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HP Inc. Announces Leadership Transition
Globenewswire· 2026-02-03 11:59
Core Viewpoint - HP Inc. has appointed Bruce Broussard as Interim CEO following the resignation of Enrique Lores, who is leaving to pursue other opportunities. The company is reaffirming its financial outlook for the first quarter and fiscal year 2026 [1][4]. Leadership Transition - Bruce Broussard, a Board member since 2021, will leverage his extensive experience in operational and financial management to advance HP's strategic priorities [2]. - Enrique Lores has served as CEO for the past seven years and has been instrumental in guiding HP through its transformation into an AI-driven technology company [3]. Strategic Direction - The company aims to lead the Future of Work, focusing on operational excellence and shareholder value creation [3]. - Broussard expressed commitment to driving strategic progress and maintaining stability during the CEO search process [3]. Financial Outlook - For the first quarter of fiscal 2026, HP expects GAAP diluted net EPS to be in the range of $0.58 to $0.66 and non-GAAP diluted net EPS to be between $0.73 and $0.81 [4]. - For the full fiscal year 2026, HP anticipates GAAP diluted net EPS between $2.47 and $2.77, and non-GAAP diluted net EPS in the range of $2.90 to $3.20 [5][6]. - The company projects free cash flow for fiscal 2026 to be between $2.8 billion and $3.0 billion, reflecting the impact of U.S. trade-related regulations [6]. Upcoming Events - HP will hold a live audio webcast on February 24, 2026, to review financial results for the first fiscal quarter ended January 31, 2026 [7]. Company Overview - HP Inc. operates in over 180 countries, delivering innovative and AI-powered devices, software, services, and subscriptions aimed at driving business growth and professional fulfillment [8].