- Ahead of today's analyst day event (starts at 11:30AM ET, webcast), Autodesk (ADSK +2.4%) is reaffirming its FQ3 (Oct. quarter) guidance and establishing FQ4 guidance. (PR)
- The CAD software giant expects FQ4 revenue of $560M-$580M and EPS of $0.29-$0.36, below a consensus of $596.6M and $0.49. Investors don't seem to be concerned, given the company's transition to a subscription-based business model that results in less revenue being recognized up-front.
- Also: Autodesk is acquiring certain assets from French construction/civil engineering software firm Graitec, including the company's Advance Steel and Advance Concrete product lines.
- Autodesk says the products will strengthen its Building Information Modeling software lineup for structural fabrication/detailing applications. The company's Architecture, Engineering, and Construction sales have been a bright spot, growing 6% Y/Y in the July quarter (FQ2) vs. a 1% rev. drop for the company at-large.
- The Graitec software purchases follow the acquisition of bridge/vehicle software tools from two U.K. firms in August.