HP (HPQ) Q3 FY2026 Earnings Call: Guidance and Outlook
HP provided formal guidance for the fourth quarter and raised its full-year outlook for earnings per share and free cash flow.
About HP. HP Inc. is a global technology company specializing in personal computing devices, imaging and printing solutions, and a variety of related technologies, software, and support services, serving clients both in the United States and worldwide. Its operations are structured into three main divisions: Personal Systems, Printing, and Corporate Investments.
Call date
Sentiment score
+25 Balanced
Management tone, -100 to +100
Sentiment change
0
vs Q2 FY2026 call
Sector
Information Technology, Technology Hardware, Storage and Peripherals
$0.69 to $0.79, including an $0.08 favorable impact from estimated tariff refunds.
Annual guidance
Diluted net EPS
$319 to $329, including a $0.19 favorable impact from estimated tariff refunds.
Free cash flow
$3 billion to $3.2 billion.
Outlook
PC Unit TAM
Industry experts project the PC unit TAM to decline high teens year-over-year for the second half of the calendar year.
Input Costs
Memory and storage costs are expected to increase further as a percentage of the bill of materials in Q4, with costs continuing to rise in fiscal 2027 but at a slower rate.
Print Hardware Market
Industry expectations point to a mid-single-digit decline in the hardware market in the second half of the calendar year.
Supplies Revenue
Supplies revenue is expected to decline low single digits in constant currency for fiscal 2026, consistent with long-term views.
Dombey's summary of the HP Q3 FY2026 earnings call held Aug 26, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
