HP Inc.

Good day, everyone, and welcome to the third quarter 2019 HP Incorporated earnings conference call. My name is Sean, and I will be your conference moderator for today's call. At this time, all participants will be in a listen-only mode. We will be facilitating a question and answer session during the end of the conference. Should you need assistance during the call, please signal a conference specialist by pressing the star key followed by zero. As a reminder, this conference is being recorded for replay purposes. I would now like to turn the call over to Beth Howe, Head of Investor Relations. Please go ahead.

Good afternoon. I'm Beth Howe, Head of Investor Relations for HP, Inc., and I'd like to welcome you to the Fiscal 2019 Third Quarter Earnings Conference Call with Dion Weisler, HP's President and Chief Executive Officer, Steve Feiler, HP's Chief Financial Officer, and Enrique Lores, HP's President of Imaging and Printing. Before handing the call over to Dion, let me remind you that this call is being webcast. A replay of the webcast will be made available on our website shortly after the call for approximately one year. We posted the earnings release and the accompanying slide presentation on our Investor Relations webpage at investor.hp.com. As always, Elements of this presentation are forward-looking and are based on our best view of the world and our businesses as we see them today. For more detailed information, please see disclaimers in the earnings materials related to forward-looking statements that involve risks, uncertainties, and assumptions. For discussion of some of these risks, uncertainties, and assumptions, please refer to HP's SEC reports, including our most recent Form 10-K and Form 10-Q. HP assumes no obligation and does not intend to update any such forward-looking statements. We also note that the financial information discussed on this call reflects the estimates based on information available now and could differ materially from the amounts ultimately reported on HP's Form 10-Q for the fiscal quarter ended July 31, 2019 and HP's other SEC filings. During this webcast, unless otherwise specifically noted, All comparisons are year-over-year comparisons with a corresponding year-ago period. For financial information that has been expressed on a non-GAAP basis, we've included reconciliations to the comparable GAAP information. Please refer to the tables and slide presentations accompanying today's earnings release for those reconciliations. And now I'll turn it over to Dion.

Thanks, Beth. Good afternoon, and thank you for joining us. We have a lot to talk about today. and I want to start with the topic that I'm sure is most on your minds. As you've seen, I will be stepping down as President and CEO of HP. This is a decision I made following a great deal of reflection, and it's among the hardest choices I've ever had to make. There is nothing more important to me than my family, and I'm making a personal decision to return to Australia to tend to a family health matter. Serving as CEO of this great company for the past four years and having the opportunity to work alongside a truly incredible team has been the honor of my career. I also feel privileged that we have such an incredibly strong bench of capable leaders and robust succession planning at every level of the organization. The HP board has had a rigorous succession planning process since day one of our company. And this process led the board to exactly the right leader to usher in the next era for HP. After a thorough review and careful consideration of a full bench of external and internal candidates, I rest easy knowing that the company I love is in the best of hands with Enrique as the next CEO. As you spend time with Enrique and get to know him as I have, you will see why he is uniquely positioned and exactly the right leader HP needs to build on the company's progress and capitalize on future opportunities. Enrique began his career 30 years ago as an HP intern and spent decades becoming one of the company's most accomplished, multifaceted leaders. From his engineering roots and expertise across the print, personal systems and service organisations to leadership roles at a country, region and worldwide level, Enrique is relentlessly dedicated to serving customers and partners and passionate about next generation innovation. Since I arrived at HP seven years ago, I've seen what Enrique is made of. He combines the strategic acuity and operational rigor needed to be a great executive with the passion for people and deep sense of purpose needed to be a trusted leader. I personally benefited immensely from his leadership during the separation of Hewlett Packard Company in 2015, when we spent many long days together setting HP on its current course. Enrique brought incredible vision to our separation management office and was a key architect of one of the largest and most complex corporate separations in business history. He then operationalized a strategy that transformed HP's cost structure while simplifying the organization and creating the capacity to invest in innovation and drive profitable growth. More recently, Enrique has led a comprehensive global review of HP's strategy and business operations, working directly with our board to define our future operating model and prioritise initiatives that maximise shareholder value. Just like at Separation, he's bringing incredible vision and energy to this work and I know it will open exciting new doors for our company. You'll no doubt be spending a lot of time with Enrique. but I invited him to our call today to say a few brief words before we dig into our Q3 results. Enrique?