HP Inc. Reports Fiscal 2026 Second Quarter Results

HP Inc. announced its fiscal 2026 second-quarter financial results, showing strong revenue growth and earnings. Net revenue reached $14.4 billion, a 9% increase from the same period last year, while GAAP diluted net earnings per share rose 16.7% to $0.49. Non-GAAP diluted net earnings per share grew 21.1% to $0.86, surpassing the company’s outlook of $0.70 to $0.76. The company attributed its performance to its 'future of work' strategy, focusing on intelligent devices, edge AI, and connected experiences. New innovations included AI-powered PCs, Z workstations, and AI-driven print solutions, designed to enhance productivity. Interim CEO Bruce Broussard emphasized the progress in building AI-driven devices, while CFO Karen Parkhill noted disciplined execution in a challenging economic environment. HP generated $0.9 billion in operating cash flow and $0.8 billion in free cash flow for the quarter, marking a significant improvement from negative free cash flow in the prior-year period. The company returned $374 million to shareholders through dividends and share repurchases, including a $0.30 per-share dividend and the repurchase of approximately 5.2 million shares. Operational metrics showed accounts receivable at $6.1 billion (38 days), inventory at $9.2 billion (73 days), and accounts payable at $19.2 billion (151 days). Free cash flow adjustments included $24 million for lease investments and $170 million for property, plant, and intangible assets. HP’s financial discipline and AI-driven growth strategy positioned it for continued performance in a dynamic market.