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Intuit 8-K Report, Financial Results (May 20, 2026)

Reports
Earnings & Results·Financial Events·Regulation FD+2
Filing Date
Filed May 20, 2026
Period End
May 20, 2026
Security
INTU
In the record · 2016–202610-K1110-Q328-K101

INTU filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 101 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · May ’16May ’16
  2. Material agreement8-K · May ’19May ’19
  3. Deal closed8-K · Nov ’21Nov ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed May 20, 2026. Cited figures are marked; the original filing is the authoritative source.

Intuit (INTU) reported fiscal Q3 2026 results (quarter ended April 30, 2026) that beat on growth and raised its full-year revenue guidance.

Total revenue rose 10% to $8.56 billiona, GAAP diluted EPS rose 11% to $11.09, and non-GAAP diluted EPS rose 10% to $12.80. Global Business Solutions grew 15% to $3.3 billion, with Online Ecosystem revenue up 19%, while Consumer grew 8% to $5.3 billion, led by TurboTax Live and Credit Karma. Management raised FY26 revenue growth to roughly 13-14% and non-GAAP EPS to $23.80-$23.85, though guidance for the June quarter and the Q4 GAAP figures reflects the restructuring charge.

The company also announced a restructuring plan to cut about 17% of its full-time workforce, close certain sites (including Reno and Woodland Hills), and wind down investment in Mailchimp. Management expects $300 million to $340 millionb in charges, mostly in the fiscal Q4 ending July 31, 2026, largely severance and benefits, with substantially all actions completed by October 31, 2026. The company also declared a quarterly dividend of $1.20 per share, up 15% year over year, payable July 17, 2026, and received board approval for a new $8 billion buyback authorization after repurchasing $1.6 billion of stock in the quarter.

For investors, the key questions are whether the restructuring delivers the promised margin expansion and whether growth at TurboTax (ProTax flat, TurboTax Online units expected to decline about 2%c) holds up against the strong Online Ecosystem and Credit Karma results. The filing's forward-looking risk factors, including the preliminary nature of the restructuring estimate and execution risk, warrant attention.

02—Key points

Key Highlights

  1. Revenue of $8.56B (+10%); GAAP EPS $11.09 (+11%); non-GAAP EPS $12.80 (+10%), with GAAP operating income of $4.02B (+8%).
  2. Global Business Solutions revenue +15% to $3.3B; Online Ecosystem +19% (+22% excluding Mailchimp), with QuickBooks Online Accounting up 22%.
  3. Consumer revenue +8% to $5.3B: TurboTax +7% to $4.4B, Credit Karma +15% to $631M, ProTax flat at $278M.
  4. FY26 guidance raised: revenue growth ~13-14% ($21.34-$21.37B), non-GAAP EPS $23.80-$23.85 (~18% growth), GAAP EPS $15.79-$15.84.
  5. Restructuring: ~17% workforce reduction and site closures, with $300M-$340M in charges mainly in fiscal Q4; Q4 GAAP EPS guidance of $0.73-$0.79 includes these charges.
  6. Capital returns: $1.6B of buybacks in Q3, a new $8B repurchase authorization, and a quarterly dividend of $1.20 per share (+15% YoY), payable July 17, 2026.
  7. Balance sheet: $6.8B cash and investments against $6.2B of debt as of April 30, 2026.

03—Questions

Frequently Asked Questions

  1. How large are the restructuring charges and when will they be recognized?

    Intuit estimates $300 million to $340 million in charges, primarily in its fiscal fourth quarter ending July 31, 2026. The charges are mostly future cash expenditures for severance and employee benefits. Substantially all actions are expected to be completed by the first fiscal quarter ending October 31, 2026, subject to local law and consultation requirements. The company notes actual amounts may differ materially.

  2. Did the company raise its full-year outlook?

    Yes. Intuit raised FY26 guidance for revenue and all non-GAAP metrics. Revenue is now expected at $21.341-$21.374 billion (about 13-14% growth), and non-GAAP EPS at $23.80-$23.85 (about 18% growth). GAAP EPS guidance is $15.79-$15.84, which includes the restructuring charge and other adjustments.

  3. What does the restructuring mean for TurboTax and Mailchimp?

    The filing says the company is reducing overlap between TurboTax and Credit Karma now that integration is largely complete, and reducing investment in Mailchimp. Management says resources are being reallocated to the 3 Big Bets. Management also expects TurboTax Online units to decline about 2% and ProTax revenue to be flat, while TurboTax Live revenue is expected to grow 36%.

  4. How is Intuit returning capital to shareholders?

    In the quarter, Intuit repurchased $1.6 billion of stock and the board approved a new $8 billion repurchase authorization. The board also approved a $1.20 quarterly dividend per share, up 15% from the prior year, payable July 17, 2026 to holders of record on July 9, 2026. Future dividends remain subject to board determination.

  5. What are the main risks highlighted in the filing?

    Key risks include the preliminary nature of the restructuring cost estimate and timing, execution disruption, and the company's ability to realize the Plan's anticipated benefits. Other risks cited include AI development and adoption, competition, regulatory changes affecting the tax business, cybersecurity, and macroeconomic conditions. The company also flags seasonality in its tax business and its ability to repay debt and repurchase shares.

04—Continue

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