You are here

HP reports fourth-quarter, full-year results

HP Inc. reported its fiscal 2019 net revenue of $58.8 billion, up 0.5% from the prior-year period. For the quarter, net revenue was $15.4 billion, up 0.3% from the prior-year period. For the full year, net earnings dropped 41% to $3.2 billion, compared to $5.3 billion last year; the company was impacted by a 73-percent earnings drop in the fourth quarter.

In the fourth quarter, Printing business 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%, the company said. Supplies net revenue was down 7% (down 7% in constant currency).

HP Inc.’s fiscal 2019 full-year and fourth quarter financial performance
FY19 FY18 Y/Y Q4 FY19 Q4 FY18 Y/Y
GAAP net revenue ($B) $ 58.8 $ 58.5 0.5% $ 15.4 $ 15.4 0.3%
GAAP operating margin 6.6% 6.6% 6.1% 6.5% (0.4) pts
GAAP net earnings ($B) $ 3.2 $ 5.3 (41)% $ 0.4 $ 1.5 (73)%
GAAP diluted net EPS $ 2.07 $ 3.26 (37)% $ 0.26 $ 0.91 (71)%
Non-GAAP operating margin 7.3% 7.1% 0.2 pts 7.3% 7.0% 0.3 pts
Non-GAAP net earnings ($B) $ 3.4 $ 3.3 3% $ 0.9 $ 0.9 4%
Non-GAAP diluted net EPS $ 2.24 $ 2.02 11% $ 0.60 $ 0.54 11%
Net cash provided by operating activities ($B) $ 4.7 $ 4.5 3% $ 0.6 $ 1.0 (39)%
Free cash flow ($B) $ 4.0 $ 4.2 (4)% $ 0.4 $ 0.8 (53)%

“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,” said Enrique Lores, president and CEO, HP. “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.”

 

 

Advertisements

Related posts

One thought on “HP reports fourth-quarter, full-year results

Comments are closed.

%d bloggers like this:
Skip to toolbar