Hp Inc (HPQ) 10-Q Quarterly Report March 2019



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News Release
HP Inc. Reports Fiscal 2019 First Quarter Results



PALO ALTO, CA – (GlobeNewswire) – February 27, 2019 – HP (NYSE: HPQ)
●	First quarter GAAP diluted net earnings per share ("EPS") of $0.51, above the previously provided outlook of $0.46 to $0.49 per share
●	First quarter non-GAAP diluted net EPS of $0.52, within the previously provided outlook of $0.50 to $0.53 per share
●	First quarter net revenue of $14.7 billion, up 1% from the prior-year period
●	First quarter net cash provided by operating activities of $0.9 billion, free cash flow of $0.7 billion
●	First quarter returned $1.0 billion to shareholders in the form of share repurchases and dividends



HP Inc. fiscal 2019 first quarter financial performance
	Q1 FY19		Q1 FY18		Y/Y
GAAP net revenue ($B)	$	14.7	$	14.5	1%
GAAP operating margin	6.3%		6.3%		–
GAAP net earnings ($B)	$	0.8	$	1.9	(59)%
GAAP diluted net EPS	$	0.51	$	1.16	(56)%
Non-GAAP operating margin	6.9%		6.9%		–
Non-GAAP net earnings ($B)	$	0.8	$	0.8	1%
Non-GAAP diluted net EPS	$	0.52	$	0.48	8%
Net cash provided by operating activities ($B)	$	0.9	$	1.0	(13)%
Free cash flow ($B)	$	0.7	$	1.0	(31)%

Notes to table

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

Net revenue and EPS results

HP Inc. (“HP”) announced fiscal 2019 first quarter net revenue of $14.7 billion, up 1% (up 2% in constant currency) from the prior-year period.

First quarter GAAP diluted net EPS was $0.51, down from $1.16 in the prior-year period and above the previously provided outlook of $0.46 to $0.49. First quarter non-GAAP diluted net EPS was $0.52, up from $0.48 in the prior-year period and within the previously provided outlook of $0.50 to $0.53. First quarter non-GAAP net earnings and

The following information was filed by Hp Inc (HPQ) on Wednesday, February 27, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hp Inc's 10-Q Quarterly Report:

Financial - Earnings Highlight
Gross Margin For the three months ended January 31, 2019, our gross margin remained flat, as compared to the prior-year period, primarily driven by higher pricing in Personal Systems, offset by an increase in commodity and logistics costs in Personal Systems, lower Supplies mix in Printing and unfavorable foreign currency impacts.

Financial - Debt Highlight
While we do not have any rating downgrade triggers that would accelerate the maturity of a material amount of our debt, previous downgrades have increased the cost of borrowing under our credit facilities, have reduced market capacity for our commercial paper and have required the posting of additional collateral under some of our derivative contracts.
Revenue - Geography Highlight
As of January 31, 2018, we had not yet completed our analysis of the full impact of TCJA however we recorded a provisional tax benefit of $1.1 billion related to $5.5 billion net benefit for the decrease in our deferred tax liability on unremitted foreign earnings, partially offset by $3.2 billion net expense for the repatriation tax payable in installments over eight years and $1.2 billion net expense for remeasurement of our deferred tax assets and liabilities for the revaluation of our deferred assets and liabilities to the new US rate of 21%.
Financial - Cash Flow Highlight
Our key cash flow metrics were as follows: Operating Activities Compared to the corresponding period in fiscal year 2018, net cash provided by operating activities decreased by $134 million for the three months ended January 31, 2019, primarily due to working capital management activities.
Financial - Earnings Highlight
Personal Systems earnings from operations as a percentage of net revenue increased by 0.7 percentage points for the three months ended January 31, 2019 as compared to the prior-year period.
M & A - Other
Amortization of Intangible Assets Amortization...Read more
Revenue - Product
The components of net revenue...Read more
Revenue - Product
The increase in DPO was...Read more
Revenue - Product
Net revenue for Supplies decreased...Read more
Revenue - Product
Net revenue for Commercial Hardware...Read more
Other - Other
For a further discussion of...Read more
Revenue - Product
Consumer and Commercial revenue increased...Read more
Financial - Cash Flow
Our cash position remains strong,...Read more
Financial - Debt
Financing Activities Compared to the...Read more
Financial - Earnings
In Personal Systems, our strategic...Read more
Revenue - Product
The decrease in DOS was...Read more
Financial - Earnings
The increase in gross margin...Read more
Revenue - Product
The increase in printer unit...Read more
Revenue - Product
The unit volume increase was...Read more
Other - Other
We expect the actual cash...Read more
M & A - Other
Investing Activities Compared to the...Read more
Other - Other
DPO measures the average number...Read more
Mgmt Change - Other
Realignment Effective at the beginning...Read more
Other - Other
Our weighted-average interest rate reflects...Read more
Financial - Expense
The guidance indicates that either...Read more
Financial - Expense
While our access to capital...Read more
Other - Other
In addition, any further downgrade...Read more
Other - Other
DSO measures the average number...Read more
Revenue - Product
We typically experience higher net...Read more
Revenue - Product
As a result, our net...Read more
Revenue - Product
This may change the pattern...Read more
Financial - Earnings
The gross margin decrease was...Read more
Other - Other
We are a leading global...Read more
Financial - Expense
Operating expenses as a percentage...Read more
Financial - Expense
Operating expenses as a percentage...Read more
Revenue - Product
The increase in net revenue...Read more
Revenue - Product
We also continue to work...Read more
Other - Other
In addition, we continue to...Read more
Revenue - Product
The components of net revenue...Read more
Other - Other
To address these challenges, we...Read more
Other - Other
For a summary of recent...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Hp Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.(J)(J)(J): Material Contract

Exhibit 10.(K)(K): Material Contract

Exhibit 10.(K)(K)(K): Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: HPQ
CIK: 47217
Form Type: 10-Q Quarterly Report
Accession Number: 0000047217-19-000017
Submitted to the SEC: Tue Mar 05 2019 11:19:52 AM EST
Accepted by the SEC: Tue Mar 05 2019
Period: Thursday, January 31, 2019
Industry: Computer And Office Equipment