HP Inc. (NYSE: HPQ) released fiscal fourth-quarter financial results after markets closed Tuesday. The firm said that it had $0.60 in earnings per share (EPS) and $15.4 billion in revenue, compared with consensus estimates that called for $0.58 in EPS and $15.27 billion in revenue. The same period from last year had $0.54 in EPS and $15.37 billion in revenue.
Segment results were posted as follows:
- Personal Systems net revenue was up 4% year over year (up 5% in constant currency) with a 5.3% operating margin. Commercial net revenue increased 8% and Consumer net revenue decreased 4%. Total units were up 8% with Notebooks units up 9% and Desktops units up 5%.
- Printing net revenue was down 6% year over year (down 5% in constant currency) with a 15.6% operating margin. Total hardware units were down 9% with Commercial hardware units down 1% and Consumer hardware units down 10%. Supplies net revenue was down 7% (down 7% in constant currency).
Looking ahead to the fiscal first quarter, HP expects to see EPS in the range of $0.53 to $0.56. The consensus estimates are $0.54 in EPS and $14.69 billion in revenue for the quarter.
Enrique Lores, president and CEO, commented:
2019 marks our third consecutive year of revenue, non-GAAP operating profit and non-GAAP earnings growth, with non-GAAP EPS up 11% and strong free cash flow of $4 billion. We delivered an excellent Q4, with 11% non-GAAP EPS growth. Our strategy is working, and we are confident in our business heading into FY20.
Shares of HP closed Tuesday at $20.05, within a 52-week range of $15.93 to $24.17. The consensus analyst price target is $19.95. Following the announcement, the stock was up 2% at $20.50 in the after-hours session.
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