HP Inc. Files Q3 2024 10-Q Report

TL;DR

HP's Q3 2024 10-Q is in. Check financials for the computer giant.

AI Summary

HP Inc. filed its 10-Q for the period ending July 31, 2024, reporting on its third fiscal quarter. The company's financial performance and operational details for this period are detailed in the filing. Key financial metrics and business segment information are provided, offering insight into HP's current standing in the computer and office equipment industry.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for HP Inc., crucial for understanding the company's health and future prospects in the tech sector.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the information within can reveal significant financial health indicators and operational risks.

Key Numbers

• Q3 2024 — Fiscal Quarter (The reporting period covered by the 10-Q filing.)
• 10/31 2024 — Fiscal Year End (HP Inc.'s fiscal year concludes on October 31st.)

Key Players & Entities

• HP Inc. (company) — Filer of the 10-Q report
• 20240731 (date) — End of the reporting period
• 0000047217 (company) — Central Index Key for HP Inc.
• 1501 PAGE MILL ROAD (address) — HP Inc. business and mailing address
• PALO ALTO, CA (address) — HP Inc. business and mailing city and state

FAQ

Key Financial Figures

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

Filing Documents

• hpq-20240731.htm (10-Q) — 2056KB
• exhibit10a-fy22parsuagreem.htm (EX-10.(A)) — 106KB
• exhibit10b-fy23parsuagreem.htm (EX-10.(B)) — 109KB
• hp-73124xexhibit311q324.htm (EX-31.1) — 9KB
• hp-73124xexhibit312q324.htm (EX-31.2) — 10KB
• hp-73124xexhibit32q324.htm (EX-32) — 10KB
• image_0.jpg (GRAPHIC) — 7KB
• image_01.jpg (GRAPHIC) — 7KB
• 0000047217-24-000070.txt ( ) — 11995KB
• hpq-20240731.xsd (EX-101.SCH) — 72KB
• hpq-20240731_cal.xml (EX-101.CAL) — 124KB
• hpq-20240731_def.xml (EX-101.DEF) — 304KB
• hpq-20240731_lab.xml (EX-101.LAB) — 841KB
• hpq-20240731_pre.xml (EX-101.PRE) — 580KB
• hpq-20240731_htm.xml (XML) — 2339KB

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 July 31, 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 a

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 54 Item 4.

Controls and Procedures

Controls and Procedures 54

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 55 Item 1A.

Risk Factors

Risk Factors 55 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 56 Item 3. Defaults Upon Senior Securities 56 Item 4. Mine Safety Disclosures 56 Item 5. Other Information 56 Item 6. Exhibits 56 Exhibit Index 57 Signature 59 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 nine months ended July 31, 2024 and 2023 (Unaudited) 6 Consolidated Condensed Statements of Comprehensive Income for the three and nine months ended July 31, 2024 and 2023 (Unaudited) 7 Consolidated Condensed Balance Sheets as of July 31, 2024 and October 31, 2023 (Unaudited) 8 Consolidated Condensed Statements of Cash Flows for the nine months ended July 31, 2024 and 2023 (Unaudited) 9 Consolidated Condensed Statements of Stockholders' Deficit (Unaudited) 10 Notes to Consolidated Condensed Financial Statements (Unaudited) 12 Note 1: Basis of Presentation 12 Note 2: Segment Information 13 Note 3: Restructuring and Other Charges 15 Note 4: Retirement and Post-Retirement Benefit Plans 16 Note 5: Taxes on Earnings 18 Note 6: Supplementary Financial Information 19 Note 7: Fair Value 23 Note 8: Financial Instruments 25 Note 9: Borrowings 30 Note 10: Stockholders' Deficit 32 Note 11: Earnings Per Share 34 Note 12: Litigation and Contingencies 34 Note 13: Guarantees, Indemnifications and Warranties 38 5 Table of Contents HP INC. AND SUBSIDIARIES Consolidated Condensed Statements of Earnings (Unaudited) Three months ended July 31 Nine months ended July 31 2024 2023 2024 2023 In millions, except per share amounts Net revenue: Products $ 12,750 $ 12,422 $ 37,212 $ 37,615 Services 769 774 2,292 2,286 Total net revenue 13,519 13,196 39,504 39,901 Cost of net revenue: Products 10,164 9,939 29,359 30,085 Services 449 435 1,328 1,293 Total cost of net revenue 10,613 10,374 30,687 31,378 Gross margin 2,906 2,822 8,817 8,523 Research and development 413 354 1,248 1,167 Selling, general and administrative 1,404 1,302 4,249 4,031 Restructuring and other charges 46 75 180 416 Acquisition and divestiture charges 22 48 71 205 Amortization of intangible assets 81 91 242 262 To

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View this 10-Q filing on SEC EDGAR