 to $2.72 per share
  • Fiscal 2024 non-GAAP diluted net EPS of $3.38, within the previously provided outlook of $3.35 to $3.45 per share
  • Fiscal 2024 net revenue of $53.6 billion, down 0.3% from the prior-year period
  • Fiscal 2024 net cash provided by operating activities of $3.7 billion, free cash flow of $3.3 billion
  • Fiscal 2024 returned $3.2 billion to shareholders in the form of share repurchases and dividends
  • Fourth quarter GAAP diluted net EPS of $0.93, above the previously provided outlook of $0.74 to $0.84 per share
  • Fourth quarter non-GAAP diluted net EPS of $0.93, within the previously provided outlook of $0.89 to $0.99 per share
  • Fourth quarter net revenue of $14.1 billion, up 1.7% from the prior-year period
  • Fourth quarter net cash provided by operating activities of $1.6 billion, free cash flow of $1.5 billion
  • Fourth quarter returned $1.2 billion to shareholders in the form of share repurchases and dividends
  • HP Inc. announces dividend increase of 5%
HP Inc.'s fiscal 2024 full-year and fourth quarter financial performance
 FY24 FY23 Y/Y Q4 FY24 Q4 FY23 Y/Y
GAAP net revenue ($B)$53.6  $53.7  (0.3)% $14.1  $13.8  1.7%
GAAP operating margin 7.1%  6.4% 0.7 pts  7.1%  7.3% (0.2) pts
GAAP net earnings ($B)$2.8  $3.3  (15)% $0.9  $1.0  (7)%
GAAP diluted net EPS$2.81    $ 3.26     (14)%   $ 0.93     $ 0.97     (4)%
Non-GAAP operating margin   8.4 %     8.5 %   (0.1) pts     8.5 %     9.0 %   (0.5) pts
Non-GAAP net earnings ($B) $ 3.3     $ 3.3     2%   $ 0.9     $ 0.9     —%
Non-GAAP diluted net EPS $ 3.38     $ 3.28     3%   $ 0.93     $ 0.90     3%
Net cash provided by operating activities ($B) $ 3.7     $ 3.6     5%   $ 1.6     $ 2.0     (18)%
Free cash flow ($B) $ 3.3     $ 3.1     8%   $ 1.5     $ 1.9     (19)%

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