HP Backs FY21 Profit Outlook; Sees FY22 Profit Above View

(RTTNews) - Technology company HP Inc. (HPQ) reiterated its fiscal 2021 financial outlook, and provided financial outlook for fiscal 2022.

For fiscal 2021, the company still expects earnings per share in the range of $3.56 to $3.62 and and adjusted earnings per share between $3.69 and $3.75. Analysts polled by Thomson Reuters expect the company to report earnings of $3.73 per share for fiscal year 2021. Analysts' estimates typically exclude special items. For fiscal 2022, the company expects net earnings per share to be in the range of $3.86 to $4.06 and non-GAAP net earnings per share of $4.07 to $4.27. Analysts expect annual earnings of $3.78 per share.

Based on the current environment, HP anticipates generating free cash flow of at least $4.5 billion for fiscal 2022.

For fiscal 2022, the company indicated that it expects to return at least 100% of free cash flow through dividends and share repurchases.

The company's board has approved an increase to the planned annual dividend amount to $1.00 per share, reflecting an about 29% increase from the prior dividend.