The earnings call highlighted HP's revenue growth and leadership in AI PCs, along with successful cost-saving initiatives and strong free cash flow, indicating a positive outlook. However, challenges remain with commodity costs and market declines in print, particularly in China.

Company Guidance

During the HPQ Q4 2024 earnings call, the company provided guidance for fiscal year 2025, indicating expectations for the PC market to grow mid-single digits, particularly driven by commercial segments, while the print market is anticipated to decline in low single digits. HP expects to outperform or match these market trends, with Personal Systems revenue projected to expand at least in line with the market, and Print revenue to perform similarly. The company anticipates AI PC penetration to increase to approximately 25% of shipments, enhancing ASPs and contributing positively to financial results. HP forecasts non-GAAP diluted EPS to range between $3.45 and $3.75 and free cash flow to be between $3.2 billion and $3.6 billion, with stronger performance in the second half of the fiscal year. HP also reiterated its commitment to returning nearly 100% of free cash flow to shareholders, provided the gross leverage ratio remains below 2x EBITDA.

Revenue Growth

For the second consecutive quarter, revenue was up 2% year-over-year. Both Personal Systems and Print demonstrated steady progress.

Non-GAAP EPS Growth

Non-GAAP EPS grew 3% to $0.93, in line with the outlook.

AI PC Leadership

HP has the #1 market share of AI PC in the Windows ecosystem, with AI PC units making up more than 15% of shipments this quarter.

Print Revenue Increase

Print revenue grew 1% year-over-year, driven by strong performance in supplies and industrial graphics.

Successful Cost Savings

HP's future-ready structural cost-saving plans have achieved roughly 80% of the total program goal of $1.6 billion of annualized gross run rate savings.

Dividend Increase

HP announced a 5% increase in its annual dividend to $1.16 per share.

Strong Free Cash Flow

HP generated strong free cash flow of $3.3 billion for the fiscal year, in line with the annual guidance.

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HP (HPQ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

HPQ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 26, 2025	2025 (Q1)	0.74 / -	0.81	―	―	―
Nov 26, 2024	2024 (Q4)	0.93 / 0.93	0.9	3.33% (+0.03)
Aug 28, 2024	2024 (Q3)	0.85 / 0.83	0.86	-3.49% (-0.03)
May 29, 2024	2024 (Q2)	0.81 / 0.82	0.8	2.50% (+0.02)
Feb 28, 2024	2024 (Q1)	0.81 / 0.81	0.75	8.00% (+0.06)
Nov 21, 2023	2023 (Q4)	0.90 / 0.90	0.85	5.88% (+0.05)
Aug 29, 2023	2023 (Q3)	0.85 / 0.86	1.04	-17.31% (-0.18)
May 30, 2023	2023 (Q2)	0.76 / 0.80	1.08	-25.93% (-0.28)
Feb 28, 2023	2023 (Q1)	0.74 / 0.75	1.1	-31.82% (-0.35)
Nov 22, 2022	2022 (Q4)	0.84 / 0.85	0.94	-9.57% (-0.09)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HPQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 26, 2024	$38.78	$34.37	-11.37%
Aug 28, 2024	$34.19	$34.88	+2.02%
May 29, 2024	$32.02	$37.44	+16.93%
Feb 28, 2024	$27.78	$27.40	-1.37%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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