On July 29, Manhattan Associates rose 8.05% in pre-market trading, trading at $181.91/share. The surge was driven by the company's strong Q2 earnings report that exceeded market expectations on all key metrics.
Manhattan Associates reported Q2 adjusted earnings of $1.39 per share, beating the consensus estimate of $1.32 by 5.3% and rising 6.11% year-over-year from $1.31. Revenue reached $297.8 million, surpassing the $287.9 million estimate by approximately 3.4% and up from $272.4 million a year earlier. This marks the second consecutive quarter of significant outperformance, following a 10.71% EPS beat in the prior quarter.
Additionally, management raised full-year revenue guidance to $1.16 billion-$1.17 billion, above the Street estimate of $1.15 billion, and lifted adjusted EPS guidance to $5.44-$5.50 versus the $5.37 consensus. The company also noted confidence in its business momentum despite ongoing global macro volatility. Previously announced measures including a roughly 6% workforce reduction and an expanded $500 million share buyback program further reinforced market confidence in long-term value creation.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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