HP (HPQ) Company Report

HP delivered 7% revenue growth (5% in constant currency), led by 11% growth in Personal Systems; Print revenue declined 2%.
Non-GAAP EPS was $0.81 (+9% YoY) and non-GAAP operating margin reached 6.9%.
Memory costs doubled sequentially, driving PS margins below the long-term range for the remainder of FY26 and prompting targeted mitigation in supply, pricing, and cost actions.
Maintained FY26 non-GAAP EPS guidance of $2.90–$3.20 (expecting results nearer the low end), Q2 EPS of $0.70–$0.76, and free cash flow guidance of $2.8–$3.0 billion.

3 days ago

Transcript

HP Inc reports Q1 2026 results

HPQ

Earnings

CEO Change

Guidance Update

HP delivered $14.4 billion in revenue, up 7% year-over-year, and non-GAAP EPS of $0.81, a 9% increase and top-end of guidance.
AI-enabled PCs now represent over 35% of total PC shipments, up from 30% in Q4 2025, driving premium unit and ASP gains.
Rising DRAM and NAND costs are expected to persist through FY 26 and into FY 27; HP has secured long-term memory supply agreements, accelerated new supplier qualification, and implemented pricing actions to mitigate these headwinds.
Bruce Broussard serves as interim CEO while the board conducts a broad search for a permanent leader; an April Investor Day has been postponed due to the CEO transition.
For Q2, HP expects revenue growth above normal seasonality and for full-year EPS to skew first-half weighted, landing at the lower end of guidance amid memory cost pressures.

3 days ago

Transcript

HP Inc. reports Q1 2026 results

HPQ

Earnings

Guidance Update

Share Buyback

HP delivered $14.4 billion revenue in Q1 2026, up 7% year-over-year, driven by Personal Systems (PC refresh and AI PCs) and growth in consumer subscriptions and industrial print, with non-GAAP EPS of $0.81, a 9% increase at the top of guidance.
Personal Systems revenue rose 11% (12% unit growth) on Windows 11 refresh and AI PC adoption, with share gains in premium segments; Print revenue declined 2% (consumer down 8%, supplies down 2%), while industrial print grew and Print operating margin was 18.3%.
Gross margin of 19.6% reflected a higher mix of Personal Systems and elevated DRAM/NAND costs, partially offset by long-term supply agreements, new suppliers, cost reductions, and pricing actions; PS operating margin is now expected below the long-term range for the remainder of FY 2026.
Maintaining FY 2026 non-GAAP EPS guidance of $2.90–$3.20 (Q2: $0.70–$0.76) and free cash flow guidance of $2.8–$3.0 billion, with expectations to be near the lower end given ongoing memory cost pressures.
Generated $400 million cash from operations and $200 million free cash flow in Q1, returned over $600 million to shareholders via dividends and share repurchases, and remain committed to returning ~100% of free cash flow as leverage normalizes.

3 days ago

Transcript

HP Inc. reports fiscal Q1 2026 results

HPQ

Earnings

Guidance Update

Share Buyback

HP Inc. reported $14.4 B in net revenue (+6.9 % Y/Y), with GAAP diluted EPS of $0.58 (−1.7 % Y/Y) and non-GAAP diluted EPS of $0.81 (+9.5 % Y/Y).
Operating cash flow was $383 M and free cash flow was $175 M, and HP returned $0.6 B to shareholders through repurchases and dividends in Q1 FY26.
Personal Systems net revenue reached $10.3 B (+11 %) with a 5.0 % operating margin; Printing net revenue was $4.2 B (−2 %) with an 18.3 % margin.
Q2 FY26 guidance calls for GAAP EPS of $0.52–$0.58 and non-GAAP EPS of $0.70–$0.76, while maintaining FY26 views at GAAP EPS $2.47–$2.77, non-GAAP EPS $2.90–$3.20, and free cash flow of $2.8–$3.0 B.

