HP Inc. Files Q2 2024 10-Q Report

TL;DR

HP Inc. dropped its Q2 2024 10-Q. Check financials.

AI Summary

HP Inc. filed its 10-Q for the period ending April 30, 2024. The company, headquartered at 1501 Page Mill Road, Palo Alto, CA, reported financial results for its second fiscal quarter of 2024. HP Inc. is a major player in the computer and office equipment industry, incorporated in Delaware.

Why It Matters

This filing provides investors and analysts with HP Inc.'s latest financial performance and operational details, crucial for understanding the company's current standing and future outlook in the tech sector.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 23.8 — Shares (Indicates share count, though specific units are not detailed in this snippet.)

Key Players & Entities

• HP Inc. (company) — Filer
• 1501 Page Mill Road, Palo Alto, CA (location) — Business and Mail Address
• 20240430 (date) — Reporting Period End Date
• 20240530 (date) — Filing Date
• 3570 (number) — Standard Industrial Classification Code

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share HPQ New York Stock Exchange

Filing Documents

• hpq-20240430.htm (10-Q) — 1971KB
• hp-43024xexhibit311q224.htm (EX-31.1) — 9KB
• hp-43024xexhibit312q224.htm (EX-31.2) — 10KB
• hp-43024xexhibit32q224.htm (EX-32) — 10KB
• 0000047217-24-000041.txt ( ) — 11325KB
• hpq-20240430.xsd (EX-101.SCH) — 72KB
• hpq-20240430_cal.xml (EX-101.CAL) — 124KB
• hpq-20240430_def.xml (EX-101.DEF) — 293KB
• hpq-20240430_lab.xml (EX-101.LAB) — 818KB
• hpq-20240430_pre.xml (EX-101.PRE) — 565KB
• hpq-20240430_htm.xml (XML) — 2276KB

Financial Information

Part I. Financial Information UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2024 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4423 _________________________________________ HP INC. (Exact name of registrant as specified in its charter) Delaware 94-1081436 (State or other jurisdiction of incorporation or organization) (I.R.S. employer identification no.) 1501 Page Mill Road 94304 Palo Alto, California (Zip code) (Address of principal executive offices) ( 650 ) 857-1501 (Registrant's telephone number, including area code) _______________________________________ Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share HPQ New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act") during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or

Forward-Looking Statements

Forward-Looking Statements 3

Financial Information

Part I. Financial Information Item 1.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 53 Item 4.

Controls and Procedures

Controls and Procedures 53

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 3. Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 55 Exhibit Index 56 Signature 58 In this report on Form 10-Q, for all periods presented, "we", "us", "our", the "company", the "Company", "HP" and "HP Inc." refer to HP Inc. (formerly Hewlett-Packard Company) and its consolidated subsidiaries. 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q, including "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 2 of Part I, contains forward-looking statements based on current expectations and assumptions that involve risks and uncertainties. If the risks or uncertainties ever materialize or the assumptions prove incorrect, they could affect the business and results of operations of HP Inc. and its consolidated subsidiaries ("HP") which may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, any statements regarding the impact of the COVID-19 pandemic; projections of net revenue, margins, expenses, effective tax rates, net earnings, net earnings per share, cash flows, benefit plan funding, deferred taxes, share repurchases, foreign currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring and other charges, planned structural cost reductions and productivity initiatives; any statements of the plans, strategies and objectives of management for future operations, including, but not limited to, our business model and transformation, our sustainability goals, our go-to-market strategy, the execution of restructuring plans and any resulting cost savings (including the Fiscal 2023 Plan (as defined below)), net revenue or profitability improvements or other financial impacts; any statements concerning the expected development, demand, performance, market share or competitive performance relating to products or services; any statements concerning potential supply constraints, component shortages, manufacturing disruptions or logistics challenges; any statements regarding current or future macroeconomic trends or events and the impact of those tre

Financial Information

Part I. Financial Information

Financial Statements and Supplementary Data

ITEM 1. Financial Statements and Supplementary Data. Index Page Consolidated Condensed Statements of Earnings for the three and six months ended April 30, 2024 and 2023 (Unaudited) 6 Consolidated Condensed Statements of Comprehensive Income for the three and six months ended April 30, 2024 and 2023 (Unaudited) 7 Consolidated Condensed Balance Sheets as of April 30, 2024 and October 31, 2023 (Unaudited) 8 Consolidated Condensed Statements of Cash Flows for the six months ended April 30, 2024 and 2023 (Unaudited) 9 Consolidated Condensed Statements of Stockholders' Deficit (Unaudited) 10 Notes to Consolidated Condensed Financial Statements (Unaudited) 11 Note 1: Basis of Presentation 11 Note 2: Segment Information 12 Note 3: Restructuring and Other Charges 14 Note 4: Retirement and Post-Retirement Benefit Plans 15 Note 5: Taxes on Earnings 17 Note 6: Supplementary Financial Information 18 Note 7: Fair Value 22 Note 8: Financial Instruments 24 Note 9: Borrowings 29 Note 10: Stockholders' Deficit 31 Note 11: Earnings Per Share 33 Note 12: Litigation and Contingencies 33 Note 13: Guarantees, Indemnifications and Warranties 38 5 Table of Contents HP INC. AND SUBSIDIARIES Consolidated Condensed Statements of Earnings (Unaudited) Three months ended April 30 Six months ended April 30 2024 2023 2024 2023 In millions, except per share amounts Net revenue: Products $ 12,043 $ 12,149 $ 24,462 $ 25,193 Services 757 758 1,523 1,512 Total net revenue 12,800 12,907 25,985 26,705 Cost of net revenue: Products 9,324 9,557 19,195 20,146 Services 453 436 879 858 Total cost of net revenue 9,777 9,993 20,074 21,004 Gross margin 3,023 2,914 5,911 5,701 Research and development 436 410 835 813 Selling, general and administrative 1,462 1,397 2,845 2,728 Restructuring and other charges 71 200 134 341 Acquisition and divestiture charges 22 74 49 158 Amortization of intangible assets 80 86 161 171 Total oper

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View this 10-Q filing on SEC EDGAR