On July 29, Manhattan Associates rose 6.24% overnight, trading at $178.67/share. The rally was driven by the company's stronger-than-expected second quarter results and an upward revision to full-year guidance.
Manhattan Associates reported Q2 adjusted earnings of $1.39 per share, beating the consensus estimate of $1.32 by 5.3% and representing a 6.11% year-over-year increase from $1.31. Revenue came in at $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 Q1. The company raised its full-year revenue guidance to $1.16 billion to $1.17 billion, above the FactSet consensus of $1.15 billion, and expects adjusted EPS of $5.44 to $5.50 versus the $5.37 estimate.
Management noted that while remaining vigilant about ongoing global macro volatility, it remains confident in its business momentum. The company had previously announced a 6% workforce reduction and a $500 million share buyback program, further reinforcing 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.)
Comments