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Manhattan Associates
🇺🇸 NASDAQ:MANH
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•
Mar 31, 2024

Manhattan Associates Q1 2024 Earnings Report

Reported record first quarter results with RPO bookings increasing 31% year-over-year and raised full-year guidance.

Key Takeaways

Manhattan Associates reported a strong start to 2024 with better-than-expected first-quarter results. Revenue reached $254.6 million, with GAAP diluted earnings per share at $0.86 and non-GAAP adjusted diluted earnings per share at $1.03. The company's fundamentals are strong, driven by solid demand and favorable pipeline momentum.

Consolidated total revenue reached $254.6 million, compared to $221.0 million for the three months ended March 31, 2023.

GAAP diluted earnings per share was $0.86, compared to $0.62 for the three months ended March 31, 2023.

Non-GAAP adjusted diluted earnings per share was $1.03, compared to $0.80 for the three months ended March 31, 2023.

GAAP operating income was $57.6 million, compared to $47.1 million for the three months ended March 31, 2023.

Total Revenue
$255M
Previous year: $221M
+15.2%
EPS
$1.03
Previous year: $0.8
+28.7%
Gross Profit
$135M
Previous year: $117M
+15.2%
Cash and Equivalents
$208M
Previous year: $182M
+14.3%
Free Cash Flow
$52.4M
Previous year: $58.1M
-9.7%
Total Assets
$675M
Previous year: $531M
+27.1%

Manhattan Associates

Manhattan Associates

Manhattan Associates Revenue by Segment

Manhattan Associates Revenue by Geographic Location

Forward Guidance

Manhattan Associates provides revenue guidance between $1,026 million and $1,034 million for the full year 2024. GAAP EPS is expected to be between $2.78 and $2.86, while adjusted EPS is projected to be between $3.86 and $3.94.

Positive Outlook

  • Total revenue is expected to be between $1,026 million and $1,034 million, representing a growth of 10% to 11%.
  • Adjusted operating margin is guided between 29.6% and 29.9%.
  • Adjusted EPS is projected to be between $3.86 and $3.94, indicating a growth of 3% to 5%.
  • Company's remaining share repurchase authority replenished to an aggregate of $75.0 million of common stock.

Challenges Ahead

  • GAAP EPS is expected to be between $2.78 and $2.86, representing a decline of 1% to an increase of 1%.
  • Equity-based compensation is expected to be 8.8% to 8.7%.
  • Excess tax benefit on stock vesting expected to occur primarily in the first quarter of 2024.
  • Actual results may differ materially due to economic conditions, competition, and other risk factors.
  • The company disclaims any obligation to update forward-looking statements.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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