Bentley Systems Q3 revenue rises 12%, slightly beats estimates

Bentley Systems, Incorporated

Thu 12:35

Overview
Infrastructure engineering software firm's Q3 revenue rose 12%, slightly beating analyst expectations
Adjusted EPS for Q3 rose to $0.36 from $0.27 a year ago
Company completed Cohesive divestiture and acquired Eliis for seismic interpretation software

Outlook
Company raises constant currency ARR growth outlook to 12.5-13.5% excluding Cohesive divestiture
Company expects revenues, AOI less Operating SBC and free cash flow to meet outlook ranges
Company sees continued momentum in Resources and Public Works & Utilities end markets

Result Drivers
SECTOR DEMAND - Co said growth was driven by strength in Resources and ongoing momentum in Public Works & Utilities, with increased infrastructure investment for AI
END MARKET ROBUSTNESS - Co attributed ARR growth to robust end markets and customer confidence in infrastructure AI

Company press release: ID:nBw489YN6a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$421.51 mln
$420.76 mln (14 Analysts)
Q3 Net Income
 
$90 mln
 
Q3 EBIT
 
$122.62 mln
 
Q3 Gross Profit
 
$349.55 mln
 
Q3 Pretax Profit
 
$115.54 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Bentley Systems, Incorporated is $44.43, about 1.8% above its November 4 closing price of $43.64
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 24 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)