HPQ

EX-99.1

2 hp43026exhibit991q226.htm

EX-99.1

Document

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EXHIBIT 99.1

News Release

HP Inc. Reports Fiscal 2026 Second Quarter Results

PALO ALTO, Calif. – May 27, 2026 (GLOBE NEWSWIRE) – HP (NYSE: HPQ)

•Second quarter GAAP diluted net earnings per share ("EPS") of $0.49, up 16.7% from the prior year period

•Second quarter non-GAAP diluted net EPS of $0.86, up 21.1% from the prior year period

•Second quarter net revenue of $14.4 billion, up 9.0% from the prior year period

•Second quarter net cash provided by operating activities of $0.9 billion, free cash flow of $0.8 billion

•Second quarter returned $374 million to shareholders in the form of dividends and share repurchases

HP Inc.'s fiscal 2026 second quarter financial performance

Q2 FY26Q2 FY25Y/Y

GAAP net revenue ($B)$14.4 $13.2 9.0%

GAAP operating margin4.2%4.9% (0.7) pts

GAAP net earnings ($B)$0.45 $0.41 11%

GAAP diluted net EPS$0.49 $0.42 17%

Non-GAAP operating margin7.5%7.3%

0.2 pts

Non-GAAP net earnings ($B)$0.79 $0.68 17%

Non-GAAP diluted net EPS$0.86 $0.71 21%

Net cash provided by operating activities ($B)1

$0.9 $0.0 NM

Free cash flow ($B)1

$0.8 $(0.1)NM

Notes to table

Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

1. "NM" represents not meaningful either because the amount is too small or large to be meaningful for comparative purposes.

Net revenue and EPS results

HP Inc. and its subsidiaries (“HP”) announced fiscal 2026 second quarter net revenue of $14.4 billion, up 9.0% (up 6.3% in constant currency) from the prior-year period.

"During the second quarter, we continued executing our future of work strategy through intelligent devices, edge AI, and connected experiences while navigating rising commodity costs,” said Bruce Broussard, Interim CEO, HP Inc. “We introduced innovations across AI PCs, Z workstations, AI-powered print, and HP IQ that simplify work and improve productivity. These reflect our progress in building intelligent devices and services that capture the value of AI at the edge and support long-term growth.”

“We delivered strong second-quarter results, with 9% revenue growth and even stronger earnings and free cash flow,” said Karen Parkhill, CFO, HP Inc. “With two solid quarters behind us, we are executing with discipline in a dynamic environment and are strengthening our outlook for the fiscal year to reflect this.”

Second quarter GAAP diluted net EPS was $0.49, up from $0.42 in the prior-year period and below the previously provided outlook of $0.52 to $0.58. Second quarter non-GAAP diluted net EPS was $0.86, up from $0.71 in the prior-year period and above the previously provided outlook of $0.70 to $0.76. Second quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude certain adjustments. Refer to "Adjustments to GAAP Net earnings" section in the below tables.

Asset management

HP's net cash provided by operating activities in the second quarter of fiscal 2026 was $0.9 billion. Accounts receivable ended the quarter at $6.1 billion, up 5 days quarter over quarter to 38 days. Inventory ended the quarter at $9.2 billion, up 5 days quarter over quarter to 73 days. Accounts payable ended the quarter at $19.2 billion, up 10 days quarter over quarter to 151 days.

HP generated $0.8 billion of free cash flow in the second quarter of fiscal 2026. Free cash flow includes net cash provided by operating activities of $0.9 billion adjusted for net investment in leases from integrated financing of $24 million and net investments in property, plant, equipment and purchased intangibles of $170 million.

HP’s dividend payment of $0.30 per share in the second quarter resulted in cash usage of $274 million. HP also utilized $100 million of cash during the quarter to repurchase approximately 5.2 million shares of common stock in the open market. HP exited the quarter with $3.7 billion in gross cash, which includes cash and cash equivalents of $3.7 billion and short-term investments of $3 million included in other current assets.

Fiscal 2026 second quarter segment results

•Personal Systems net revenue was $10.2 billion, up 13% year over year (up 10% in constant currency) with a 5.2% operating margin. Consumer PS net revenue was up 10% and Commercial PS net revenue was up 14%. Total units were down 7% with Consumer PS units down 8% and Commercial PS units down 7%.

