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HP expects non-GAAP earnings per share between 89 cents and 99 cents for the fourth quarter of fiscal 2024. The Zacks Consensus Estimate for earnings is pegged at 93 cents, indicating a year-over-year rise of 3.3%.
The Zacks Consensus Estimate for revenues is pegged at $13.96 billion, suggesting an improvement of 1% from the prior-year quarter.
In the trailing four quarters, HPQ’s earnings surpassed the Zacks Consensus Estimate once, matched twice and missed once, with the average negative surprise being 0.6%.
HP’s overall fourth-quarter fiscal 2024 performance is likely to have been driven by its strong momentum across the Personal Systems, slightly offset by softness in the Printing division.
Strength in the AI PC category, on the back of modern technological innovations and seamless customer experiences, is likely to have boosted the top-line growth for the fourth quarter of fiscal 2024.
HPQ’s latest introduction of the first HP OmniBook Ultra, the world’s highest-performance AI PC with up to an industry-leading 55 TOPS of Neural Processing Unit performance and the capabilities of HP Wolf Security, takes AI leadership to the next level.
Growing adoption of gaming experiences by customers is likely to have aided the fourth-quarter performance positively. The latest gaming gear from OMEN and HyperX elevates customization, enabling gamers to fine-tune their aesthetics and make sure their desktops are future-ready with OMEN components.
However, macroeconomic challenges like still-high interest rates and protracted inflationary conditions are expected to have negatively impacted the demand for HPQ’s consumer PCs. Furthermore, enterprises are postponing their large IT spending plans due to the weakening global economy amid ongoing macroeconomic and geopolitical issues. This might have hurt HP’s commercial PC sales in the to-be-reported quarter
The Zacks Consensus Estimate for the Personal Systems segment’s fourth-quarter revenues is pegged at $9.71 billion, indicating a year-over-year increase of 3.3%.
HP’s Printing division’s sales are likely to have been affected by softened consumer demand in China and an aggressive pricing environment, partially offset by growth in big tank printers. The consensus mark for the Printing segment’s fourth-quarter revenues is pegged at $4.25 billion, suggesting a year-over-year decline of 3.9%.
What Our Proven Model Says for HPQ’s Q4 Earnings
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
HP has an Earnings ESP of 0.00% and carries a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
It is set to report third-quarter results on Dec. 5. The Zacks Consensus Estimate for RBRK’s third-quarter fiscal 2025 loss per share is pegged at 40 cents, unchanged over the past 60 days. RBRK shares have risen 32.8% year to date.
Pure Storage (PSTG - Free Report) has an Earnings ESP of +2.98% and carries a Zacks Rank #3 at present.
It is set to report third-quarter fiscal 2025 results on Dec. 3. The Zacks Consensus Estimate for PSTG’s third-quarter fiscal 2025 earnings is pegged at 43 cents per share, unchanged over the past 60 days, indicating a loss of 14% from the year-ago quarter’s reported figure. PSTG shares have gained 44.6% year to date.
Hewlett Packard (HPE - Free Report) has an Earnings ESP of +1.51% and carries a Zacks Rank #3 at present.
It is set to report fourth-quarter results on Dec. 5. The Zacks Consensus Estimate for HPE’s fourth-quarter 2024 earnings is pegged at 55 cents per share, unchanged over the past 60 days, indicating an improvement of 5.8% from the year-ago quarter’s reported figure. HPE shares have surged 28.1% year to date.
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HPQ Set to Report Q4 Earnings: What's in Store for the Stock?
HP (HPQ - Free Report) is scheduled to report fourth-quarter fiscal 2024 on Nov. 26.
HP expects non-GAAP earnings per share between 89 cents and 99 cents for the fourth quarter of fiscal 2024. The Zacks Consensus Estimate for earnings is pegged at 93 cents, indicating a year-over-year rise of 3.3%.
The Zacks Consensus Estimate for revenues is pegged at $13.96 billion, suggesting an improvement of 1% from the prior-year quarter.
In the trailing four quarters, HPQ’s earnings surpassed the Zacks Consensus Estimate once, matched twice and missed once, with the average negative surprise being 0.6%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Factors to Consider for HPQ
HP’s overall fourth-quarter fiscal 2024 performance is likely to have been driven by its strong momentum across the Personal Systems, slightly offset by softness in the Printing division.
Strength in the AI PC category, on the back of modern technological innovations and seamless customer experiences, is likely to have boosted the top-line growth for the fourth quarter of fiscal 2024.
HPQ’s latest introduction of the first HP OmniBook Ultra, the world’s highest-performance AI PC with up to an industry-leading 55 TOPS of Neural Processing Unit performance and the capabilities of HP Wolf Security, takes AI leadership to the next level.
HP Inc. Price and EPS Surprise
HP Inc. price-eps-surprise | HP Inc. Quote
Growing adoption of gaming experiences by customers is likely to have aided the fourth-quarter performance positively. The latest gaming gear from OMEN and HyperX elevates customization, enabling gamers to fine-tune their aesthetics and make sure their desktops are future-ready with OMEN components.
However, macroeconomic challenges like still-high interest rates and protracted inflationary conditions are expected to have negatively impacted the demand for HPQ’s consumer PCs. Furthermore, enterprises are postponing their large IT spending plans due to the weakening global economy amid ongoing macroeconomic and geopolitical issues. This might have hurt HP’s commercial PC sales in the to-be-reported quarter
The Zacks Consensus Estimate for the Personal Systems segment’s fourth-quarter revenues is pegged at $9.71 billion, indicating a year-over-year increase of 3.3%.
HP’s Printing division’s sales are likely to have been affected by softened consumer demand in China and an aggressive pricing environment, partially offset by growth in big tank printers. The consensus mark for the Printing segment’s fourth-quarter revenues is pegged at $4.25 billion, suggesting a year-over-year decline of 3.9%.
What Our Proven Model Says for HPQ’s Q4 Earnings
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
HP has an Earnings ESP of 0.00% and carries a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Rubrik (RBRK - Free Report) has an Earnings ESP of +0.42% and carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
It is set to report third-quarter results on Dec. 5. The Zacks Consensus Estimate for RBRK’s third-quarter fiscal 2025 loss per share is pegged at 40 cents, unchanged over the past 60 days. RBRK shares have risen 32.8% year to date.
Pure Storage (PSTG - Free Report) has an Earnings ESP of +2.98% and carries a Zacks Rank #3 at present.
It is set to report third-quarter fiscal 2025 results on Dec. 3. The Zacks Consensus Estimate for PSTG’s third-quarter fiscal 2025 earnings is pegged at 43 cents per share, unchanged over the past 60 days, indicating a loss of 14% from the year-ago quarter’s reported figure. PSTG shares have gained 44.6% year to date.
Hewlett Packard (HPE - Free Report) has an Earnings ESP of +1.51% and carries a Zacks Rank #3 at present.
It is set to report fourth-quarter results on Dec. 5. The Zacks Consensus Estimate for HPE’s fourth-quarter 2024 earnings is pegged at 55 cents per share, unchanged over the past 60 days, indicating an improvement of 5.8% from the year-ago quarter’s reported figure. HPE shares have surged 28.1% year to date.