HP Inc (NYSE: HPQ) sank below breakeven during the week’s last session, as HP reported in-line earnings for its full fiscal year, while sales exceeded views.
HP announced fiscal 2018 net revenue of $58.5 billion, up 12% (up 10% in constant currency) from the prior-year period.
Fiscal 2018 GAAP diluted net EPS was $3.26, up from $1.48 in the prior-year period and above the previously provided outlook of $2.82 to $2.85. Fiscal 2018 non-GAAP diluted net EPS was $2.02, up from $1.65 in the prior-year period and within the previously provided outlook of $2.00 to $2.03.
HP generated $4.5 billion in net cash provided by operating activities and $4.2 billion of free cash flow in fiscal 2018. The free cash flow figure includes net cash provided by operating activities and net investments in property, plant and equipment of $0.4 billion.
HP utilized approximately $2.6 billion of cash during fiscal 2018 to repurchase approximately 112 million shares of common stock in the open market. When combined with the almost $0.9 billion of cash used to pay dividends, HP returned 83% of its free cash flow to shareholders in fiscal 2018.
For fiscal 2019, HP estimates GAAP diluted net EPS to be in the range of $2.04 to $2.14 and non-GAAP diluted net EPS to be in the range of $2.12 to $2.22.
Said CEO Dion Weisler, "These results reflect our continued innovation across the portfolio and sharp execution across segments and regions as we position HP for continued long-term sustainable growth."
Shares in HP Inc. gave back four cents to $22.82, as Friday’s session got started.
