HP stock falls 3% on weak guidance

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HP stock falls 3% on weak guidance
Credit: © Reuters.

HP (NYSE: HPQ ) shares fell more than 3% after-hours following the company’s reported Q4 results, with revenues of $13.8 billion (down 6% year-over-year) coming in slightly lower than the consensus estimate of $13.82B. EPS of $0.90 was in line with expectations.

“Q4 was a solid quarter of sequential growth and strong free cash flow as we continued to improve the performance of the company. We are entering FY24 with a relentless focus on driving profitable growth, reducing our structural costs and returning 100% of our free cash flow to shareholders,” said CFO Marie Myers.

For Q1/24, the company expects EPS to be in the range of $0.76-$0.86, compared to the consensus of $0.86.

For the full year, HP sees EPS to be in the range of $3.25-$3.65, compared to the consensus estimate of $3.44. The company anticipates generating free cash flow in the range of $3.1-$3.6B in 2024.

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