You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. These tables include adjustments that we can reasonably predict. INTUIT INC. Our effective tax rate for the twelve months ended July 31, 2019 was approximately 17%. Intuit’s mission is to Power Prosperity Around the World. With the April sales of existing homes falling 17.8% month-over-month, it … We exclude from our non-GAAP financial measures the professional fees we incur to complete business combinations. Reflects estimated adjustments for share-based compensation expense of approximately $423 million; amortization of acquired technology of approximately $21 million; and amortization of other acquired intangible assets of approximately $6 million. This press release and the accompanying tables include non-GAAP financial measures. TABLE B1 Cautions About Forward-looking Statements, This press release contains forward-looking statements, including forecasts of expected growth and future financial results of Intuit and its reporting segments; Intuit’s prospects for the business in fiscal 2020 and beyond; expectations regarding timing and growth of revenue for each of Intuit’s reportable segments and from current or future products and services; expectations regarding customer growth; expectations regarding changes to our products and their impact on Intuit’s business; expectations regarding the amount and timing of any future dividends or share repurchases; expectations regarding availability of our offerings; expectations regarding Intuit’s corporate tax rate; expectations regarding the impact of our strategic decisions on Intuit’s business; and all of the statements under the heading “Forward-looking Guidance.”. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same names, and may differ from non-GAAP financial measures with the same or similar names that are used by other companies. Intuit also reiterated its guidance for the full fiscal 2020. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same names, and may differ from non-GAAP financial measures with the same or similar names that are used by other companies. For the six months ended January 31, 2019, we reclassified the net change in customer fund deposits in the condensed consolidated statements of cash flows from investing activities to financing activities to conform to the current presentation. Intuit Inc. (NASDAQ: INTU) reported better-than-expected revenue and earnings for the second quarter of 2020, sending the stock climbing 2.3% in aftermarket hours on Monday.Total revenue of $1.7 billion was up 13% year-over-year and ahead of estimates of $1.68 billion. The financial software giant is set to report fourth quarter fiscal 2020 earnings results after the closing bell Tuesday. Cautions About Forward-looking Statements. In this example, the Qualifying Week will be Sunday 12/01/2020 to Saturday 18/01/2020. Full Year Performance Led By 13 Percent Consumer Group Revenue Growth, Strongest TurboTax Customer Growth in Four Years. For the fourth fiscal quarter and full fiscal year: Grew QuickBooks Online accounting revenue 34 percent for the quarter and 38 percent for the year. 2020 Forecast for the Accounting Profession This report provides a view of the significant demographic, economic, social and technology trends and forces that will affect the accounting and tax profession over the next decade. Reflects the estimated adjustments in item [c], income taxes related to these adjustments, and other income tax effects related to the use of the non-GAAP tax rate. We do not undertake any duty to update any forward-looking statement or other information in this presentation. Intuit Corp (NASDAQ: INTU) Q1 2021 earnings call dated Nov. 19, 2020 Corporate Participants: Kim Watkins — Vice President of Investor Relations. Kim Watkins A copy of the press release issued by Intuit today can be found on the investor relations page of Intuit's website. Goodwill and intangible asset impairment charges. Earnings per share were up 129.27% over the past year to … See “About Non-GAAP Financial Measures” immediately following Table D for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide. After submitting your request, you will receive an activation email to the requested email address. 650-944-6619 "We are halfway through our fiscal year and continue to see strong momentum as we make progress on our strategy to become an A.I.-driven expert platform," said Sasan Goodarzi, Intuit's chief executive officer. INTUIT INC. You must click the activation link in order to complete your subscription. Drove DIY category growth of 3.5 percent, outpacing assisted category decline of 3.7 percent while total e-files were up 0.6 percent, based on IRS data through February 7. Changes in operating assets and liabilities: Total changes in operating assets and liabilities, Net cash provided by operating activities, Purchases of corporate and customer fund investments, Sales of corporate and customer fund investments, Maturities of corporate and customer fund investments, Acquisitions of businesses, net of cash acquired, Originations of term loans to small businesses, Principal repayments of term loans from small businesses, Proceeds from issuance of long-term debt, net of discount and issuance costs, Proceeds from borrowings under unsecured revolving credit facility, Proceeds from borrowings under secured revolving credit facility, Proceeds from issuance of stock under employee stock plans, Payments for employee taxes withheld upon vesting of restricted stock units, Cash paid for purchases of treasury stock, Net cash provided by (used in) financing activities, Effect of exchange rates on cash, cash equivalents, restricted cash, and restricted cash equivalents, Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents, Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period, Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period, Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents