NYSE$HPQ

Hewlett Packard · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported fiscal year 2020 and fourth quarter results.

HP Inc. reported a strong fourth quarter with revenue of $15.3 billion, a GAAP diluted net EPS of $0.49, and a non-GAAP diluted net EPS of $0.62. The company saw sequential growth in revenue, operating profit, non-GAAP EPS, and cash flow. HP had record unit shipments in the quarter.

  • Fourth quarter GAAP diluted net EPS of $0.49, above the previously provided outlook of $0.32 to $0.36 per share
  • Fourth quarter non-GAAP diluted net EPS of $0.62, above the previously provided outlook of $0.50 to $0.54 per share
  • Fourth quarter net revenue of $15.3 billion, down 1.0% from the prior-year period
  • Fourth quarter net cash provided by operating activities of $1.9 billion, free cash flow of $1.8 billion

Headline financials

Total Revenue

$15.3B

Previous: $15.4B-1.0%
EPS (adj)

$0.62

Previous: $0.60+3.3%
GAAP Operating Margin

6.5%

No prior period
Free Cash Flow

$1.8B

No prior period
Net Income

$668M

Previous: $388M+72.2%
Operating Income

$992M

Previous: $944M+5.1%
Gross Profit

$2.68B

Previous: $2.92B-8.4%
Cash & Equivalents

$4.86B

Previous: $4.54B+7.2%
Total Assets

$34.7B

Previous: $33.5B+3.6%
Stock-Based Comp

$57M

Previous: $64M-10.9%

Revenue & EPS history

HP · Revenue · Quarterly

$15.3B

Q4 2020-1%vs Q4 2019
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

HP · $27.6B total across 7 segments · Q4 2023

  • Personal Systems
    $9.4B-8.5%
  • Commercial PS
    $6.21B
  • Printing
    $4.42B-2.5%
  • Consumer PS
    $3.19B
  • Supplies
    $2.82B+2.7%
  • Commercial Printing
    $1.06B
  • Consumer Printing
    $533M

Forward guidance

For the fiscal 2021 first quarter, HP estimates GAAP diluted net EPS to be in the range of $0.58 to $0.64 and non-GAAP diluted net EPS to be in the range of $0.64 to $0.70.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

-0.3%

Avg return

Earnings day

+0.0%

Avg return

5 days after

-2.0%

Avg return

30 days after

55%

40 / 73 earnings

Positive

+17.8%

Q2 2013

Best reaction

-17.4%

Q1 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+0.1%+7.9%
Q1 2026+0.9%+2.7%+6.8%
Q4 2025+3.0%+0.3%-4.4%
Q3 2025+4.3%+6.8%-1.5%
Q2 2025-8.9%-6.7%-8.9%
Q1 2025+0.1%+1.8%-6.2%
Q4 2024-11.8%-9.8%-14.9%
Q3 2024-0.4%+1.6%-0.5%
Q2 2024+15.8%+6.6%+5.7%
Q1 2024-1.7%+0.8%+4.8%
Q4 2023+2.4%+2.3%+7.7%
Q3 2023-6.5%-3.1%-18.4%
Q2 2023-7.2%-2.4%-3.1%
Q1 2023-1.8%-2.7%-1.7%
Q4 2022+2.6%+0.4%-10.5%
Q3 2022-8.9%-12.3%-20.6%
Q2 2022+4.1%+2.7%-15.4%
Q1 2022-1.1%+5.5%+12.7%
Q4 2021+11.0%+8.3%+17.9%
Q3 2021-1.6%+1.2%-5.1%
Q2 2021-9.1%-7.2%-7.6%
Q1 2021+3.6%+7.4%+13.2%
Q4 2020+5.0%+5.1%+14.5%
Q3 2020+8.3%+5.1%-0.2%
Q2 2020-12.0%-11.3%-2.6%
Q1 2020+2.9%-8.4%-32.2%
Q4 2019-1.8%-0.3%+2.7%
Q3 2019-6.1%-6.5%-2.6%
Q2 2019+4.3%+2.4%+7.8%
Q1 2019-17.4%-18.3%-18.7%
Q4 2018-1.8%-0.8%-13.2%
Q3 2018-1.4%+0.0%+5.5%
Q2 2018+1.1%+3.5%+3.5%
Q1 2018+4.5%+11.1%+3.2%
Q4 2017-3.5%-4.0%-3.9%
Q3 2017+2.1%+0.8%+4.8%
Q2 2017-3.1%-2.6%-6.1%
Q1 2017+9.1%+9.4%+6.8%
Q4 2016-7.1%-5.1%-5.4%
Q3 2016-1.4%-1.0%+3.6%
Q2 2016+9.5%+10.6%+2.9%
Q1 2016+0.3%
Q4 2015-11.2%
Q3 2015-1.0%
Q2 2015+5.1%
Q1 2015-9.2%
Q4 2014+4.4%
Q3 2014+4.3%
Q2 2014+3.7%
Q1 2014+1.1%
Q4 2013+8.0%
Q3 2013-14.0%
Q2 2013+17.8%
Q1 2013+15.0%
Q4 2011-3.1%
Q4 2012-10.3%
Q3 2012-11.5%
Q2 2012-0.1%
Q1 2012-7.9%
Q3 2011-5.4%
Q2 2011-0.3%
Q1 2011+2.2%
Q4 2010+1.0%
Q3 2010-1.4%
Q2 2010+0.4%
Q1 2009+1.1%
Q1 2010+1.6%
Q4 2009+0.3%
Q4 2007+0.3%
Q2 2009+0.3%
Q4 2008+2.0%
Q3 2009+2.0%
Q3 2008+2.0%

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