HP Inc Posts 11% PC Growth and Guides $2.4B Free Cash Flow
HP Inc. posted Q1 FY2026 adjusted EPS and net revenues above analyst forecasts, with Personal Systems revenue up 11% year-over-year offsetting a 2% Printing decline and free cash flow guidance set at $2.4 billion. The board also confirmed Enrique Lores as incoming CEO next week, succeeding Alex Chriss.
1. Q1 FY2026 Earnings Overview
HP Inc delivered adjusted EPS and net revenues above consensus for Q1 FY2026, reflecting resilience in a challenging macro environment. Management set free cash flow guidance at $2.4 billion (adjusted for stock-based compensation), underpinning its ongoing buybacks and dividend program.
2. Segment Performance Breakdown
Personal Systems revenue climbed 11% year-over-year, driven by robust enterprise and consumer PC demand. Printing revenue fell 2% as consumables sales softened, partially offset by strong hardware performance.
3. Leadership Transition
The board announced that Enrique Lores will assume the CEO role next week, succeeding Alex Chriss. Lores’s promotion underscores a focus on strategic continuity and shareholder return initiatives.