reported within the consolidated balance sheet to the total amounts reported on the consolidated statement of cash flows, Restricted cash and restricted cash equivalents included in funds held for customers, Total cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period, INTUIT INC. The event will include presentations from Sasan Goodarzi, president and chief executive officer, Michelle Clatterbuck, chief financial officer, and other leaders. The audio webcast will remain available on Intuit’s website for one week after the conference call. We exclude the following items from all of our non-GAAP financial measures: We also exclude the following items from non-GAAP net income (loss) and diluted net income (loss) per share: We believe that these non-GAAP financial measures provide meaningful supplemental information regarding Intuit’s operating results primarily because they exclude amounts that we do not consider part of ongoing operating results when planning and forecasting and when assessing the performance of the organization, our individual operating segments, or our senior management. Non-GAAP operating income of $2.515 billion to $2.565 billion, growth of 10 to 12 percent. RECONCILIATION OF FORWARD-LOOKING GUIDANCE FOR NON-GAAP FINANCIAL MEASURES Repurchased $139 million of shares, with $2.4 billion remaining on the company's authorization. QuickBooks Capital has funded $607 million in cumulative loans since being launched over 2 years ago. A replay of the conference call will be available for one week by calling 855-859-2056, or 404-537-3406 from international locations. The topline results were driven by a 17% increase in Small Business and Self-Employed Group and an 8% increase in Consumer … Intuit’s mission is to Power Prosperity Around the World. Unit data is for the period November 1, 2019 to July 31, 2020 for the season through July 31, 2020 and for November 1, 2018 to July 31, 2019 for the season through July 31, 2019. Total revenue to $1.7 billion, up 13 percent. TABLE E This long-term non-GAAP tax rate could be subject to change for various reasons including significant changes in our geographic earnings mix or fundamental tax law changes in major jurisdictions in which we operate. Intuit annual and quarterly earnings per share history from 2006 to 2020. When considering the impact of equity awards, we place greater emphasis on overall shareholder dilution rather than the accounting charges associated with those awards. The analysts of Goldman Sachs have rated Intuit with a Neutral rating. GAAP diluted earnings per share of $6.35 to $6.45, growth of 8 to 10 percent. Intuit repaid the outstanding balance of its $1 billion revolving credit facility on August 10. No reservation or access code is needed. Excluding nonrecurring Paycheck Protection Program (PPP) revenue, growth was 13 percent and 25 percent respectively. Excluding discrete tax items primarily related to share-based compensation tax benefits mentioned above, our effective tax rate for the period was 24%. Small Business Online Ecosystem revenue by 35 percent. Grew Small Business and Self-Employed Group revenue by 15 percent and Online Ecosystem revenue by 31 percent. We exclude from our non-GAAP financial measures the professional fees we incur to complete business combinations. 650-944-3324 Prepaid expenses and other current assets, Current assets before funds held for customers, Accrued compensation and related liabilities, Current liabilities before customer fund deposits, Long-term deferred income tax liabilities, Total liabilities and stockholders’ equity, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. Intuit Inc. is estimated to report earnings on 02/22/2021. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. TurboTax Live customers grew nearly 70 percent. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures. Snapshot of Fiscal Year 2020 Full-year Results. Reflects estimated adjustments for share-based compensation expense of approximately $103 million; amortization of acquired technology of approximately $5 million; and amortization of other acquired intangible assets of approximately $2 million. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures. These factors include, without limitation, the following: our ability to compete successfully; our participation in the Free File Alliance; potential governmental encroachment in our tax businesses; our ability to adapt to technological change; our ability to predict consumer behavior; our reliance on third-party intellectual property; our ability to protect our intellectual property rights; any harm to our reputation; risks associated with acquisition and divestiture activity; the issuance of equity or incurrence of debt to fund an acquisition; our cybersecurity incidents (including those affecting the third parties we rely on); customer concerns about privacy and cybersecurity incidents; fraudulent activities by third parties using our offerings; our failure to process transactions effectively; interruption or failure of our information technology; our ability to maintain critical third-party business relationships; our ability to attract and retain talent; any deficiency in the quality or accuracy of our products (including the advice given by experts on our platform); any delays in product launches; difficulties in processing or filing customer tax submissions; risks associated with international operations; changes to public policy, laws or regulations affecting our businesses; litigation in which we are involved; the seasonal nature of our tax business; changes in tax rates and tax reform legislation; global economic changes; exposure to credit risk of the businesses we provide capital to; amortization of acquired intangible assets and impairment charges; our ability to repay outstanding debt; our ability to repurchase shares or distribute dividends; volatility of our stock price; and our ability to