HP Reports Third Consecutive Quarter of Revenue Growth, Raises Forecast
HP Inc. today posted results for its fourth quarter and full fiscal year, reporting revenue of $52.1 billion for its full fiscal year, up 8 percent versus the prior year. Earnings per share (EPS) for the full fiscal year were $1.48, down from $1.53 in the previous year, and within HP’s previously provided outlook of $1.46 to $1.50. Net earnings for its fiscal year were $2.5 billion, down 5 percent versus the previous fiscal year.
Fourth-quarter net revenue was $13.9 billion, up 11 percent versus fourth-quarter 2016. Net earnings for the fourth quarter were $0.2 billion, up 29 percent versus fiscal-year 2016’s fourth quarter.
Fourth-quarter EPS was $0.39, up from $0.30 in the prior-year period and within HP’s previously provided outlook of $0.37 to $0.41.
HP Inc. CEO and President Dion Weisler commented: “Our results demonstrate that HP is strong and getting stronger. We posted top-line growth across both Personal Systems and Print, with broad-based, double-digit growth in all three regions, while also growing operating profit and non-GAAP (Generally Accepted Accounting Principles) EPS year-over-year.”
For HP’s fourth quarter:
- Printing net revenue was up 7 percent year-over-year, with a 16.6-percent operating margin. Total hardware units were up 3 percent, with Commercial hardware units flat and Consumer hardware units up 3 percent. Supplies net revenue was up 10 percent.
- Personal Systems net revenue was up 13 percent year-over-year with a 3.8 percent operating margin. Commercial net revenue increased 11 percent and Consumer net revenue increased 18 percent. Total units were up 6 percent, with Notebooks units up 8 percent and Desktops units up 2 percent.
For first-quarter 2018, HP is raising its EPS, estimating EPS to be in the range of $0.38 to $0.42. For fiscal-year 2018, HP raises estimates EPS to be in the range of $1.70 to $1.80.
This was another good quarter for HP, as well as an encouraging full fiscal year. Of note is that in its printer group, printer-supplies revenue rebounded, with supplies net revenue up 10 percent year-over-year. HP’s upcoming first-quarter 2018 and full-year 2018 will include revenue from Samsung’s printer business; HP completed its acquisition of Samsung’s printer business earlier this month.
- November 2017: Industrial/Professional 3D-Printer Shipments Set for Growth as HP Inc., GE Move Into Global Top Five
- November 2017: Printer Sales Down in Western Europe, But HP Makes Gains
- November 2017: It’s Official: HP Completes Acquisition of Samsung’s Printing Business
- October 2017: HP: Full-Color 3D Printing, 3D-Metal Printing for Manufacturing on the Way
- October 2017: HP Inc. Forecasts Robust 2018 Fiscal Performance
- September 2017: HP Names Henkel First Global 3D-Printer Reseller, Also Expands European 3D Reseller Network
- August 2017: HP Regains Inkjet Leadership Position in India’s Printer and Copier/MFP Market
- August 2017: HP Posts Second-Consecutive Quarter of Higher Revenue, Raises Forecast