UPDATE 1-Autodesk lifts annual forecasts, signs $3.6 billion deal to buy MaintainX
Autodesk, Inc. ADSK | 0.00 |
Adds details on quarterly results from paragraphs 5-9
May 28 (Reuters) - Autodesk ADSK.O on Thursday raised its forecasts for annual revenue and profit and said it had signed a $3.6 billion deal to buy maintenance and operations software firm MaintainX.
Autodesk's growth is being supported by steady demand across architecture, engineering and construction end-markets, with continued adoption of the company's software to manage complex design and build workflows.
"Our goal with MaintainX is to bring deep operational expertise, contextual data and workflows that enhance our ability to use AI to converge digital and physical worlds," Autodesk CEO Andrew Anagnost said.
Autodesk intends to fund the transaction with a combination of cash on hand and debt financing. The deal is expected to close later this fiscal year.
MaintainX expects to achieve in excess of $135 million of annualized recurring revenue (ARR) for 2026.
Shares of Autodesk were down about 3% in extended trading.
The company expects revenue between $8.16 billion and $8.22 billion for fiscal 2027, compared with its earlier projection of $8.10 billion to $8.17 billion.
Annual adjusted profit per share is expected to be $12.40 to $12.65, ahead of its prior forecast of $12.29 to $12.56.
Autodesk reported total revenue of $1.93 billion for the first quarter, beating analysts' average estimate of $1.89 billion, according to data compiled by LSEG.
Quarterly adjusted profit was $2.99 per share, topping estimates of $2.84 per share.
