Intuit Inc. (INTU) Q4 2026 (USD): Adj. EPS 4.03 (exp. 3.58), Revenue 4.4bln (exp. 4.27bln)

• Q1 revenue 4.29-4.31bln (exp. 4.36bln).
• Q1 adj. EPS 2.44-2.48 (exp. 3.99).
• FY27 revenue 23.28-23.51bln (exp. 23.72bln).
• FY27 adj. EPS 22.88-23.12 (exp. 27.30).

This is the classic Intuit print pattern in extreme form: a clean beat on the reported quarter against a guide that sits well below consensus, and it is the guidance that sets the tape. The gap on forward EPS is unusually wide, far beyond the conservatism this company has historically built into its initial annual outlooks, which frames the central question: whether this is a one-off step-up in investment spending, a margin reset, or something structural in the tax and small-business franchises. The distinction worth drawing is between a timing issue, where revenue deferral or expense phasing pulls EPS forward into later quarters, and a genuine reset of the earnings base, since the former tends to get bought back over subsequent quarters while the latter re-rates the multiple. Revenue guidance is only modestly light against the EPS shortfall, which points to the cost line rather than demand as the driver. Worth watching are the call commentary on investment plans and margin trajectory, any segment-level detail on the consumer and Credit Karma businesses, and whether the sell-side treats the guide as a trough or rebases the full-year model. Historical precedent with this issuer is that initial guidance has often proven deliberately cautious, but misses of this magnitude have tended to produce more than a one-session repricing.