HP (HPQ) Company Report

HPQ Silicon has obtained UN 38.3 certification for its HPQ ENDURA+ 18650 (4,000 mAh) and 21700 (6,000 mAh) lithium-ion cells, enabling compliant global shipping and marking its move into industrial-scale supply.
The ENDURA+ cells successfully passed all eight mandatory UN 38.3 tests—altitude simulation, thermal cycling, vibration, shock, external short circuit, crush/impact, overcharge, and forced internal short—validating their safety under rigorous conditions.
This certification supports HPQ’s industrial strategy to scale production to up to 1.5 million cells per year with partner Novacium SAS; the company is now pursuing UL 1642 certification for U.S. market entry.
The cells feature >300 Wh/kg energy density and achieve ~1,000 charge–discharge cycles, positioning HPQ for growth in advanced energy storage markets.

Dec 16, 2025, 12:00 PM

Press Release

HPQ Silicon closes $1.00 M non-brokered private placement

HPQ

New Projects/Investments

HPQ Silicon closed a non-brokered private placement of 6,170,442 common shares at $0.1625 per share, raising $1,002,696.83 in gross proceeds.
The placement includes 333,303 warrants issued to CI Investment Services Inc., each exercisable at $0.18 per share for 48 months.
Insider Bernard Tourillon subscribed for 615,384 shares ($99,999.90) and now beneficially owns 22,796,794 shares (approximately 5.29% of outstanding).
Net proceeds will advance commercialization of the Fumed Silica Reactor, HPQ ENDURA+ cells, and the METAGENE hydrogen production platform.

Dec 15, 2025, 9:00 PM

Press Release

HP: US PC Shipments Decline in Q3 2025

HPQ

Demand Weakening

Omdia reports US PC shipments for Q3 2025 totaled 17.7 million units, down 1% YoY, marking the second consecutive quarter of decline.
Consumer segment shipments grew 8% YoY to 7.6 million units, while the education and government segment fell 23%; commercial shipments were broadly flat, down less than 1%.
HP led the market with 4.326 million units shipped and a 24.4% market share, down 0.2% YoY, while Apple achieved double-digit growth with 3.175 million units (17.9% share, +12.4% YoY).
Omdia forecasts US PC market shipments to grow 4% in 2025, driven by consumer demand despite ongoing economic headwinds.

Dec 10, 2025, 1:05 AM

Press Release

HP Inc. highlights FY25 performance and FY26 outlook

HPQ

Guidance Update

Dividends

Share Buyback

FY25 revenue grew 4% company-wide and 8% in personal systems, with $2.9 billion free cash flow and $1.9 billion returned to shareholders, plus a 10th consecutive dividend increase
Closed the three-year Future Ready cost program, delivering $2.2 billion in annualized run-rate savings, exceeding the original $1.4 billion commitment
FY26 guidance includes a $0.30 EPS memory cost headwind in H2 (≈90 bp personal systems margin impact) and projects $2.8–3.0 billion in free cash flow
AI-capable PCs represent ~30% of shipments, expected to reach 40–50% in FY26 and >70% by FY28, supporting richer configurations and pricing
Print segment achieved its 9th consecutive quarter of industrial print growth to $1.8 billion, and surpassed 1 million subscribers on all-in subscriptions, despite softness in office and consumer markets

Dec 3, 2025, 3:55 PM

Transcript

HP discusses FY25 performance and FY26 guidance at UBS conference

HPQ

Guidance Update

Dividends

Share Buyback

Delivered 4% full‐year growth and 8% Personal Systems growth in FY25 Q4; generated $2.9 B free cash flow, returned $1.9 B to shareholders, announced 10th consecutive annual dividend increase, and realized $2.2 B in gross savings under Future Ready (vs. $1.4 B target).
Provided FY26 outlook including a $0.30 EPS headwind from higher DRAM/NAND costs in the back half (≈90 bps impact to PS margins); full‐year PSG margins expected at the low end of the target range, supported by a new $1 B cost‐savings program (≈$300 M in FY26).
Anticipates PC demand driven by a 40% remaining Win 11 refresh and AI‐ready PCs now >30% of shipments; forecasts AI PC penetration of 40–50% in FY26 and >70% by FY28, with higher ASPs on premium configurations.
Sees resilient print performance: industrial print up for the ninth straight quarter to $1.8 B revenue, big tank printers and all-in subscriptions (>1 M subscribers) fueling recurring revenue and share gains amid market decline.
Maintains capital allocation discipline: targeting return of 100% free cash flow to shareholders, gross leverage <2×, prioritizing share buybacks for top ROI while remaining open to strategic M&A.

