Manhattan Associates: Jumps on better-than expected Q1 profit, revenue

Manhattan Associates

22/04/2020 18:54

** Shares of supply chain solutions company  MANH.O  jump
11.7% to $58.08
    ** MANH posts Q1 adj profit of 40 cents/shr, beating analyst
est of 33 cents/shr; Q1 revenue of $153.9 mln, above Refinitiv
IBES est of $152.5 mln  urn:newsml:reuters.com:*:nASA00LCV
    ** Company beats revenue est for sixth straight quarter,
aided by jump in cloud subscription revenue; outpaces profit
estimates for eighth straight quarter - Refinitiv data
    ** Expects 2020 adj EPS between $1.50-$1.58, vs est
$1.43/shr; sees FY revenue between $541 mln-$565 mln, vs est
$556.34 mln - Refinitiv data
    ** We are seeing some shifts in expected timing of deal
closings from Q2 to H2 and delays of some services projects, but
in general, no cancellations and seeing a larger pipeline of
opportunities for rest of year, vs a quarter ago - CEO Eddie
Capel
    ** Benchmark raises PT on stock by $10 to $61
    ** MANH has fallen ~26.4% so far this year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062;))