HP Inc. Reports Fiscal 2023 Full Year and Fourth Quarter Results

PALO ALTO, Calif., Nov. 21, 2023 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • Fiscal 2023 GAAP diluted net earnings per share ("EPS") of $3.26, above the previously provided outlook of $2.95 to $3.07 per share
  • Fiscal 2023 non-GAAP diluted net EPS of $3.28, within the previously provided outlook of $3.23 to $3.35 per share
  • Fiscal 2023 net revenue of $53.7 billion, down 14.6% from the prior-year period
  • Fiscal 2023 net cash provided by operating activities of $3.6 billion, free cash flow of $3.1 billion
  • Fiscal 2023 returned $1.1 billion to shareholders in the form of dividends and share repurchases
  • Fiscal 2023 retired $1.6 billion in long term debt
  • Fourth quarter GAAP diluted net EPS was $0.97, above the previously provided outlook of $0.65 to $0.77 per share
  • Fourth quarter non-GAAP diluted net EPS of $0.90, within the previously provided outlook of $0.85 to $0.97 per share
  • Fourth quarter net revenue of $13.8 billion, down 6.5% from the prior-year period
  • Fourth quarter net cash provided by operating activities of $2.0 billion, free cash flow of $1.9 billion
  • Fourth quarter returned $0.3 billion to shareholders in the form of dividends
HP Inc.'s fiscal 2023 full-year and fourth quarter financial performance
 FY23 FY22 Y/Y Q4 FY23 Q4 FY22 Y/Y
GAAP net revenue ($B)$53.7  $62.9  (14.6)% $13.8  $14.8  (6.5)%
GAAP operating margin 6.4%  7.2% (0.8) pts  7.3%  5.0% 2.3 pts
GAAP net earnings ($B)$3.3  $3.1  4% $1.0  $  NM
GAAP diluted net EPS $ 3.26     $ 2.98     9%   $ 0.97     $ (0.02 )   NM
Non-GAAP operating margin   8.5 %     8.5 %   0.0 pts     9.0 %     7.6 %   1.4 pts
Non-GAAP net earnings ($B) $ 3.3     $ 4.2     (22)%   $ 0.9     $ 0.8     8%
Non-GAAP diluted net EPS $ 3.28     $ 3.98     (18)%   $ 0.90     $ 0.82     10%
Net cash provided by operating activities ($B) $ 3.6     $ 4.5     (20)%   $ 2.0     $ 1.9     4%
Free cash flow ($B) $ 3.1     $ 3.9     (20)%   $ 1.9     $ 1.8     3%

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