Intuit reaffirms FY2023 guidance; expects Q1 results above prior range

INTUIT INC.

2023-Q1 EPS reported $0.14 revenue$2,597,000,000

Reiterates FY2023 GAAP operating income $2.794B-$2.899B; non-GAAP $5.258B-$5.363B.
Reiterates FY2023 GAAP diluted EPS $6.92-$7.22; non-GAAP $13.59-$13.89.
Expects Q1 FY2023 revenue growth ~23-25%, non-GAAP op income $469M-$489M, above prior guidance.
Credit Karma continued to deteriorate from macro headwinds; all verticals impacted.
Full company revenue guidance to be updated on Q1 earnings call Nov 29.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTUIT INC. reported the full fiscal year 2023 (ending July 31, 2023) results: EPS GAAP diluted earnings per share of $6.92 to $7.22; Non-GAAP diluted earnings per share of $13.59 to $13.89. Guidance reaffirmed.

Period: the full fiscal year 2023 (ending July 31, 2023)
EPS: GAAP diluted earnings per share of $6.92 to $7.22; Non-GAAP diluted earnings per share of $13.59 to $13.89
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Intuit also reiterated GAAP and non-GAAP operating income and earnings per share guidance for the full fiscal year 2023, previously reiterated on September 29, 2022. The company plans to update Credit Karma and full company revenue guidance for full year fiscal 2023 on its first quarter earnings conference call on November 29, 2022. The company expects: • GAAP operating income of $2.794 billion to $2.899 billion, growth of approximately 9 to 13 percent. • Non-GAAP operating income of $5.258 billion to $5.363 billion, growth of approximately 17 to 19 percent. • GAAP diluted earnings per share of $6.92 to $7.22, a decline of approximately 5 to 1 percent. • Non-GAAP diluted earnings per share of $13.59 to $13.89, growth of approximately 15 to 17 percent.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTUIT INC. reported first quarter of fiscal 2023 results: EPS GAAP loss per share of $0.43 to $0.37; Non-GAAP diluted earnings per share of $1.14 to $1.20. Guidance raised.

Period: first quarter of fiscal 2023
EPS: GAAP loss per share of $0.43 to $0.37; Non-GAAP diluted earnings per share of $1.14 to $1.20
Guidance: raised
Result: guidance update

Exact text from the filing

Intuit expects to report results for the first-quarter fiscal 2023 above guidance previously reiterated on September 29, 2022, which was: • Revenue growth of approximately 23 to 25 percent, including Mailchimp. • GAAP operating loss of $125 million to $105 million. • Non-GAAP operating income of $469 million to $489 million. • GAAP loss per share of $0.43 to $0.37. • Non-GAAP diluted earnings per share of $1.14 to $1.20.

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Source: SEC EDGAR

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