Manhattan Associates Q3 2022 Earnings Report
Key Takeaways
Manhattan Associates reported revenue of $198.1 million for the third quarter ended September 30, 2022, with GAAP diluted earnings per share of $0.47 and non-GAAP adjusted diluted earnings per share of $0.66. Demand is strong and resilient across their differentiated cloud product portfolio, and they are committed to investing in industry leading innovation.
Consolidated total revenue was $198.1 million for Q3 2022, compared to $169.2 million for Q3 2021.
Cloud subscription revenue was $45.3 million for Q3 2022, compared to $32.2 million for Q3 2021.
GAAP diluted earnings per share was $0.47 for Q3 2022, compared to $0.57 for Q3 2021.
Adjusted diluted earnings per share, a non-GAAP measure, was $0.66 for Q3 2022, compared to $0.71 for Q3 2021.
Manhattan Associates
Manhattan Associates
Manhattan Associates Revenue by Segment
Manhattan Associates Revenue by Geographic Location
Forward Guidance
Manhattan Associates provides revenue guidance for the full year 2022: Total revenue is expected to be between $750 million and $753 million.
Positive Outlook
- Total revenue is expected to be between $750 million and $753 million, representing a growth of 13%.
- GAAP operating margin is expected to be between 17.5% and 17.7%.
- Adjusted operating margin is expected to be between 25.5% and 25.6%.
- GAAP EPS is expected to be between $1.71 and $1.73.
- Adjusted EPS is expected to be between $2.43 and $2.45, representing a growth of 9% to 10%.
Challenges Ahead
- GAAP EPS is expected to be between $1.71 and $1.73, representing a decline of -1% to 1%.
- The 2017 U.S. Tax Cuts and Jobs Act eliminated the expensing of research and development costs as incurred for tax purposes beginning in 2022, increasing near-term taxable income and payments.
- Cash outlook for 2022 includes the negative impact of approximately $25 million to $30 million in additional income tax payments.
- Economic conditions, including inflation, may impact future performance.
- Global instability, including the war in Ukraine, may impact future performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income