successfully market our offerings. Table B1, Table B2 and Table E reconcile the non-GAAP financial measures in that press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). No reservation or access code is needed. Intuit Inc. (NASDAQ: INTU) reported a 67% jump in earnings for the first quarter of 2020 helped by higher revenues and income tax benefit.The results exceeded analysts’ expectations. CONDENSED CONSOLIDATED BALANCE SHEETS "We had an outstanding tax season, growing the Do-It-Yourself (DIY) category overall as well as our share of total returns, while posting the strongest customer growth in four years. Reflects the estimated adjustments in item [a], income taxes related to these adjustments, and other income tax effects related to the use of the non-GAAP tax rate. Excluding nonrecurring PPP revenue, growth was 14 percent and 30 percent respectively. Intuit announced guidance for the third quarter of fiscal year 2020, which ends April 30. Analysts expected Intuit earnings of $4.48 a share on sales of $3 billion, according to S&P Global Market Intelligence. Intuit Inc. (Nasdaq: INTU), maker of TurboTax, QuickBooks and Mint, announced financial results for the third quarter of fiscal 2020, which ended April 30. Increased Consumer Group revenue to $710 million. "We had a strong fourth quarter capping off a dynamic fiscal 2020. Earnings Results Intuit’s ‘strong’ first quarter: Profit more than triples, revenue rises 14% Published: Nov. 19, 2020 at 4:41 p.m. New York, NY 10038 We will evaluate this long-term non-GAAP tax rate on an annual basis and whenever any significant events occur which may materially affect this rate. Intuit (NASDAQ:INTU) is scheduled to announce Q3 earnings results on Thursday, May 21st, after market close. The price to earnings ratio is calculated by taking the latest closing price and dividing it by the most recent earnings per share (EPS) number. After the closing bell on Tuesday, Intuit Inc. (Nasdaq: INTU) beat earnings results with its fiscal fourth-quarter 2020 earnings release. This press release and the accompanying tables include non-GAAP financial measures. Intuit editor’s picks. (Unaudited), Net (gain) loss on debt securities and other investments, Non-GAAP diluted net income (loss) per share, Shares used in GAAP diluted per share calculation, Shares used in non-GAAP diluted per share calculation. The company expects: Revenue of $7.440 billion to $7.540 billion, growth of 10 to 11 percent. Our effective tax rate for the three months ended January 31, 2019 was approximately 20%. This includes proceeds from $2 billion senior notes issued on June 29 at a blended coupon rate of 1.15%. Intuit Inc. (NASDAQ: INTU) Q4 2020 Results Earnings Conference Call August 25, 2020 4:30 PM ET. These consist of non-cash expenses for stock options, restricted stock units, and our Employee Stock Purchase Plan. Turning to guidance, our Q3 fiscal 2020 guidance includes revenue growth of 10% to 11%, GAAP earnings per share of $5.53 to $5.58, and non-GAAP earnings per … To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We compute our provision for or benefit from income taxes by applying the estimated annual effective tax rate to income or loss from recurring operations and adding the effects of any discrete income tax items specific to the period. Amortization of other acquired intangible assets, Shares used in basic per share calculations, Shares used in diluted per share calculations. The following are descriptions of the items we exclude from our non-GAAP financial measures. These non-GAAP financial measures include non-GAAP operating income (loss), non-GAAP net income (loss), and non-GAAP net income (loss) per share. The topline results were driven by a 17% increase in Small Business and Self-Employed Group and an 8% increase in Consumer … See “About Non-GAAP Financial Measures” below for more information regarding financial measures not prepared in accordance with Generally Accepted Accounting Principles (GAAP). After submitting your request, you will receive an activation email to the requested email address. Increased Online Services revenue 23 percent, driven by QuickBooks Online payroll and QuickBooks Online payments. For the three and six months ended January 31, 2019, we recognized excess tax benefits on share-based compensation of $8 million and $49 million, respectively, in our provision for income taxes. Key 2020 health stories you may have missed because of Covid-19. If you experience any issues with this process, please contact us for further assistance. Other income tax adjustments consist primarily of the tax impact of the non-GAAP pre-tax adjustments and the excess tax benefits on share-based compensation. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. See “About Non-GAAP Financial Measures” immediately following this Table E for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure. Sasan Goodarzi — Chief Executive Officer. Find the latest Earnings Report Date for Intuit Inc. Common Stock (INTU) at Nasdaq.com. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES, TO MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES, Professional fees for business combinations, Net (gain) loss on debt securities and other investments, Non-GAAP diluted net income (loss) per share, Shares used in GAAP diluted per share calculation, Shares used in non-GAAP diluted per share calculation. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide, unleashing the power of many for the prosperity of one. Increased GAAP operating income to $2.2 billion, up 17 percent. INTUIT INC. As of July 31, 2020, Intuit and its bank partners helped make available just over $1.2 billion of approved small business loans to customers from the PPP through QuickBooks Capital. Based on our current long-term projections, we are using a long-term non-GAAP tax rate of 23% for fiscal 2019 and fiscal 2020. 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