Manhattan Associates Inc (NAS:MANH)
$ 284.5 1.42 (0.5%) Market Cap: 17.38 Bil Enterprise Value: 17.10 Bil PE Ratio: 80.82 PB Ratio: 62.53 GF Score: 96/100
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Q2 2024 Manhattan Associates Inc Earnings Call Transcript

Jul 23, 2024 / 08:30PM GMT
Release Date Price: $226 (+0.38%)

Key Points

Positve
  • Manhattan Associates Inc (MANH) delivered record Q2 and first half results with total revenue increasing 15% to $265 million.
  • Adjusted earnings per share increased 34% to $1.18, exceeding expectations.
  • Cloud revenue grew by 35% and services revenue by 10%, driving top-line performance.
  • The company achieved double-digit top-line growth across all geographies.
  • Manhattan Associates Inc (MANH) has a robust demand for its solutions, high customer satisfaction, and continues to invest in R&D.
Negative
  • The global macro environment remains volatile, which could impact future performance.
  • Some deals were pushed into future periods, indicating potential delays in revenue recognition.
  • The Chinese market is relatively flat, though it constitutes a small portion of the business.
  • Attrition rates, while lower than forecasted, still necessitate ongoing hiring to maintain service levels.
  • The company faces a 120 basis points headwind from license and maintenance revenue attrition due to the cloud transition.
Operator

Good afternoon. My name is Alicia, and I'll be your conference facilitator today. This time, I would like to welcome everyone to the Manhattan Associates Q2 2024 conference call. (Operator Instructions)

As a reminder, ladies and gentlemen, this call is being recorded today, July 23, 2024. I would now like to introduce you to your host, Michael Bauer, Head of Investor Relations of Manhattan Associates. Mr. Bauer, you may begin your conference.

Michael Bauer
Manhattan Associates Inc - Senior Director, Investor Relations

Great. Thanks, Alicia, and good afternoon, everyone. Welcome to Manhattan Associates' 2024 second-quarter earnings call. I will review our cautionary language and then turn the call Eddie Capel, our CEO. During this call, including the question-and-answer session, we may make forward-looking statements regarding future events or the future financial performance of Manhattan Associates.

Your caution that these forward-looking statements involve risks and uncertainties are not guarantees of future performance and that actual

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