=Autodesk (ADSK) reported earnings on Tue 6 March 2018 (a/h)

Autodesk beats by $0.02, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY19 EPS below consensus, revs below consensus 

• Reports Q4 (Jan) loss of $0.09 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of ($0.11); revenues rose 15.7% year/year to $554 mln vs the $544.74 mln Capital IQ Consensus.
• Co issues downside guidance for Q1, sees EPS of $0.01-0.04, excluding non-recurring items, vs. $0.16 Capital IQ Consensus Estimate; sees Q1 revs of $550-560 mln vs. $585.06 mln Capital IQ Consensus Estimate.
• Co issues downside guidance for FY19, sees EPS of $0.77-0.95, excluding non-recurring items, vs. $1.24 Capital IQ Consensus Estimate; sees FY19 revs of $2.455-2.505 mln vs. $2.55 bln Capital IQ Consensus Estimate. Sees billings in the range of $2.72-2.82 bln. Net sub adds are expected to be in the range of 500-550K.
  • Guidance is under accounting rule ASC 606.

Autodesk up 11% testing all-time highs following earnings on strong subscription/ARR metrics 

• While EPS and revenue guidance for Q1 and FY19 were below estimates, the subscriber and ARR (annual recurring revenue) growth/outlook is strong.
• Subscription plan ARR +106% to $1.18 billion. Total ARR +25% to $2.05 billion vs. $2.032-2.065 bln guidance. Subscription plan subscriptions increased 371,000 from the third quarter of fiscal 2018 to 2.27 million. Subscription plan subscriptions benefited from 168,000 maintenance subscribers that converted to product subscription under the maintenance-to-subscription program. Total subscriptions increased 127,000 from the third quarter of fiscal 2018 to 3.72 million at the end of the fourth quarter.
• Sees FY19 total ARR up 28-30% (29-31% under old accounting rules) vs +28% consensus; net sub adds 500-550K from 3.72 mln (vs. +20% Y/Y last year).

Autodesk (ADSK) reported earnings Tue 28 Nov 2017 (a/h)

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Autodesk beats by $0.01, reports revs in-line; guides Q4 EPS in-line, revs in-line; Announces restructuring plan 

• Reports Q3 (Oct) loss of $0.12 per share, $0.01 better than the Capital IQ Consensus of ($0.13); revenues rose 5.2% year/year to $515.3 mln vs the $513.63 mln Capital IQ Consensus.
  • Subscription plan (formerly known as new model) annualized recurring revenue (ARR) was $924 million and increased 106 percent compared to the third quarter last year as reported, and 108 percent on a constant currency basis.
  • Deferred revenue increased 15 percent to $1.76 billion, compared to $1.53 billion in the third quarter last year. Unbilled deferred revenue at the end of the third quarter was $148 million.
• Co issues in-line guidance for Q4, sees EPS of ($0.14)-($0.10), excluding non-recurring items, vs. ($0.13) Capital IQ Consensus Estimate; sees Q4 revs of $537-547 mln vs. $544.97 mln Capital IQ Consensus Estimate.
• Restructuring News
  • Autodesk announced a restructuring plan to focus on the company's strategic priorities of completing the subscription transition; digitizing the company; and re-imagining manufacturing, construction, and production. By realigning its investments, Autodesk is positioning itself to meet its long-term goals, including keeping non-GAAP spend flat in fiscal 2019. The company anticipates taking a pre-tax restructuring charge in the range of $135 million to $149 million. Approximately $91 million to $100 million in pre-tax charges will be taken in the fourth quarter of fiscal 2018. The remaining charge will be taken in fiscal 2019.
  • 'As we enter the growth phase of our model transition, we need to re-balance investments to focus on our strategic priorities. This includes divesting from some areas and increasing our investment in others. We're taking this restructuring action from a position of strength. This is not a cost reduction activity as we maintain our commitment to keep total non-GAAP spend flat this year and next'.

Autodesk (ADSK) reported earnings Thur 18 May 2017 (a/h)

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Autodesk beats by $0.07, beats on revs; guides Q2 EPS in-line, revs above consensus; reaffirms FY18 EPS guidance, revs guidance:

• Reports Q1 (Apr) loss of $0.16 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus of ($0.23); revenues fell 5.1% year/year to $485.7 mln vs the $470.27 mln Capital IQ Consensus.
• Co issues guidance for Q2, sees EPS of ($0.18) - ($0.14), excluding non-recurring items, vs. ($0.15) Capital IQ Consensus Estimate; sees Q2 revs of $488-500 mln vs. $488.08 mln Capital IQ Consensus Estimate.
• Co reaffirms guidance for FY18, sees EPS of ($0.73) - ($0.56), excluding non-recurring items, vs. ($0.60) Capital IQ Consensus Estimate; sees FY18 revs of $2.000-2.050 bln vs. $2.02 bln Capital IQ Consensus Estimate.
• Subscription plan (formerly known as new model) subscriptions increased 233,000 from the fourth quarter of fiscal 2017 to 1.32 million at the end of the first quarter.
• Deferred revenue increased 18 percent to $1.80 billion, compared to $1.52 billion in the first quarter last year.
• Total recurring revenue in the first quarter was 90 percent of total revenue compared to 72 percent of total revenue in the first quarter last year.

Autodesk (ADSK) reported earnings Thur 23 Aug 2012

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Design software maker Autodesk's fiscal second-quarter profit fell 9.3%, and the company said it plans to reduce its staff in a restructuring effort. Shares plunged 22% to $27.85 after hours.