HP Reports 2026 Third Quarter Results

HP Inc. announced fiscal 2026 third quarter net revenue of $15.7 billion, up 12.5% (up 10.9% in constant currency) from the prior-year period.

“In the third quarter we increased both total sales and share in premium products and continued to attract new customers with innovations in WXP, Print, workstations, and AI PCs. Our ongoing strategy to address environmental constraints led to meaningful improvements in memory supply and higher fulfillment rates,” said Bruce Broussard, Interim CEO, HP Inc. “The strong foundation we are building as a trusted edge platform positions us well to lead as AI evolves and allows us to help customers improve their AI economics, security, latency and governance.”

Personal Systems net revenue was $11.8 billion, up 18% year over year (up 17% in constant currency) with a 4.6% operating margin. 

Consumer PS net revenue was up 10%, and Commercial PS net revenue was up 22%. Total units were down 16%, with Consumer PS units down 19% and Commercial PS units down 14%.

Printing net revenue was $3.9 billion, down 2% year over year (down 4% in constant currency), with an 18.1% operating margin. Consumer Printing net revenue was down 2%, and Commercial Printing net revenue was down 1%. 

Supplies net revenue was down 3% (down 4% in constant currency). Total hardware units were down 7%, with Consumer Printing units down 9% and Commercial Printing units down 2%.

“We delivered another strong quarter, with record third quarter revenue, EPS above the top of our guidance range, and are raising our guidance for FY26,” said Karen Parkhill, CFO, HP Inc. “With three solid quarters behind us, we’ve demonstrated our ability to navigate through a challenging cost environment and are building on that momentum to further mitigate near-term cost pressures while continuing to invest for long-term profitable growth.”

For fiscal 2026, HP is raising its estimate of GAAP diluted net EPS to be in the range of $2.52 to $2.62 and raising its estimate of non-GAAP diluted net EPS to be in the range of $3.19 to $3.29, with both including a $0.19 favorable impact from estimated tariff refunds. HP is also raising its estimate of free cash flow to be in the range of $3.0 to $3.2 billion.