NASDAQ$MANH
Manhattan Associates Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Manhattan Associates reported record revenue and earnings, driven by strong demand and growth in cloud and service revenues. The company raised its full-year guidance for 2023.
Manhattan Associates reported a strong second quarter with record revenue of $231.0 million, a 20.4% increase compared to Q2 2022. GAAP EPS was $0.63, and non-GAAP EPS was $0.88. The company's performance was driven by robust demand, with cloud revenue growing by 44% and service revenue by 23%.
- Consolidated total revenue reached $231.0 million, up from $191.9 million in Q2 2022.
- Cloud subscription revenue increased to $60.9 million, compared to $42.2 million in the prior year.
- GAAP diluted earnings per share was $0.63, compared to $0.49 in Q2 2022.
- RPO bookings increased 38% over prior year on strong demand.
Headline financials
Revenue & EPS history
Manhattan Associates · Revenue · Quarterly
$231M
Revenue by segment
Manhattan Associates · $231M total across 5 segments · Q2 2023
- Services$125M+23.4%54.0%
- Cloud subscriptions$60.9M+44.3%26.4%
- Maintenance$35.8M-0.5%15.5%
- Hardware$5.89M-23.1%2.6%
- Software license$3.7M-27.8%1.6%
Forward guidance
Manhattan Associates provides revenue, operating margin, and diluted earnings per share guidance for the full year 2023.
Tailwinds
- Total revenue is expected to be in the range of $886 million to $894 million, representing a growth of 15% to 17%.
- GAAP operating margin is projected to be between 19.5% and 19.8%.
- Adjusted operating margin is anticipated to be in the range of 27.4% to 27.6%.
- GAAP EPS is expected to be between $2.18 and $2.22, a growth of 7% to 9%.
- Adjusted EPS is projected to be in the range of $3.07 to $3.11, reflecting an 11% to 13% increase.
Headwinds
- Equity-based compensation is expected to be 7.9% to 7.8%.
- Excess tax benefit on stock vesting is expected to be ($0.06).
- The guidance does not reflect the potential impact of mergers, acquisitions, or other business combinations.
- Actual results may differ materially due to economic conditions, competition, and other risk factors.
- Currency Fluctuation
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.7%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+0.7%
Avg return
30 days after
50%
33 / 66 earnings
Positive
+19.5%
Q2 2019
Best reaction
-24.5%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.0% | +2.2% | +2.6% | |
| Q4 2025 | -5.1% | -11.2% | -20.2% | |
| Q3 2025 | -5.0% | -8.0% | -16.7% | |
| Q2 2025 | -0.2% | -1.5% | +0.4% | |
| Q1 2025 | +6.0% | +7.5% | +14.2% | |
| Q4 2024 | -24.5% | -32.1% | -40.1% | |
| Q3 2024 | -8.2% | -6.7% | -8.0% | |
| Q2 2024 | +11.0% | +14.8% | +15.3% | |
| Q1 2024 | -9.6% | -8.5% | -1.3% | |
| Q4 2023 | +7.4% | +10.9% | +12.1% | |
| Q3 2023 | +4.7% | +2.2% | +20.4% | |
| Q2 2023 | -1.9% | -3.0% | -1.2% | |
| Q1 2023 | +6.4% | +6.4% | +12.9% | |
| Q4 2022 | +9.8% | +7.0% | +7.9% | |
| Q3 2022 | -7.9% | -6.4% | -3.7% | |
| Q2 2022 | +15.5% | +18.2% | +24.7% | |
| Q1 2022 | -3.9% | -3.1% | -11.6% | |
| Q4 2021 | -4.7% | -3.5% | -0.2% | |
| Q3 2021 | +5.6% | +6.7% | -5.3% | |
| Q2 2021 | +6.1% | +8.4% | +10.6% | |
| Q1 2021 | +12.3% | +7.0% | +5.8% | |
| Q4 2020 | +3.5% | +13.1% | -0.9% | |
| Q3 2020 | -1.2% | -7.4% | -2.8% | |
| Q2 2020 | -1.0% | -1.3% | -2.4% | |
| Q1 2020 | +4.8% | +5.0% | +38.7% | |
| Q4 2019 | -10.4% | -12.1% | -22.6% | |
| Q3 2019 | -2.3% | +0.4% | +3.3% | |
| Q2 2019 | +19.5% | +23.2% | +19.0% | |
| Q1 2019 | +11.3% | +12.2% | +9.2% | |
| Q4 2018 | -4.9% | +0.1% | +4.5% | |
| Q3 2018 | -7.3% | -5.6% | -1.3% | |
| Q2 2018 | -4.3% | -2.8% | +11.5% | |
| Q1 2018 | +1.0% | +4.4% | +3.4% | |
| Q4 2017 | -16.4% | -17.6% | -10.3% | |
| Q3 2017 | -6.9% | -9.7% | -10.3% | |
| Q2 2017 | -8.1% | -4.6% | -11.6% | |
| Q1 2017 | -9.5% | -8.0% | -6.1% | |
| Q4 2016 | -6.9% | -4.4% | -0.7% | |
| Q3 2016 | -8.7% | -10.1% | -6.9% | |
| Q2 2016 | -4.0% | -6.1% | -5.8% | |
| Q1 2016 | +15.0% | — | — | |
| Q4 2015 | -2.0% | — | — | |
| Q3 2015 | +2.7% | — | — | |
| Q2 2015 | +9.1% | — | — | |
| Q1 2015 | -3.1% | — | — | |
| Q4 2014 | +12.1% | — | — | |
| Q3 2014 | +4.7% | — | — | |
| Q2 2014 | -0.7% | — | — | |
| Q1 2014 | +1.5% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q3 2013 | +15.8% | — | — | |
| Q2 2013 | +2.6% | — | — | |
| Q1 2013 | -0.7% | — | — | |
| Q4 2012 | +8.1% | — | — | |
| Q3 2012 | -0.2% | — | — | |
| Q2 2012 | +8.5% | — | — | |
| Q1 2011 | -0.3% | — | — | |
| Q1 2012 | +2.7% | — | — | |
| Q4 2009 | +1.8% | — | — | |
| Q1 2010 | +1.8% | — | — | |
| Q4 2011 | +1.8% | — | — | |
| Q3 2010 | -0.6% | — | — | |
| Q3 2011 | -0.6% | — | — | |
| Q2 2010 | +0.6% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q2 2011 | +0.6% | — | — |
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