Slide 1: Q3 FY26 Earnings Announcement
Q3 FY26 Earnings Announcement Aug 26, 2026
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation contains forward-looking statements based on current expectations and assumptions that involve risks and uncertainties. If the risks or uncertainties ever materialize or the assumptions prove incorrect, they could affect the business and results of operat
Slide 3: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information HP has included non-GAAP financial measures in this presentation to supplement HP’s condensed consolidated financial statements presented on a generally accepted accounting principles (“GAAP”) basis. Definitions of these non- GAAP financial measures and reconcil
Slide 4: Q3 FY26 Highlights
Net revenue of $15.7B, up 12.5% from the prior-year period and up 10.9% in constant currency1 Non-GAAP diluted net earnings per share2 of $0.834, above the previously Q3 FY26 provided outlook of $0.61 to $0.71 per share Highlights GAAP diluted net earnings per share of $0.714, above the previously p
Slide 5: Q3 FY26 Mix by Segment and Region
Q3 FY26 Mix by Segment and Region Net revenue Non-GAAP operating profit2 Net revenue 1 3 By region By key segment and business unit By key segment Personal Systems Commercial Printing 55% Supplies 16% $1.2 billion AMERICAS EMEA APJ Printing 41% 33% 26% Commercial Printing 18.1% $15.7 7% 57% of total
Slide 6: Q3 FY26 Results Overview
Q3 FY26 Results Overview Growth Growth CC1 Non-GAAP Non-GAAP Non-GAAP Non-GAAP $ in millions Net revenue y/y % y/y % OP $3 OP % of rev3 OP $ y/y3 OP % of rev y/y3 Printing4 $3,912 (2.2)% (3.6)% $709 18.1% $28 1.1 pts Personal $11,767 18.5% 16.7% $537 4.6% $(4) (0.8) pts Systems Corporate Investments
Slide 7: Revenue & Non-GAAP Diluted Net EPS
Revenue & Non-GAAP Diluted Net EPS 2 Revenue (Billions) y/y growth (%) Non-GAAP diluted net EPS y/y growth (%) $20 40% $1.00 40% $0.93 $0.86 3 30% $0.81 $0.83 $15.7 $16 $0.75 $14.6 $14.4 $14.4 $13.9 $0.75 20% 20% 21.1% 12.5% $12 9.0% 6.9% 10% 9.5% 10.7% 3.1% 4.2% 10.9% $0.50 0% 5.2% 6.3% 3.3% 3.8% 0
Slide 8: Personal Systems Q3 FY26
Personal Systems Q3 FY26 Revenue Operating profit Revenue up 18% y/y driven by pricing actions to offset $537 18% y/y $11.8 commodity cost headwinds and increasing premium 4.6% share, partly offset by lower volumes. Strong performance in key growth areas, with double-digit y/y 1 17% y/y CC of revenu
Slide 9: Printing Q3 FY26
Printing Q3 FY26 2 Revenue Operating profit Revenue down 2%y/y driven on lower supplies volume (2)% y/y $3.9 $709 18.1% and hardware declines in part offset by key growth area contributions and share growth in Big Tanks. 1 Continued growth in Industrial Printing and 3D Printing. (4)% y/y CC of reven
Slide 10: The Trusted Edge AI Platform
The Trusted Edge AI Platform 10
Slide 11: Key Growth Areas
Key Growth Areas Collectively grew revenue strong double digit year over year AI PC Consumer Subscriptions AI PCs grew double-digit y/y, and continued to increase the Revenue grew y/y and subscribers to HP’s All-In-Plan, mix in the quarter. HP innovation is bringing cloud class AI launched only in t
Slide 12: Cash & Debt Balances
Cash & Debt Balances 1 Billions Net Cash (Debt) $4.0 $0.0 * $ Billions 3Q25 4Q25 1Q26 2Q26 3Q26 Gross cash2 2.9 3.7 3.2 3.7 4.2 $(4.0) Gross debt3 9.7 9.7 9.8 9.7 9.2 $(8.0) Net cash (debt)1,4 (6.8) (6.0) (6.6) (6.0) (5.0) * Debt paydown of $0.5B $(12.0) 3Q25 4Q25 1Q26 2Q26 3Q26 2 3 Gross cash Gross
Slide 13: Cash Flow & Shareholder Return
