HP Q3 10-Q: $539M Restructuring Charges, $127M Tariff Refunds, Autonomy Appeal Denied
HPQ sits 68% above its 52-week low of $17.56.
Summary
HP's Q3 10-Q confirms the earnings beat but reveals $539M in restructuring charges, $127M in tariff refunds received, and a favorable Autonomy appeal ruling. The stock already dropped 10% on guidance concerns.
Key Events · Earnings and Guidance · HPQ
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Q3 Revenue Up 12.5%, EPS $0.71
Net revenue of $15.7B (up 12.5% YoY) with diluted EPS of $0.71, driven by Personal Systems ASP increases of 40.8% offsetting a 15.8% decline in PC unit volume.
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$539M Restructuring Charges
Nine-month restructuring charges of $539M include a $280M non-cash Special Termination Benefit for the Enhanced Early Retirement program and $200M in severance under the Fiscal 2026 Plan targeting 4,000-6,000 headcount reductions.
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$127M Tariff Refunds Received
HP received $127M in IEEPA tariff refunds during Q3 and $91M subsequent to period end, with approximately $0.3B total applied for recovery; refunds reduce Products cost of net revenue.
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Autonomy Appeal Denied
On August 25, 2026, the Court of Appeal denied the Lynch estate's request to appeal most issues, leaving the $1.24B damages judgment largely intact; HP and HPE will share equally in any recovery.
Analysis · HPQ · Technology
HP's 10-Q confirms the Q3 beat already reported in the 8-K but adds material detail that changes the picture. The company booked $539 million in restructuring charges for the nine months, including a $280 million non-cash Special Termination Benefit tied to the voluntary early retirement program — a large one-time hit that explains part of the margin compression. On the positive side, HP has recovered $127 million of IEEPA tariff refunds with another $91 million received after quarter-end, and the Autonomy litigation's $1.24 billion judgment now looks more secure after the Court of Appeal denied the Lynch estate's appeal on most issues. The stock fell 10% after the 8-K on guidance concerns, and this filing shows the cost side of the story — higher commodity costs, restructuring, and a shrinking PC market — alongside the tariff and litigation tailwinds.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, HPQ was trading at $29.51 on NYSE in the Technology sector, with a market capitalization of approximately $27B. The 52-week trading range was $17.56 to $32.19. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.