HP Inc. Reports Fiscal 2022 Third Quarter Results

(a) "NM" represents not meaningful.


HP INC. AND SUBSIDIARIES
SEGMENT/BUSINESS UNIT INFORMATION
(Unaudited)
(In millions)
 
  Nine months ended  Change (%)
  July 31, 2022  July 31, 2021  Y/Y
Net revenue:     
Notebooks$22,729  $22,183  2 %
Desktops 8,199   6,871  19 %
Workstations 1,565   1,177  33 %
Other 1,324   1,333  (1)%
Personal Systems 33,817   31,564  7 %
Supplies 9,013   9,575  (6)%
Commercial 3,117    3,112      %
Consumer   2,239       2,562     (13)%
Printing   14,369       15,249     (6)%
Corporate Investments (a)   1       1     NM
Total segment   48,187       46,814     3  %
Other (a)   (5 )     (2 )   NM
Total net revenue $ 48,182     $ 46,812     3  %
           
Earnings before taxes:          
Personal Systems $ 2,450     $ 2,337      
Printing   2,748       2,806      
Corporate Investments   (184 )     (82 )    
Total segment earnings from operations   5,014       5,061      
Corporate and unallocated cost and other   (409 )     (378 )    
Stock-based compensation expense   (273 )     (260 )    
Restructuring and other charges   (163 )     (216 )    
Acquisition-related charges   (83 )     (40 )    
Amortization of intangible assets   (154 )     (103 )    
Russia exit charges   (23 )          
Interest and other, net   (141 )     (106 )    
Total earnings before taxes $ 3,768     $ 3,958      
  • "NM" represents not meaningful.

HP INC. AND SUBSIDIARIES
SEGMENT OPERATING MARGIN SUMMARY
(Unaudited)
 
  Three months ended   Change (pts)
  July 31, 2022   April 30, 2022   July 31, 2021   Q/Q   Y/Y
Segment operating margin:                  
Personal Systems 6.9  %   6.9  %   8.4  %     (1.5)pts
Printing 19.9  %   19.3  %   17.6  %   0.6 pts   2.3 pts
Corporate Investments (a) NM   NM   NM   NM   NM
Total segment 10.6  %   10.3  %   11.2  %   0.3 pts   (0.6)pts
  • "NM" represents not meaningful.


HP INC. AND SUBSIDIARIES
CALCULATION OF DILUTED NET EARNINGS PER SHARE
(Unaudited)
(In millions, except per share amounts)
 
  Three months ended
  July 31, 2022   April 30, 2022   July 31, 2021
Numerator:          
GAAP net earnings $ 1,119   $ 1,000   $ 1,108
Non-GAAP net earnings $ 1,079   $ 1,152   $ 1,198
           
Denominator:          
Weighted-average shares used to compute basic net earnings per share   1,024     1,050     1,185
Dilutive effect of employee stock plans (a)   11     12     14
Weighted-average shares used to compute diluted net earnings per share   1,035     1,062     1,199
           
GAAP diluted net earnings per share $ 1.08   $ 0.94   $ 0.92
Non-GAAP diluted net earnings per share $ 1.04   $ 1.08   $ 1.00
  • Includes any dilutive effect of restricted stock units, stock options and performance-based awards.  

HP INC. AND SUBSIDIARIES
CALCULATION OF DILUTED NET EARNINGS PER SHARE
(Unaudited)
(In millions, except per share amounts)
 
  Nine months ended
  July 31, 2022   July 31, 2021
Numerator:      
GAAP net earnings $ 3,205   $ 3,404
Non-GAAP net earnings $ 3,434   $ 3,544
       
Denominator:      
Weighted-average shares used to compute basic net earnings per share   1,052     1,235
Dilutive effect of employee stock plans (a)   12     12
Weighted-average shares used to compute diluted net earnings per share   1,064     1,247
       
GAAP diluted net earnings per share $ 3.01   $ 2.73
Non-GAAP diluted net earnings per share $ 3.23   $ 2.84
  • Includes any dilutive effect of restricted stock units, stock options and performance-based awards

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