Summary of HP Inc. Conference Call Company Overview - **Company**: HP Inc. (NYSE: HPQ) - **Event**: Morgan Stanley Technology, Media & Telecom Conference - **Date**: March 6, 2023 - **Participants**: Enrique Lores (President and CEO), Eric Woodring (Morgan Stanley Analyst) Key Points Demand Landscape - **Consumer Demand**: Weak demand continues in the consumer segment, a trend that started mid-last year and persists into 2023 [5] - **Enterprise Demand**: Notable weakening in enterprise demand due to corporations adopting a more conservative approach to budgeting and hiring [5][8] - **Inventory Situation**: High inventory levels in the PC industry have been reduced, expected to continue for at least another quarter, impacting unit sales [6] Macro and Micro Environment - **Macro Concerns**: Corporations are cautious about the economic environment, leading to conservative budget management [8] - **Micro Opportunities**: Hybrid work is becoming prevalent, presenting medium to long-term growth opportunities for HP as companies invest in home and office equipment [9] PC Market Insights - **Market Guidance**: HP expects PC market units to decline in the high teens for fiscal 2023, with no recovery anticipated this year due to ongoing uncertainty [10][11] - **Channel Inventory**: Elevated channel inventory is affecting both consumer and commercial segments, but sell-through to real customers is stronger than sell-in [12] - **Second Half Outlook**: Anticipation of stronger performance in the second half of the year due to channel inventory correction and seasonal trends [16] Long-term Market Potential - **PC Total Addressable Market (TAM)**: Factors such as demographics, hybrid work, and an increased installed base suggest that the post-COVID PC TAM could be larger than pre-COVID levels [20][21] - **Average Selling Prices (ASPs)**: ASPs are expected to remain higher than pre-COVID levels due to richer configurations and increased demand for better specifications [24][25] Printing Business - **Market Resilience**: The printing market has shown more stability compared to PCs, with specific segments like graphics continuing to grow [32] - **Business Model Transition**: HP is shifting from transactional supplies to subscription models (HP Plus, Instant Ink), with 56% of print shipments now in these categories [34][36] - **Operating Margins**: Print operating margins remain strong, above the long-term guidance of 16% to 18%, driven by changes in business model and cost structure improvements [42][43] Future Ready Initiative - **Cost Savings**: HP is focusing on simplifying its portfolio, enhancing digital transformation, and improving operational efficiency to drive cost savings [45][46][47] - **Investment in Growth**: Savings will be reinvested in growth areas, particularly in hybrid systems and solutions/services [48] Free Cash Flow Guidance - **Fiscal 2023 Guidance**: HP reiterated its free cash flow guidance of $3 billion to $3.5 billion, with expectations for stronger performance in the second half of the year [50] Company Valuation - **Undervalued Shares**: HP believes its shares are undervalued, with a history of growing revenue, operating profit, and free cash flow [52][54] - **Investor-Friendly Approach**: HP has a track record of returning 100% of free cash flow to investors and maintaining a healthy leverage ratio [54] Additional Insights - **Poly Acquisition**: Integration of Poly is progressing well, with positive market reactions and long-term growth potential in video conferencing [27][28] - **Hybrid Work Trends**: The shift towards hybrid work is expected to drive demand for better communication tools and devices [20][21] This summary encapsulates the key insights and strategic outlook for HP Inc. as discussed during the conference call.

HP Inc. (NYSE:HPQ) Q1 2023 Earnings Conference Call February 28, 2023 5:00 PM ET Company Participants Orit Keinan-Nahon - Head of Investor Relations Enrique Lores - President and Chief Executive Officer Marie Myers - Chief Financial Officer Conference Call Participants Shannon Cross - Credit Suisse AG Erik Woodring - Morgan Stanley Ananda Baruah - Loop Capital Markets LLC David Vogt - UBS Toni Sacconaghi - Sanford C. Bernstein & Co. Sidney Ho - Deutsche Bank AG James Suva - Citigroup Inc. Operator Good day, ...

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Use these links to rapidly review the document Table of Contents Part I. Financial Information UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4423 HP Inc. (Exact name of registrant as specified in its charter) Delaware 94-1081436 (State or other jurisdiction of incorporation or ...

HP Inc. (NYSE:HPQ) 6th Annual Wells Fargo TMT Summit December 1, 2022 11:40 AM ET Company Participants Andy Rhodes - General Manager and Global Head of Commercial Systems Conference Call Participants Aaron Rakers - Wells Fargo Aaron Rakers All right. So why don't we get started here. I'm Aaron Rakers. I'm the hardware analyst here at Wells Fargo. I'm pleased to host a discussion with Andy Rhodes, the General Manager of the peripherals business with the HPQ. So Andy, first of all, thanks for joining us. Mayb ...

HP Inc. (NYSE:HPQ) Credit Suisse 26th Annual Technology Conference November 30, 2022 10:15 AM ET Company Participants Marie Myers - Chief Financial Officer Conference Call Participants Shannon Cross - Credit Suisse Shannon Cross Okay, everyone. Thank you for joining us. My name is Shannon Cross, and I'm the IT Hardware analyst, here at Credit Suisse. And I'm now joined by the CFO of HP, Marie Myers. Prior to getting started and in preparation for my future IR career, HP has asked me to read the following. T ...

HP Inc. (NYSE:HPQ) Q4 2022 Earnings Conference Call November 22, 2022 5:00 PM ET Company Participants Orit Keinan-Nahon - Head, Investor Relations Enrique Lores - President & Chief Executive Officer Marie Myers - Chief Financial Officer Conference Call Participants Amit Daryanani - Evercore ISI Shannon Cross - Credit Suisse Toni Sacconaghi - Sanford C. Bernstein Aaron Rakers - Wells Fargo Erik Woodring - Morgan Stanley Ruplu Bhattacharya - Bank of America Krish Sankar - Cowen and Company Operator Good d ...

HP Inc. (NYSE:HPQ) 2022 Citigroup Global Technology Conference Call September 8, 2022 8:15 AM ET Company Participants Enrique Lores - President & Chief Executive Officer Conference Call Participants Jim Suva - Citigroup Jim Suva Citigroup Global Technology Conference Day Number 2 here live in New York City. It's great to see you all in person and for all the people who are attending. Attendance is off the charts and we're so glad to be back in person. This session fireside chat is with HP Inc. stock ticker, ...