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HP Inc. Announces Fiscal 2019 Financial Outlook

Estimates fiscal 2019 free cash flow of at least $3.7 billion.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

At HP’s 2018 Securities Analyst Meeting, the company provided details on its strategy and opportunities for long-term growth, along with its financial outlook for fiscal 2019.
 
“We continue to deliver strong growth in earnings and cash flow while taking profitable share with breakthrough innovation and operational excellence,” said Dion Weisler, president and CEO, HP Inc. “I’m enormously proud of what we have accomplished in the last 12 months. We continued to showcase our ability to reinvent the core, make progress against our growth initiatives, and lay the foundation for our future.”
 
For fiscal 2019, the company estimates GAAP diluted net EPS to be in the range of $2.04 to $2.14 and estimates non-GAAP diluted net EPS to be in the range of $2.12 to $2.22. Fiscal 2019 non-GAAP diluted net EPS estimates exclude restructuring and other charges, acquisition-related charges, defined benefit plan settlement charges, amortization of intangible assets, non-operating retirement-related credits/(charges), tax adjustments and the related tax impact on these items.
 
Based on the current environment, HP anticipates generating free cash flow of at least $3.7 billion for fiscal 2019.
 
Long-term, HP expects to return 50%-75% of annual free cash flow to shareholders. In fiscal 2019, the company indicated that it expects to return approximately 75% of free cash flow, with a 15% increase in the planned quarterly dividend amount, and the balance returned to shareholders through share repurchases.
 
“FY18 has been a strong year for HP,” said CFO Steve Fieler. “In FY19 we will continue to execute against our core, growth and future strategy, driving productivity improvements, and investing for the future to maximize shareholder value over the long term.” 

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