Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  HP Inc.    HPQ

HP INC.

(HPQ)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

HP Pulls Annual Guidance, 3Q Earnings Guidance Misses Wall Street Estimates Amid Pandemic -- Earnings Review

share with twitter share with LinkedIn share with facebook
05/27/2020 | 04:21pm EDT

By Maria Armental

HP Inc. reported second-quarter results on Wednesday and gave third-quarter guidance but pulled financial projections for the year, citing uncertainty about the business impact of the coronavirus pandemic. Here's what you need to know:

PROFIT: Net income fell to $764 million, or 53 cents a share, from $782 million, or 51 cents a share. The latest results included 6% fewer shares outstanding.

On an adjusted basis, profit fell to 51 cents a share from 53 cents a share a year earlier.

HP had projected 46 cents to 50 cents a share, or 49 cents to 53 cents a share as adjusted, while analysts surveyed by FactSet expected a profit of 43 cents a share, or 44 cents as adjusted.

REVENUE: Net revenue fell to $12.47 billion from $14.04 billion a year earlier, driven by a 19% decline from printing. Analysts expected sales to fall to about $12.93 billion.

OUTLOOK: HP pulled financial projections for the year, citing uncertainty about the business impact of the pandemic, but said that this quarter it expects to make 35 cents to 41 cents a share, or 39 cents to 45 cents a share on an adjusted basis. That compares with analysts' projected 47 cents a share.

PANDEMIC: HP said its supply chain returned to full capacity in early May and that it ended the April quarter with a strong PC backlog.

BUYBACK: HP, which at the time faced a hostile takeover bid from Xerox Holdings Corp., had raised its share buyback program to $15 billion, targeting at least $8 billion in the first year, and increased its target long-term return of capital to 100% of free cash flow, "unless higher return opportunities emerge." HP said it would maintain dividend per share growth at least in line with earnings. On Wednesday, company officials said they remained committed to the principles HP discussed in February. Company officials are expected to give more detail during the earnings call.

CASH & DEBT: HP ended the quarter with about $4.05 billion in cash, compared with $4.21 billion as of Jan. 31, and about $5.5 billion in debt.

 

Write to Maria Armental at maria.armental@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
HP INC. 3.53% 16.99 Delayed Quote.-17.32%
LETS HOLDINGS GROUP CO., LTD. -1.85% 11.64 End-of-day quote.92.72%
LINE CORPORATION -0.54% 5500 End-of-day quote.2.80%
LOOK HOLDINGS INCORPORATED -2.42% 685 End-of-day quote.-45.29%
THE NEW HOME COMPANY INC. 2.16% 3.31 Delayed Quote.-28.97%
XEROX HOLDINGS CORPORATION 5.88% 15.49 Delayed Quote.-57.99%
share with twitter share with LinkedIn share with facebook
Latest news on HP INC.
07/07Levi Strauss warns of weak second half on pandemic woes, to cut 700 jobs
RE
07/02More companies join Facebook ad boycott bandwagon
RE
07/01More companies join Facebook ad boycott bandwagon
RE
06/29More companies join Facebook ad boycott bandwagon
RE
06/29HP : Statement on Social Media Advertising
PU
06/29HP INC. : Announces Termination of Shareholder Rights Plan
AQ
06/26HP INC : Material Modification to Rights of Security Holders, Other Events, Fina..
AQ
06/26HP Inc. Announces Termination of Shareholder Rights Plan
GL
06/24HP Inc. Board Declares Dividend
GL
06/24HP : Haim Levit Appointed as HP Indigo General Manager
PU
More news
Financials (USD)
Sales 2020 54 182 M - -
Net income 2020 2 586 M - -
Net Debt 2020 1 300 M - -
P/E ratio 2020 9,40x
Yield 2020 4,15%
Capitalization 24 295 M 24 295 M -
EV / Sales 2019
EV / Sales 2020 0,47x
Nbr of Employees 56 000
Free-Float 99,8%
Chart HP INC.
Duration : Period :
HP Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HP INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 18,44 $
Last Close Price 16,99 $
Spread / Highest target 47,1%
Spread / Average Target 8,56%
Spread / Lowest Target -29,4%
EPS Revisions
Managers
NameTitle
Enrique Lores President, Chief Executive Officer & Director
Charles Victor Bergh Chairman
Steven Fieler Chief Financial Officer
Glenn Hopkins Chief Technology Officer
Shumeet Banerji Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HP INC.-17.32%24 295
DELL TECHNOLOGIES INC.3.97%39 582
GOERTEK INC.62.20%14 637
SEAGATE TECHNOLOGY PLC-20.37%12 159
HEWLETT PACKARD ENTERPRISE COMPANY-41.61%11 897
LOGITECH INTERNATIONAL S.A.37.68%11 264