HP Inc. reported third quarter 2026 results that exceeded expectations, driven by significant growth in its Personal Systems segment despite continued headwinds in Printing hardware units. The company delivered record third quarter revenue and raised its full-year earnings and free cash flow outlook.
Key Highlights
- Personal Systems revenue climbed 18% year-over-year to $11.8 billion, with Commercial PS revenue surging 22% as the Windows 11 refresh cycle accelerated.
- Non-GAAP diluted EPS of $0.83 outperformed the estimate of $0.66, inclusive of a $0.11 favorable impact from one-time tariff refunds.
- Management raised fiscal year 2026 non-GAAP EPS guidance to a range of $3.19 to $3.29 and increased its free cash flow outlook to $3.0–$3.2 billion.
- Printing net revenue declined 2% to $3.9 billion, as total hardware units fell 7% year-over-year, though operating margins in the segment remained strong at 18.1%.