Dylan Lima's questions to HP Inc (HPQ) leadership • Q1 2025
Question
Dylan Lima from Morgan Stanley asked when the commodity cycle might become a tailwind for margins and how HP would manage pricing in that scenario. He also asked for clarification on the Personal Systems growth outlook.
Answer
CEO Enrique Lores stated that commodities are expected to remain a headwind for the full year, with improvements beginning in Q2, and any pricing decisions would depend on the competitive environment. CFO Karen Parkhill clarified the PS outlook, stating HP expects to grow faster than the market, driven by share gains in commercial, while Lores noted the total market growth forecast remains unchanged at mid-single-digits.