# HP Inc. (HPQ) Recent Events Through Fiscal Q3 2026 ## Filings that contain financial statements HP Inc. furnishes each quarterly earnings release as Exhibit 99.1 to a Form 8-K. These releases carry condensed, unaudited statements of earnings, balance sheets, statements of cash flows, and segment tables. - Form 8-K filed August 26, 2026 (accession 0000047217-26-000048): fiscal Q3 2026 (three and nine months ended July 31, 2026). Holds earnings statements for the three and nine months, the balance sheet at July 31, 2026 against October 31, 2025, cash flow statements for the three and nine months, segment results, and GAAP to non-GAAP reconciliations. - Form 8-K filed May 27, 2026 (accession 0000047217-26-000027): fiscal Q2 2026 (quarter ended April 30, 2026), with the same set of statements. - Form 8-K filed February 24, 2026 (accession 0000047217-26-000009): fiscal Q1 2026 (quarter ended January 31, 2026), with the same set of statements. - Form 8-K filed November 25, 2025 (accession 0000047217-25-000068): fiscal Q4 and full year 2025 (year ended October 31, 2025), with the same set of statements. The Form 10-Q for the quarter ended July 31, 2026 was filed August 27, 2026 (accession 0000047217-26-000051). ## Earnings and guidance **Fiscal Q3 2026 results (8-K, August 26, 2026; accession 0000047217-26-000048).** - Net revenue was $15.7 billion, up 12.5% from a year earlier. Personal Systems revenue was $11.8 billion, up 18%. Printing revenue was $3.9 billion, down 2%. - GAAP diluted EPS was $0.71, down from $0.80. Non-GAAP diluted EPS was $0.83, up from $0.75. Both included an $0.11 favorable effect from tariff refunds. Both were above the outlook given in May (GAAP $0.47 to $0.63, non-GAAP $0.61 to $0.71). - Operating cash flow was $1.7 billion and free cash flow was $1.6 billion. HP repurchased about 12.2 million shares for $300 million and paid $274 million in dividends. - **Guidance raised.** Fiscal 2026 GAAP diluted EPS is now $2.52 to $2.62 (May: $2.15 to $2.45). Non-GAAP diluted EPS is now $3.19 to $3.29 (May: $2.90 to $3.10). Both include a $0.19 favorable effect from estimated tariff refunds. Free cash flow is now $3.0 to $3.2 billion (May: $2.8 to $3.0 billion). Fiscal Q4 2026 GAAP diluted EPS is guided to $0.74 to $0.84 and non-GAAP to $0.69 to $0.79, including an $0.08 benefit from estimated tariff refunds. **Fiscal Q2 2026 results (8-K, May 27, 2026; accession 0000047217-26-000027).** Net revenue was $14.4 billion, up 9.0%. GAAP diluted EPS was $0.49 and non-GAAP diluted EPS was $0.86. The full-year outlook was updated to GAAP EPS of $2.15 to $2.45 and non-GAAP EPS of $2.90 to $3.10, with free cash flow of $2.8 to $3.0 billion. HP described this as strengthening its outlook. **Fiscal Q1 2026 results (8-K, February 24, 2026; accession 0000047217-26-000009).** Net revenue was $14.4 billion, up 6.9%. GAAP diluted EPS was $0.58 and non-GAAP diluted EPS was $0.81. HP held its full-year range (GAAP EPS $2.47 to $2.77, non-GAAP EPS $2.90 to $3.20, free cash flow $2.8 to $3.0 billion) but said it expected results closer to the low end of each range, citing increasing memory costs and U.S. trade-related costs. **Fiscal Q4 and full-year 2025 results (8-K, November 25, 2025; accession 0000047217-25-000068).** Fiscal 2025 net revenue was $55.3 billion, up 3.2%. GAAP diluted EPS was $2.65 and non-GAAP diluted EPS was $3.12. The fiscal 2026 outlook issued then was GAAP EPS of $2.47 to $2.77, non-GAAP EPS of $2.90 to $3.20, and free cash flow of $2.8 to $3.0 billion. **Fiscal 2027 planning assumption (8-K, September 21, 2026; accession 0001140361-26-037170).