Home News Update HP Inc. Announces Fiscal 2020 Financial Outlook

HP Inc. Announces Fiscal 2020 Financial Outlook

by Imaging Solution Bureau

At HP’s 2019 Securities Analyst Meeting, the company provided details on its strategy and opportunities for long-term growth, along with its financial outlook for fiscal 2020.“We are taking bold and decisive actions as we embark on our next chapter,” said Enrique Lores, incoming president and CEO, HP Inc. “We see significant opportunities to create shareholder value and we will accomplish this by advancing our leadership, disrupting industries and aggressively transforming the way we work. We will become an even more customer-focused and digitally enabled company, that will lead with innovation and execute with purpose.”“I’m proud of the progress we have made across our business with cutting edge innovation, disciplined execution and a purpose driven culture,“ said Dion Weisler, president and CEO, HP Inc. “I have no doubt our team will keep raising the bar under Enrique’s leadership.”For fiscal 2020, the company estimates GAAP diluted net EPS to be in the range of $1.98 to $2.10 and estimates non-GAAP diluted net EPS to be in the range of $2.22 to $2.32. Fiscal 2020 non-GAAP diluted net EPS estimates exclude $0.22 to $0.24 per diluted share, primarily related to restructuring and other charges, acquisition-related charges, defined benefit plan settlement charges, amortization of intangible assets, non-operating retirement-related (credits)/charges, tax adjustments and the related tax impact on these items. Based on the current environment, HP anticipates generating free cash flow of at least $3.0 billion for fiscal 2020.In fiscal 2020, the company indicated that it expects to return at least 75% of free cash flow, with a 10% increase in the planned quarterly dividend amount, and the balance returned to shareholders through share repurchases.

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