HP Inc. - HPQ STOCK NEWS

HP Inc. unveiled the HP LaserJet Enterprise 400 Series at its annual HP Reinvent event on September 16, 2020. This new series is designed for remote and hybrid workforces, featuring advanced security and remote management capabilities. With 72% of office workers favoring remote work post-pandemic, the series addresses the growing need for secure, flexible printing solutions. The LaserJet series will be available worldwide starting in December, alongside the new FutureSmart 5 firmware aimed at enhancing operational security.

HP Inc. announced new devices and solutions at its annual HP Reinvent event, focusing on enabling productivity and collaboration in hybrid work environments. The press release highlighted the launch of the HP ProBook 635 Aero G7, lightweight with long battery life, and PCs built with sustainability in mind. The HP Business Boost program aims to assist small to mid-sized businesses in managing remote workforces. New monitors, including the HP E24d and E27d, enhance virtual collaboration. Pricing for various products starts from $649, with availability set for October and November 2020.

HP Inc. (NYSE: HPQ) announced the appointment of Marie Myers as acting Chief Financial Officer (CFO) effective October 1, 2020, following the departure of Steve Fieler. Myers, who has over 20 years of financial experience at HP, is currently the Chief Transformation Officer and will continue in that role during the transition. The company will initiate a search for a permanent CFO. CEO Enrique Lores praised Fieler's contributions, highlighting the value created for shareholders. Myers' leadership is expected to enhance efficiency and support HP's corporate strategy.

HP Inc. has introduced its new DesignJet portfolio, targeting construction ecosystem professionals with a focus on efficiency and sustainability. The series includes the T200, T600, and Studio Printer, featuring one-click printing via HP Click and automatic multi-size project handling. Notably, these printers are the world's first net carbon neutral large-format printers, constructed with up to 30% recycled plastic. They aim to cut carbon emissions by 7.3 tons annually, highlighting HP's commitment to sustainability while delivering quality prints at a low cost.

HP Inc. is expanding its partnership with Historically Black Colleges and Universities (HBCUs) by providing support during COVID-19 and launching a pilot learning program focused on 3D printing at North Carolina A&T State University. This initiative aims to help students tackle real business problems, gain industry experience, and enhance job opportunities. Over the past three years, participation in HP’s challenges involved nearly 300 students from 44 HBCUs, with many securing positions at HP. HP is committed to increasing diversity within the tech workforce and has set targets for hiring more Black executives by 2025.

HP Inc. has announced new products in its Z by HP portfolio, aimed at professional creators and power users. Key highlights include the ZCentral 4R, the world’s most powerful 1U rack workstation, designed for remote performance and expansion, and the new Z2 G5 desktops, offering enhanced performance and expandability. The ZBook lineup introduces powerful mobile workstations for creators on the move. The products, available starting in September 2020, cater to the growing demand for remote work technologies, with pricing for the ZCentral 4R starting at $2,099 and other models ranging from $849 to $2,039.

HP Inc. (NYSE: HPQ) and ePac are advancing in the flexible packaging market with the installation of 26 HP Indigo 25K Digital Presses, aimed to enhance market access for small and medium businesses. ePac's revenue is projected to exceed $100 million in 2020, bolstered by rapid expansion across North America, Europe, and Asia Pacific. The new installations will increase ePac's global fleet to 76 presses, improving production efficiency while minimizing environmental impact. This collaboration emphasizes innovation and local service delivery, positioning ePac as a disruptive force in the industry.

HP (NYSE: HPQ) reported its fiscal Q3 2020 results with a net revenue of $14.3 billion, a 2.1% decline year-over-year. GAAP diluted EPS was $0.52, down 33.3% from $0.78 in Q3 FY19, but above the forecast of $0.35 to $0.41. Non-GAAP diluted EPS also fell to $0.49 from $0.58, exceeding the expected range of $0.39 to $0.45. HP returned $1.2 billion to shareholders through share repurchases and dividends, with a strong cash flow of $1.6 billion. The outlook for Q4 estimates GAAP diluted EPS between $0.32 to $0.36.

HP Inc. (NYSE: HPQ) will host a live audio webcast on August 27, 2020, at 4:30 p.m. ET to discuss its financial results for the third fiscal quarter ended July 31, 2020. Interested parties can access the webcast at www.hp.com/investor/2020Q3Webcast, and a replay will be available for one year post-call.

HP Inc. focuses on creating technology that enhances life through its diverse range of products and services, including personal systems and 3D printing solutions.