HP Inc. (NYSE:HPQ) Q4 2022 Earnings Call Transcript

Enrique Lores : Sure. So let me start with a minus 10%. The minus 10% is what we expect the unit decline to be during our fiscal year that goes from November ’22 to November ’23. We are using that number because we think it’s more relevant to understand the guide that we provided today. Marie?

Marie Myers : Yes. And just on the second half, just bear in mind that not only the channel inventory will be in better shape, but we also will see the impact of the Future Ready Transformation program. So we’ll expect to see those gross run rate structural savings that I mentioned about $560 million kick in, in the back half as well. So that’s another driver along with — we should see supply chain improved, particularly in print and high-end PCs. And I’d just add that at the high end of the guide, the upside is really coming from a better macro, but we’re not counting on it. So that’s what could drive us to the high end of the range.

Enrique Lores : Thank you, everybody, for joining the call today. But you can see that we are taking the actions under our control to manage the situation and to improve the situation. Clearly, we know that we need to both continue to reduce our cost structure, but also to invest for the future of the company because I don’t think anybody can predict when the rebound of the economy will happen. But what we want to make sure is that we have a stronger HP when this happened, so we can take advantage of that. So really thank you, everybody, for joining. And Happy Thanksgiving for those of you in the U.S. Thank you.

Operator: This concludes today’s conference call. Thank you for attending. You may now disconnect.