Stock Market Nerd – Earnings Round-Up – Workday ($WDAY) & ELF Beauty ($ELF) – May 25, 2024
Workday ($WDAY)
![](https://www.bbae.com/wp-content/uploads/Workday_Logo-1536x596.png)
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.
![](https://www.bbae.com/wp-content/uploads/a3c1d7c1-c2c5-412c-8818-d8fb22170b13_2128x533.webp)
![](https://www.bbae.com/wp-content/uploads/bd1c54a5-05ad-42b4-b550-0751dd963f19_2110x741.webp)
![](https://www.bbae.com/wp-content/uploads/c1668ac3-9152-4afe-a2cb-3532ad590e67_2165x388.webp)
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)
![](https://www.bbae.com/wp-content/uploads/elf-cosmetics-logo-5C73482AB6-seeklogo.com_.png)
Results:
- Beat revenue estimate by 10%.
- Beat EBITDA estimate by 16%.
- Beat $0.33 EPS estimate by $0.20.
![](https://www.bbae.com/wp-content/uploads/10ebcd60-3566-473d-8f5b-73ba7c61b373_2021x298.webp)
![](https://www.bbae.com/wp-content/uploads/145b84b8-5dd2-4a01-8d1b-46fd837932cf_2182x723.webp)
![](https://www.bbae.com/wp-content/uploads/6dca300c-97eb-472b-bd9f-f459be6c8964_2168x449.webp)
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.
![](https://www.bbae.com/wp-content/uploads/BBAE-Social.png)