HP Inc. Q3 2026 Results: EPS Beat, Shares Slide
HP Inc (NYSE:HPQ) posted third‑quarter fiscal 2026 results that exceeded analyst forecasts. Adjusted earnings per share were $0.83, $0.17 above the consensus estimate of $0.66. Revenue reached $15.7 billion, a 12.5 % year‑over‑year increase and well above the $14.34 billion forecast, and included a $0.11 billion favorable impact from tariff refunds.
Interim CEO Bruce Broussard said the company “increased both total sales and share in premium products and continued to attract new customers with innovations in WXP, Print, workstations and AI PCs.”
For the full fiscal year 2026, HP raised its adjusted EPS guidance to a range of $3.19‑$3.29, with a midpoint of $3.24, surpassing the analyst consensus of $3.04. The company also lifted its free‑cash‑flow outlook for FY2026 to $3.0‑$3.2 billion.
Looking ahead to the fourth quarter of fiscal 2026, HP expects adjusted EPS of $0.69‑$0.79, which incorporates an estimated $0.08 billion benefit from tariff refunds.
Segment performance: the Personal Systems segment generated $11.8 billion in revenue, up 18 % YoY, although total unit shipments fell 16 %. Within Personal Systems, Commercial PC revenue grew 22 % and Consumer PC revenue rose 10 %. The Printing segment reported $3.9 billion in revenue, down 2 % YoY, with supplies revenue declining 3 %.
Free cash flow for the quarter was $1.6 billion. HP returned $574 million to shareholders, comprising $300 million of share repurchases and $274 million of dividends. The company ended the quarter with $4.2 billion of gross cash.
Despite the earnings beat, HP shares dropped more than 9 % in after‑hours trading on Wednesday, as investors took profits after an 18.5 % price gain over the preceding month.