Autodesk Inc. (ADSK) has concluded that there will be no need for a restatement or adjustment of its financial statements following an audit committee investigation into the company's free cash flow and non-GAAP operating margin practices.
Furthermore, the company announced the appointment of Elizabeth Rafael as Interim Chief Financial Officer, effective May 31, 2024. Concurrently, Deborah Clifford has been named Chief Strategy Officer and will report directly to the Chief Executive Officer, also effective on May 31, 2024.
Autodesk also provided preliminary results for the first quarter of fiscal 2025. The company reported quarterly earnings per share (EPS) of approximately $1.16, non-GAAP EPS of $1.87, and revenues around $1.42 billion. Analysts, as surveyed by Thomson Reuters, had anticipated EPS of $1.74 and revenues of $1.39 billion for the quarter. It is important to note that analysts' estimates typically exclude special items.
Looking ahead to the second quarter, Autodesk projects EPS between $1.12 and $1.18, non-GAAP EPS in the range of $1.98 to $2.04, and revenues between $1.475 billion and $1.490 billion. Analysts forecast EPS of $1.97 and revenues of $1.47 billion for the second quarter.
For the fiscal year 2025, Autodesk anticipates EPS to be in the range of $4.71 to $4.93, with non-GAAP EPS between $7.99 and $8.21. The company expects annual revenue between $5.99 billion and $6.09 billion, reflecting a 9% to 11% increase from the previous year. Wall Street analysts currently forecast fiscal year 2025 EPS of $8.05 on annual revenues of $6.04 billion.