Cash Flow & Shareholder Return Millions Cash Flow Millions Shareholder Return Net cash provided by operations Free cash flow 1 Dividend payment Share repurchase $3,500 $3,500 $3,044 $3,000 $3,000 $2,523 $2,500 $2,500 $2,073 $2,000 $1,735 $2,000 $1,661 $1,568 $1,444 $1,469 $1,550 $1,500 $1,500 $1,168
Slide 14: Outlook
Outlook 4Q26 Guidance FY26 Guidance 4Q26 Assumptions GAAP diluted net EPS5 GAAP diluted net EPS5 Revenue PS below seasonal $0.74-$0.84 $2.52-$2.62 Print in-line with seasonal Non-GAAP diluted net EPS1,2,5 Non-GAAP diluted net EPS1,2,5 Corporate Other Expense $0.69-$0.79 $3.19-$3.29 In-line with 3Q F
Slide 15: Non-GAAP Financial Information
Non-GAAP1 Financial Information $ in millions, except Q3 FY26 Q2 FY26 Q3 FY25 per share amounts % of Revenue % of Revenue % of Revenue Revenue $15,677 $14,408 $13,932 Cost of revenue 12,732 81.2% 11,392 79.1% 11,081 79.5% Total OpEx 1,924 12.3% 1,941 13.4% 1,856 13.4% Operating profit $1,021 6.5% $1
Slide 16: Q3 FY26 GAAP to Non-GAAP Bridge
Q3 FY26 GAAP to Non-GAAP Bridge $ in millions, except Acquisition and Non-operating tax rate and per Amortization of Restructuring and divestiture Certain litigation retirement related Tax share amounts GAAP intangible assets other charges charges charges, net (credits) / charges adjustments Non-GAA
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Slide 18: Supplemental Slides
Supplemental Slides
Slide 19: Working Capital Metrics
Working Capital Metrics In Days 160 151 151 138 139 141 120 73 73 80 68 66 68 38 41 33 35 33 40 0 (37) (38) (40) (40) (37) (40) Jul25 Oct25 Jan26 Apr26 Jul26 Days receivable Days inventory Days payable Cash conversion cycle1 1. Cash conversion cycle = Days receivable + Days inventory – Days payable
Slide 20: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation $ in millions 3Q25 4Q25 FY25 1Q26 2Q26 3Q26 YTD26 Net cash provided by $1,661 $1,624 $3,697 $383 $926 $1,735 $3,044 operating activities Net investments in property, plant, equipment and (215) (197) (897) (233) (170) (187) (590) purchased intangibles Net investment in l
Slide 21: Q2 FY26 GAAP to Non-GAAP Bridge
Q2 FY26 GAAP to Non-GAAP Bridge $ in millions, except Acquisition and Non-operating tax rate and per Amortization of Restructuring and divestiture Certain litigation retirement related Tax share amounts GAAP intangible assets other charges charges charges, net (credits) / charges adjustments Non-GAA
Slide 22: Q1 FY26 GAAP to Non-GAAP Bridge
Q1 FY26 GAAP to Non-GAAP Bridge Acquisition and $ in millions, except divestiture Non-operating tax rate and per Amortization of Restructuring and (credits) Certain litigation retirement related Tax share amounts GAAP intangible assets other charges charges, net charges (credits) / charges adjustmen
Slide 23: FY25 GAAP to Non-GAAP Bridge
FY25 GAAP to Non-GAAP Bridge Non-operating Certain retirement $ in millions, except Amortization Restructuring Acquisition litigation related tax rate and per of intangible and other and divestiture charges (credits) / Tax share amounts GAAP assets charges charges (benefits), net charges adjustments
Slide 24: Q4 FY25 GAAP to Non-GAAP Bridge
Q4 FY25 GAAP to Non-GAAP Bridge $ in millions, except Acquisition and tax rate and per Amortization of Restructuring and divestiture Certain litigation Tax share amounts GAAP intangible assets other charges charges charges, net adjustments Non-GAAP Revenue $14,639 $14,639 Cost of revenue 11,677 11,6
Slide 25: Q3 FY25 GAAP to Non-GAAP Bridge
Q3 FY25 GAAP to Non-GAAP Bridge $ in millions, except Acquisition and Certain litigation Non-operating tax rate and per Amortization of Restructuring and divestiture (benefits) charges, retirement related Tax share amounts GAAP intangible assets other charges charges net (credits) / charges adjustme