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Sep 30, 2022
Manhattan Associates Q3 2022 Earnings Report
Reported record Q3 revenue and better than expected earnings per share due to strong demand.
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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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