8-KRegulation FDExhibits & Filings

INTERNATIONAL BUSINESS MACHINES CORP 8-K Report, Regulation FD Disclosure (Apr 17, 2019)

Filed April 17, 2019For Securities:IBM

Summary

This 8-K filing from IBM on April 17, 2019, primarily serves to furnish investors with materials related to their first-quarter 2019 earnings presentation. The key takeaway for investors is the provided forward-looking guidance and commentary from IBM's CFO, Jim Kavanaugh. This includes insights into expected revenue trends, earnings per share (EPS) projections for the second quarter and full year, and details regarding the financial impact of recent divestitures.

Key Highlights

  • 1The filing includes prepared remarks from IBM's CFO for the Q1 2019 earnings presentation.
  • 2Reconciliations of non-GAAP financial measures to GAAP are provided for investor clarity.
  • 3IBM anticipates a sequential revenue increase of approximately $900 million to $1 billion from Q1 to Q2 2019, consistent with prior years.
  • 4The company expects to achieve 22% of its full-year EPS expectations in Q2 2019, aligning with historical performance.
  • 5Expected gains from divestitures are projected to be between $500 million and $700 million.
  • 6IBM's Q2 2019 EPS guidance assumes the lower end of the divestiture gain range.
  • 7The company foresees minimal overall EPS impact from divestitures due to offsets from foregone profit, stranded costs, and restructuring actions.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with the prepared remarks and supplemental financial information from IBM's Q1 2019 earnings presentation, including forward-looking guidance.

IBM expects revenue dynamics from the first quarter to the second quarter of 2019 to be similar to the last two years, projecting a sequential increase of about $900 million to $1 billion.

IBM expects gains from divestitures between $500 million and $700 million. However, the company anticipates minimal overall impact on Q2 and full-year EPS. This is because the majority of any gains are expected to be offset by foregone profit, stranded costs associated with the divestitures, and other restructuring actions.

Investors can find detailed financial and other information on IBM's investor relations website at www.ibm.com/investor/, where information is updated regularly.