HP Inc. and its subsidiaries (“HP”) announced fiscal 2021 first-quarter net revenue of $15.6 billion, up 7.0% (up 6.6% in constant currency) from the prior-year period.
First quarter GAAP diluted net EPS was $0.83, up from $0.46 in the prior-year period and above the previously provided outlook of $0.58 to $0.64. First quarter non-GAAP diluted net EPS was $0.92, up from $0.65 in the prior-year period and above the previously provided outlook of $0.64 to $0.70. First quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $120 million, or $0.09 per diluted share, related to restructuring and other charges, acquisition-related charges, amortization of intangible assets, nonoperating retirement-related (credits)/charges, and tax adjustments.
For the fiscal 2021 second quarter, HP estimates GAAP diluted net EPS to be in the range of $0.82 to $0.88 and non-GAAP diluted net EPS to be in the range of $0.84 to $0.90. Fiscal 2021 second quarter non-GAAP diluted net EPS estimates exclude $0.02 per diluted share, primarily related to restructuring and other charges, acquisition-related charges, amortization of intangible assets, non-operating retirementrelated (credits)/charges, tax adjustments and the related tax impact on these items.
For fiscal 2021, HP estimates GAAP diluted net EPS to be in the range of $2.98 to $3.08 and non-GAAP diluted net EPS to be in the range of $3.15 to $3.25. Fiscal 2021 non-GAAP diluted net EPS estimates exclude $0.17 per diluted share, primarily related to restructuring and other charges, acquisition-related charges, amortization of intangible assets, non-operating retirement-related (credits)/charges, tax adjustments and the related tax impact on these items. For fiscal 2021, HP anticipates generating free cash flow of at least $4.0 billion.
Source: investor.hp.com