3 days ago

8-K

HP announces fiscal 2026 Q1 results

HPQ

Earnings

Guidance Update

Share Buyback

Net revenue of $14.4 billion, up 6.9% y/y; GAAP diluted EPS of $0.58 (down 1.7%) and non-GAAP EPS of $0.81 (up 9.5%)
Operating cash flow of $383 million, free cash flow of $175 million, and returned $0.6 billion to shareholders through repurchases and dividends
Personal Systems revenue of $10.3 billion (+11%, 5.0% margin); Printing revenue of $4.2 billion (−2%, 18.3% margin)
Q2 FY26 guidance: GAAP EPS of $0.52–$0.58; non-GAAP EPS of $0.70–$0.76. FY26 outlook maintained at GAAP EPS $2.47–$2.77, non-GAAP EPS $2.90–$3.20, and free cash flow $2.8–$3.0 billion

3 days ago

Press Release

HPQ Silicon announces fully subscribed private placement

HPQ

New Projects/Investments

HPQ Silicon’s non-brokered private placement of 18,181,819 units at $0.165 CAD per unit for gross proceeds of ~$3 million CAD is fully subscribed.
Each unit comprises one common share and one warrant exercisable at $0.25 CAD for 24 months from closing.
Closing is expected on or around February 27, 2026, subject to customary approvals including TSXV acceptance.
Net proceeds will fund general working capital, accelerate the Silicon-Based Battery Material pilot plant, and advance hydrogen-based projects.

4 days ago

Press Release

HPQ Silicon announces non-brokered private placement of up to C$3 million

HPQ

HPQ Silicon will issue up to 18,181,819 units at C$0.165 per unit for gross proceeds of up to C$3 million; each unit comprises one common share and one warrant.
Warrants are exercisable at C$0.25 per share for 24 months, and HPQ may pay up to 6% of proceeds in finder’s fees or warrants.
Net proceeds will support general working capital, accelerate the silicon-based anode pilot plant project, and advance clean-hydrogen initiatives.
The non-brokered offering is exempt under OSC 72-503, is not a related-party transaction, and awaits final TSXV approval.

4 days ago

Press Release

PyroGenesis confirms third-party verification of fumed silica

HPQ

New Projects/Investments

Independent US lab validated that fumed silica from PyroGenesis’s reactor meets the key specification for the proposed joint venture.
JV partner has acquired 50 kg of fumed silica for further testing; testing to conclude in 6 weeks and technical due diligence in 4 weeks.
PyroGenesis is finalizing its 50% acquisition option in HSPI to co-develop a 1,000 TPY fumed silica plant and will receive US$20 million to build the reactor; definitive JV agreements expected by end of Q2 2026.

Feb 19, 2026, 12:00 PM

Press Release

HPQ Silicon receives first purchase order for fumed silica

HPQ

New Projects/Investments

HPQ Silicon’s subsidiary HSPI secured a first purchase order for 50 kg of fumed silica from its strategic industrial partner for advanced qualification testing.
The material was produced at the Fumed Silica Reactor pilot plant by PyroGenesis and is being prepared for customer delivery.
Extended semi-continuous operations of the FSR generated critical process and engineering data to support scale-up modeling and design of the proposed 1,000 tpa commercial facility under the MOU.
Independent analysis by a U.S. specialty laboratory confirmed the fumed silica meets the fundamental chemical and material specifications required to advance the project.

Feb 19, 2026, 12:00 PM

Press Release

HP Inc appoints interim CEO and reaffirms 2026 outlook

HPQ

CEO Change

Guidance Update

Management Change

HP Inc. appoints Bruce Broussard, a board member since 2021, as Interim CEO effective immediately, succeeding Enrique Lores who steps down after 36 years.
Board forms a CEO Search Committee and retains a leading global executive search firm to find a permanent CEO.
Reaffirms GAAP EPS guidance at $0.58–0.66 for Q1 2026 and $2.47–2.77 for FY 2026; non-GAAP EPS at $0.73–0.81 Q1 and $2.90–3.20 FY; expects free cash flow of $2.8–$3.0 billion for FY 2026.