HP Inc. reports EPS in-line, misses on revs; guides Q4 EPS in-line (31.37 +0.03)
- Reports Q3 (Jul) earnings of $0.86 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.86; revenues fell 9.9% year/year to $13.20 bln vs the $13.38 bln FactSet Consensus.
- Personal Systems segment revenue was $8.9 billion, down 11% year over year (down 8% in constant currency) with a 6.6% operating margin. Consumer PS net revenue was down 12% and Commercial PS net revenue was down 11%. Total units were up 3% with Consumer PS units up 8% and Commercial PS units flat.
- Printing segment revenue was $4.3 billion, down 7% year over year (down 5% in constant currency) with an 18.6% operating margin. Consumer Printing net revenue was down 28% and Commercial Printing net revenue was down 6%. Supplies net revenue was down 2% (flat in constant currency). Total hardware units were down 19% overall, with Consumer Printing units down 20% and Commercial Printing units down 8%.
- Co issues in-line guidance for Q4 (Oct), sees EPS of $0.85-0.97, excluding non-recurring items, vs. $0.95 FactSet Consensus.