•Printing net revenue was $4.2 billion, flat year over year (down 2% in constant currency) with an 18.3% operating margin. Consumer Printing net revenue was down 10% and Commercial Printing net revenue was flat. Supplies net revenue was up 1% (flat in constant currency). Total hardware units were down 7%, with Consumer Printing units down 8% and Commercial Printing units down 4%.

Outlook

For the

hpq-202602240000047217false00000472172026-02-242026-02-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

February 24, 2026

Date of Report (Date of Earliest Event Reported)

HP Inc.

(Exact name of registrant as specified in its charter)

Delaware1-442394-1081436 (State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

1501 Page Mill Road,Palo Alto,California94304 (Address of principal executive offices)(Zip code)

(650) 857-1501 (Registrant’s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per shareHPQNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.          ☐

Item 2.02.Results of Operations and Financial Condition.

The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set forth by specific reference in such filing.

On February 24, 2026, HP Inc. (“HP”) issued a news release relating to the results of operations for its fiscal quarter ended January 31, 2026. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01.Financial Statements and Exhibits.

(d)Exhibits

Exhibit NumberDescription 99.1HP Inc. News Release dated February 24, 2026.

104Cover Page Interactive Data File, formatted in Inline XBRL.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HP Inc.

DATE: February 24, 2026By:/s/ JULIE JACOBS Name:Julie Jacobs Title:Chief Legal Officer, General Counsel, and Corporate Secretary

false10-31000004721700000472172026-02-022026-02-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

February 2, 2026

Date of Report (Date of Earliest Event Reported)

HP Inc.

(Exact name of registrant as specified in its charter)

Delaware

1-4423

94-1081436

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

1501 Page Mill Road,

Palo Alto,

California

94304

(Address of principal executive offices)

(Zip code)

(650) 857-1501

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

HPQ

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.              ☐

Item 2.02

Results of Operations and Financial Condition.

The information set forth in Item 7.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.02.

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 3, 2026, HP Inc. (“HP” or the “Company”) announced that Enrique Lores has stepped down as President and Chief Executive Officer and a member of the board of directors of HP (the “Board”), effective as of the end of day on February 2, 2026. Mr. Lores has elected to pursue an opportunity outside of HP. The Board has formed a CEO Search Committee to identify the Company’s next permanent Chief Executive Officer.

On February 2, 2026, HP appointed Bruce Broussard, age 63, who is currently serving as a member of the Board, as interim Chief Executive Officer, effective as of February 3, 2026. Since 2024, Mr. Broussard has served as an advisor to Humana Inc., a leading healthcare company, where he previously served as President and CEO for more than a decade. Before that, Mr. Broussard was Chief Executive Officer of McKesson Specialty/US Oncology, Inc., where he also held senior positions including Chief Financial Officer, President and Chairman of the Board during his 11-year tenure.

In connection with these transition matters, the Board approved Mr. Broussard’s compensation package for his services as interim Chief Executive Officer, consisting of monthly cash compensation of $362,500, as well as a one-time sign-on equity award in the form of restricted stock units with respect to shares of common stock of the Company with a grant date value of $7,000,000. The sign-on equity award is subject to the terms and conditions of the Company’s 2004 Stock Incentive Plan and applicable award agreement with Mr. Broussard and will cliff-vest on February 3, 2027, subject to Mr. Broussard’s continued employment with the Company and/or continued service as a member of the Board. While serving as interim Chief Executive Officer, Mr. Broussard will continue serving as a member of the Board but will not receive any additional cash or equity compensation for such service.

In connection with his appointment as interim Chief Executive Officer, Mr. Broussard has resigned as a member and Committee Chair of the HR and Compensation Committee of the Board as well as a member of the Nominating, Governance and Social Responsibility Committee of the Board.

There are no arrangements or understandings between Mr. Broussard and any other persons pursuant to which he is appointed to serve as the interim Chief Executive Officer. Mr. Broussard has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, and Mr. Broussard has no family relationships with any director or executive officer of HP.

Item 5.03

Amendments to Articles of Incorporation or Bylaws.

On February 2, 2026, the Board adopted an amend