HP issues EPS guidance for fiscal 2019
Tech Earnings
HP issued earnings guidance for fiscal 2019. The Palo Alto tech giant said it expects non-GAAP earnings to be in the range of $2.12 to $2.22, with free cash flow of at least $3.7 billion. The company expects to return 75 percent of free cash flow to shareholders through share repurchases and dividend increases.
For comparison, HP's fiscal 2018 outlook calls for non-GAAP EPS of $2.00 to $2.03, with free cash flow of of at least $3.7 billion.
"FY18 has been a strong year for HP," said CFO Steve Fieler. "In FY19 we will continue to execute against our core, growth and future strategy, driving productivity improvements, and investing for the future to maximize shareholder value over the long term."
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HP's chief executive Dion Weisler added: "I'm enormously proud of what we have accomplished in the last twelve months. We continued to showcase our ability to reinvent the core, make progress against our growth initiatives, and lay the foundation for our future."
HP reported third quarter 2018 results back in August that showed year-over-year growth in both personal systems and printing revenue. By segment, Personal Systems net revenue was up 12 percent year-over-year, with a 3.9 percent operating margin. Printing net revenue was up 11 percent year-over-year with a 16 percent operating margin.
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