8-KEarnings & ResultsExhibits & Filings

INTUIT INC. 8-K Report, Financial Results (Feb 9, 2018)

Filed February 9, 2018For Securities:INTU

Summary

Intuit Inc. (INTU) filed an 8-K on February 9, 2018, to announce updates to its financial outlook. For the quarter ended January 31, 2018, the company indicated a delayed start to the tax season. However, importantly for investors, Intuit raised its full-year earnings per share (EPS) guidance for fiscal year 2018, primarily driven by the impact of new U.S. tax legislation. The company also reiterated its previously issued full-year revenue and operating income guidance for FY18. This filing suggests that while the tax season's initial performance faced headwinds, the broader impact of tax reform is expected to be a net positive for Intuit's profitability on a full-year basis. Investors should note that the detailed financial results for the quarter are not provided in this 8-K, but rather are referenced through an attached press release. The company also clarified that this information is furnished and not deemed "filed" under the Exchange Act, which has implications for liability under Section 18.

Key Highlights

  • 1Raised full-year EPS guidance for fiscal year 2018.
  • 2Full-year revenue and operating income guidance for FY18 were reiterated.
  • 3Cited new U.S. tax legislation as a driver for increased EPS guidance.
  • 4Noted a late start to the tax season impacting the quarter ended January 31, 2018.
  • 5The report includes a press release detailing the financial outlook update.
  • 6Information furnished is not considered 'filed' for purposes of Section 18 of the Exchange Act.

Frequently Asked Questions

The primary reason for the updated outlook is the impact of new U.S. tax legislation, which has led Intuit to raise its full-year earnings per share (EPS) guidance. Additionally, a late start to the tax season affected the quarter ended January 31, 2018.

No, Intuit reiterated its previously issued full-year revenue and operating income guidance for fiscal year 2018, indicating these metrics are expected to remain in line with prior expectations.

More details are available in the press release issued on February 9, 2018, which is attached as Exhibit 99.01 to this 8-K filing.

When information is furnished, it is provided to the SEC but is not subject to the same liability provisions under Section 18 of the Securities Exchange Act of 1934 as information that is formally 'filed'. This means investors have fewer legal recourse options if the furnished information turns out to be inaccurate, compared to filed information.