HP Inc. (HPQ) Earnings Call Transcripts

HP Inc.'s Latest Earnings Call - June 2, 2026

In the second quarter of fiscal year 2026, HP Inc. (HPQ:US) reported earnings significantly better than expected, achieving over 20% year-over-year growth. Revenue was driven by a robust performance in the PC segment, with management raising full-year guidance to a range of $2.90 to $3.10 per share. Free cash flow guidance was also increased to $2.8 billion to $3 billion, reflecting strong operational execution and improved working capital management. However, management indicated that margins would remain below long-term targets in the back half of the year due to rising input costs and anticipated declines in unit volume.

Reported metrics

Guidance from management

Management raised full-year EPS guidance to $2.90 to $3.10 and free cash flow guidance to $2.8 billion to $3 billion, reflecting confidence in operational performance despite anticipated margin pressures.

What management said

Yes. So we think the announcement yesterday really strengthened our thesis all along that more and more AI is going to be done at the edge. It is safer, more secure. It's a lot cheaper doesn't use the tokens that you need for the cloud. It's better for the environment. And so we just think more and more is going to be done at the edge. And NVIDIA's announcement of the Windows platform for AI locally, RTX Spark is exa...

Yes. So we have these long-term agreements that give us the assurance of the supply and give us confidence that we've got the supply that we need. And that gives us the confidence that we have the supply we need for this year, and we're already working on next year. In terms of pricing with those agreements, we focus on locking in the price a quarter in advance so that we at least know how we should be pricing for ...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of revenue growth amid expected declines in unit volume and rising input costs. There were questions about the potential impact of these factors on future margins and overall profitability.

Main topics on the call

• Revenue Growth and Guidance — HP reported strong revenue growth, with management stating, 'we did announce earnings significantly better than expected, above our guidance range and with over 20% year-over-year growth.' They raised their full-year gui...
• Free Cash Flow Improvement — Management highlighted a strong free cash flow performance, stating, 'we're really pleased to have delivered about $1 billion in free cash flow just in our first half.' They expect to generate $2.8 billion to $3 billion ...
• Margin Pressures — Despite revenue growth, management cautioned that margins are expected to be 'below our long-term range for the back half' due to rising memory and storage costs. They anticipate reaching a margin trough in Q4 before imp...
• AI PC Adoption — HP is seeing increased demand for AI-enabled PCs, with shipments rising from 35% to 44% of total shipments. Management stated, 'we expect them to be 60% to 70% of our shipments as we look ahead into FY '27,' signaling a ...

Read the full HP Inc. transcript (June 2, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 75 HP Inc. earnings call transcripts on record, spanning February 24, 2020 to June 2, 2026. Based on this history, HP Inc. reports quarterly. The most recent call on file is dated June 2, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HPQ

Exchange

NYSE

Country

US

Sector

Information Technology

Industry

Technology Hardware, Storage and Peripherals

Calls on record

75

First call

February 24, 2020

Most recent

June 2, 2026

Reporting cadence

quarterly