PALO ALTO, Calif., Nov. 22, 2022 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)
- Fiscal 2022 GAAP diluted net earnings per share ("EPS") of $3.05, below the previously provided outlook of $3.46 to $3.56 per share
- Fiscal 2022 non-GAAP diluted net EPS of $4.08, within the previously provided outlook of $4.02 to $4.12 per share
- Fiscal 2022 net revenue of $63.0 billion, down 0.8% from the prior-year period
- Fiscal 2022 net cash provided by operating activities of $4.5 billion, free cash flow of $3.9 billion
- Fiscal 2022 returned $5.3 billion to shareholders in the form of share repurchases and dividends
- Fourth quarter GAAP diluted net EPS was negligible, below the previously provided outlook of $0.44 to $0.54 per share, due to one-time non-cash tax adjustments
- Fourth quarter non-GAAP diluted net EPS of $0.85, within the previously provided outlook of $0.79 to $0.89 per share
- Fourth quarter net revenue of $14.8 billion, down 11.2% from the prior-year period
- Fourth quarter net cash provided by operating activities of $1.9 billion, free cash flow of $1.8 billion
- Fourth quarter returned $1.0 billion to shareholders in the form of share repurchases and dividends
- HP Inc. announces dividend increase of 5%
- HP Inc. announces Future Ready Transformation Plan, estimates annualized gross run rate cost savings of at least $1.4 billion by the end of fiscal 2025, and restructuring and other charges of approximately $1.0 billion
HP Inc.'s fiscal 2022 full-year and fourth quarter financial performance
| FY22 | FY21 | Y/Y | Q4 FY22 | Q4 FY21 | Y/Y | |||||||||||
| GAAP net revenue ($B) | $ | 63.0 | $ | 63.5 | (0.8)% | $ | 14.8 | $ | 16.7 | (11.2)% | ||||||
| GAAP operating margin | 7.4% | 8.4% | (1.0) pts | 5.2% | 7.4% | (2.2) pts | ||||||||||
| GAAP net earnings1 ($B) | $ | 3.2 | $ | 6.5 | (51)% | $ | -- | $ | 3.1 | (100)% | ||||||
| GAAP diluted net EPS1 | $ | 3.05 | $ | 5.33 | (43)% | $ | -- | $ | 2.71 | (100)% | ||||||
| Non-GAAP operating margin 2 | 8.7% | 9.1% | (0.4) pts | 7.7% | 8.1% | (0.4) pts | ||||||||||
| Non-GAAP net earnings 2 ($B) | $ | 4.3 | $ | 4.6 | (7)% | $ | 0.9 | $ | 1.1 | (21)% | ||||||
| Non-GAAP diluted net EPS 2 | $ | 4.08 | $ | 3.79 | 8% | $ | 0.85 | $ | 0.94 | (10)% | ||||||
| Net cash provided by operating activities 1 ($B) | $ | 4.5 | $ | 6.4 | (30)% | $ | 1.9 | $ | 2.8 | (33)% | ||||||
| Free cash flow 2 ($B) | $ | 3.9 | $ | 4.2 | (8)% | $ | 1.8 | $ | 0.9 | 94% | ||||||
