Stock Market Nerd – Earnings Round-Up – Workday ($WDAY) & ELF Beauty ($ELF) – May 25, 2024
Workday ($WDAY)
Results:
- Beat revenue estimates and identical guidance by 1.0%.
- Beat subscription revenue guidance by 0.3%.
- Beat EBIT estimate by 6.3% & beat EBIT guidance by 6.7%.
- 3.2% GAAP EBIT margin beat 0.5% margin estimates by 270 bps.
- Beat $1.58 EPS estimate by $0.16.
Source: Brad Freeman – SEC Filings, Company Presentations, and Company Press Releases
Annual Guidance & Valuation:
- Slightly lowered annual revenue guidance by 0.2%, which slightly missed estimates by 0.4%.
- Raised EBIT margin guide from 24.5% to 25.0% and raised GAAP EBIT margin guide from 3.5% to 4.0%. Implied EBIT guidance is roughly in line with estimates.
- Reiterated OCF guidance and FCF guidance, which slightly missed estimates.
Balance Sheet:
- $7.2B in cash & equivalents.
- $3B in debt.
- Diluted share count rose 3.4% Y/Y; basic share count rose 2.2% Y/Y.
ELF Beauty ($ELF)
Results:
- Beat revenue estimate by 10%.
- Beat EBITDA estimate by 16%.
- Beat $0.33 EPS estimate by $0.20.
Source: Brad Freeman – SEC Filings, Company Presentations, and Company Press Releases
Annual Guidance & Valuation:
- Revenue guide missed by 2.3%.
- EBITDA guide missed by 5.3%; $3.23 EPS guide missed by $0.33.
Balance Sheet:
- $108M in $ & equivalents.
- $162M in total debt (including leases).
- Share count rose 3.2% Y/Y.
