HP Inc. Reports Fiscal 2024 Third Quarter Results


HP INC. AND SUBSIDIARIES
ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS,
OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE
(Unaudited)
(In millions, except per share amounts)
 
  Nine months ended
  July 31, 2024  July 31, 2023
  Amounts  Diluted
net earnings
per share
  Amounts  Diluted
net earnings
per share
GAAP net earnings$1,869  $1.88  $2,289  $2.29 
Non-GAAP adjustments:       
Restructuring and other charges 180   0.19   416   0.42 
Acquisition and divestiture charges 71   0.07   206   0.21 
Amortization of intangible assets 242   0.24   262   0.26 
Debt extinguishment benefit   ā€”       ā€”       (107 )     (0.11 )
Non-operating retirement-related credits   (7 )     (0.01 )     (35 )     (0.04 )
Tax adjustments (a)   84       0.08       (656 )     (0.65 )
Non-GAAP net earnings $ 2,439     $ 2.45     $ 2,375     $ 2.38  
               
GAAP earnings from operations $ 2,827         $ 2,442      
Non-GAAP adjustments:              
Restructuring and other charges   180           416      
Acquisition and divestiture charges   71           206      
Amortization of intangible assets   242           262      
Non-GAAP earnings from operations $ 3,320         $ 3,326      
               
GAAP operating margin   7.2%           6.1%      
Non-GAAP adjustments   1.2%           2.2%      
Non-GAAP operating margin   8.4%           8.3%      

(a) Includes tax impact on non-GAAP adjustments.

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