Dec 3, 2025, 3:55 PM

Transcript

HP Inc. discusses FY 2025 results and outlook at UBS Global Technology and AI Conference

HPQ

Earnings

Guidance Update

Dividends

HP Inc. finished FY 2025 with 4% total company growth and 8% growth in personal systems, driven by office and consumer premium demand; free cash flow was $2.9 billion and $1.9 billion was returned to shareholders, including a 10th consecutive annual dividend increase.
The company closed its three-year Future Ready cost savings program, delivering $2.2 billion in gross annualized run-rate savings, exceeding its initial $1.4 billion target.
For FY 2026, HP expects headwinds from increased memory costs, with a $0.30 EPS impact in the back half of the year and a 90 basis point impact to PS margins, but anticipates offsetting some of this through an additional $1 billion cost savings program over three years.
AI PCs now represent over 30% of HP’s shipments, with penetration expected to reach 40-50% in FY 2026 and over 70% by FY 2028, supporting higher pricing and future growth.
HP guided FY 2026 free cash flow to $2.8-$3.0 billion, with capital allocation priorities remaining focused on returning 100% of free cash flow to shareholders, provided leverage stays below two times.

Dec 3, 2025, 3:55 PM

Transcript

HP Reports Fiscal 2025 Q4 Results, Plans Workforce Reductions

HPQ

Earnings

Layoffs

Guidance Update

HP posted 4% year-over-year revenue growth in fiscal Q4 to $14.6 billion.
Personal Systems revenue rose 8% to $10.4 billion, with 30% of PCs sold now classified as AI PCs.
Printing segment revenue declined 4%, with an 18.9% operating margin and a 12% drop in hardware unit sales.
The company will cut 4,000 to 6,000 jobs by fiscal 2028, incurring a $650 million restructuring charge to save over $1 billion annually.
Fiscal 2026 guidance projects EPS of $2.90–$3.20 and free cash flow of $2.8–$3.0 billion, below analyst expectations.

Nov 25, 2025, 10:39 PM

Bloomberg

HP reports Q4 2025 results

HPQ

Earnings

Guidance Update

Dividends

Personal Systems revenue grew 6% in FY25; Print revenue declined 4%, while AI-enabled PCs represented over 30% of Q4 unit shipments.
Generated $1.6 billion in operating cash and $1.5 billion in free cash flow in Q4 (FY 2025 free cash flow of $2.9 billion); returned $800 million to shareholders in the quarter.
Launched a $1 billion gross run-rate cost savings program by FY 2028, including 4,000–6,000 workforce reductions and $250 million of restructuring charges in FY 2026.
Provided FY 2026 guidance of non-GAAP EPS $2.90–$3.20 (reflecting a $0.30 per-share memory cost headwind); expects low-single-digit revenue growth in Personal Systems and slight decline in Print.
Raised the quarterly dividend to $0.30 per share, marking the 10th consecutive annual increase.

Nov 25, 2025, 10:00 PM

Transcript

HP Inc reports Q4 2025 results and FY2026 outlook

HPQ

Earnings

Guidance Update

Revenue up 4% YoY in Q4, marking sixth consecutive quarter of growth, driven by Personal Systems; non-GAAP EPS $0.93, above midpoint of guidance
Personal Systems revenue +8% YoY, led by 7% unit growth and higher ASPs; AI PCs >30% of shipments and Windows 11 refresh to support momentum
Print revenue –4% YoY; supplies down 3%, while consumer subscriptions approach $1 billion annualized, industrial graphics exceed $1.8 billion, and workforce solutions grow double-digit
FY 2026 guidance: non-GAAP EPS $2.90–$3.20, GAAP EPS $2.47–$2.77, memory cost headwind of ~$0.30, free cash flow of $2.8 billion–$3.0 billion

Nov 25, 2025, 10:00 PM

Transcript

HP Inc reports Q4 2025 results

HPQ

Earnings

Guidance Update

Dividends

HP delivered its sixth consecutive quarter of revenue growth, with Q4 revenue up 4% year-over-year, driven by an 8% increase in personal systems while print revenue declined 4%.
Q4 non-GAAP EPS was $0.93, a 24% sequential increase, with a non-GAAP operating margin of 8%, up nearly one point quarter-over-quarter.
For FY25, HP reported 3% revenue growth, with personal systems up 6% and print down 4%, generated $2.9 billion in free cash flow, and returned $1.9 billion to shareholders.
FY26 guidance includes non-GAAP EPS of $2.90–$3.20, GAAP EPS of $2.47–$2.77, Q1 non-GAAP EPS of $0.73–$0.81, and $2.8–$3.0 billion in free cash flow, reflecting an estimated $0.30 memory cost headwind.
HP raised its quarterly dividend to $0.30 per share, marking the 10th consecutive annual increase since its 2015 separation.