** HP said it remains in its planning period for fiscal 2027 and is not providing guidance. Its preliminary assumption is that industry-wide PC unit volumes decline roughly mid-single-digits in percentage terms in calendar 2027 versus calendar 2026. HP noted this depends on second-half calendar 2026 market performance. ## Tariff refunds The fiscal Q3 release attributes $0.11 of EPS to tariff refunds. The Form 10-Q (accession 0000047217-26-000051) explains that on February 20, 2026 the U.S. Supreme Court held that tariffs imposed under the International Emergency Economic Powers Act were not authorized by statute. As of July 31, 2026 HP had applied for recovery of approximately $0.3 billion of previously paid tariffs. It received $127 million in the quarter and a further $91 million after quarter end. Refunds are recorded as a reduction of products cost of net revenue when received. ## Management and governance - **CEO change (8-K, February 3, 2026; accession 0001140361-26-003514).** Enrique Lores stepped down as President and CEO and as a director, effective end of day February 2, 2026, to pursue an opportunity outside HP. Director Bruce Broussard became interim CEO effective February 3, 2026, at $362,500 per month plus a one-time restricted stock unit award with a grant-date value of $7.0 million that cliff-vests February 3, 2027. The board formed a CEO Search Committee. It also reduced authorized directorships from 13 to 12. HP reaffirmed its first-quarter and full-year fiscal 2026 outlook in the same filing. The filings reviewed through the date of this document do not report a permanent CEO appointment. Mr. Broussard was still identified as interim CEO in the August 26, 2026 release. - **Personal Systems leadership (8-K, October 1, 2025; accession 0001140361-25-036906; amended December 29, 2025, accession 0001140361-25-046753).** Alex Cho stepped down as President of Personal Systems effective November 1, 2025, succeeded by Ketan Patel. The amendment says Mr. Cho will assist with the transition until a later, mutually agreed time rather than ending December 31, 2025. - **Annual meeting (8-K, April 21, 2026; accession 0000047217-26-000019).** At the April 16, 2026 meeting, stockholders elected twelve directors, ratified Ernst & Young LLP for the fiscal year ending October 31, 2026, approved executive compensation on an advisory basis, and approved the Fifth Amended and Restated 2004 Stock Incentive Plan, which adds 73,600,000 shares available for awards. - **Bylaws (8-K, June 26, 2026; accession 0000047217-26-000041).** On June 24, 2026 the board narrowed the definition of "competitor" in the director qualification provision to a principal competitor of HP, as determined by the board. ## Capital actions and restructuring - **Restructuring plan (8-K, November 25, 2025; accession 0000047217-25-000068).** The board approved a plan, to run through fiscal 2028, to drive productivity through artificial intelligence adoption. HP targets about $1 billion of gross run-rate savings by the end of fiscal 2028. It expects about $650 million of restructuring and other charges, of which about $550 million is cash. About $400 million relates to workforce reductions of roughly 4,000 to 6,000 employees. - **Dividend increase (same filing).** The planned quarterly dividend was raised to $0.30 per share starting with the first fiscal quarter of 2026. - **Share repurchases.** The fiscal Q3 release reports $300 million of open-market repurchases in the quarter. The Form 10-Q reports $0.7 billion repurchased in the nine months and about $7.7 billion remaining under the authorization at July 31, 2026. ## Mergers, acquisitions and debt The filings reviewed report no signed or closed acquisition during fiscal 2026. The nine-month cash flow statement shows a $10 million acquisition payment and $26 million of divestiture proceeds. In April 2025 (8-K filed April 25, 2025; accession 0001140361-25-015755) HP closed an offering of $500 million of 5.400% notes due 2030 and $500 million of 6.100% notes due 2035. No new note offering appears in the 8-Ks filed since.