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Manhattan Associates
🇺🇸 NASDAQ:MANH
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•
Mar 31, 2020

Manhattan Associates Q1 2020 Earnings Report

Reported record revenue and solid performance despite COVID-19 impact.

Key Takeaways

Manhattan Associates reported a record first-quarter revenue of $153.9 million, with GAAP diluted earnings per share at $0.35 and non-GAAP adjusted diluted earnings per share at $0.40. The company's cloud business outperformed, demonstrating noticeable revenue growth and continued strength in overall bookings. Due to the COVID-19 pandemic, the company is taking a conservative approach and updating its full-year financial guidance to reflect current visibility.

Consolidated total revenue reached $153.9 million, compared to $148.4 million in the same quarter last year.

Cloud subscription revenue was $17.3 million, a notable increase from $7.9 million in the previous year.

GAAP diluted earnings per share was $0.35, compared to $0.32 in the first quarter of the prior year.

Adjusted diluted earnings per share, a non-GAAP measure, was $0.40, slightly lower than $0.41 in the prior year.

Total Revenue
$154M
Previous year: $148M
+3.7%
EPS
$0.4
Previous year: $0.41
-2.4%
Gross Profit
$79.1M
Previous year: $81.2M
-2.7%
Cash and Equivalents
$75.3M
Previous year: $105M
-28.2%
Free Cash Flow
$10.3M
Previous year: $34.6M
-70.1%
Total Assets
$348M
Previous year: $360M
-3.2%

Manhattan Associates

Manhattan Associates

Manhattan Associates Revenue by Segment

Manhattan Associates Revenue by Geographic Location

Forward Guidance

Manhattan Associates updated its full-year 2020 financial guidance to reflect the current business environment, considering the impact of the COVID-19 pandemic.

Positive Outlook

  • Total revenue is expected to be between $541 million and $565 million.
  • GAAP operating margin is projected to be between 17.5% and 17.9%.
  • Adjusted operating margin is anticipated to be between 22.9% and 23.1%.
  • GAAP EPS is forecasted to be between $1.16 and $1.24.
  • Adjusted EPS is expected to be between $1.50 and $1.58.

Challenges Ahead

  • Total revenue current guidance reflects a decrease of -12% to -9%.
  • Previous total revenue guidance reflected an increase of 4% to 6%.
  • GAAP EPS current guidance reflects a decrease of -12% to -6%.
  • Adjusted EPS current guidance reflects a decrease of -14% to -9%.
  • The severity, duration, and ultimate impact of the COVID-19 pandemic are difficult to predict at this time.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Manhattan Associates