MANH - Manhattan Associates stock heads higher on earnings beat bullish outlook

• Manhattan Associates ( NASDAQ: MANH ) is up 7.2% premarket , Wednesday, after topping analysts estimates for second quarter earnings and raising full-year financial outlook
• The Georgia-based company that develops software for supply chains management reported 15.5% growth in revenue to $191.9M, notching $11.86M beat on analysts expectations for Q2 2022.
• Alongside, EPS of $0.69 edged out estimates by $0.15 .
• Revenue by segment: Cloud subscription revenue, $42.2M (+47.6% Y/Y); License revenue, $5.1M (-42% Y/Y); Services revenue, $100.9M (+19.12M Y/Y).
• PRO bookings rose 84% Y/Y
• Adjusted operating income was $52.8M for Q2 2022, compared to $50.2M a year-ago.
• For the quarter ended 30 June 2022, the company repurchased $50.1M of its shares. In July, has raised its buyback program to repurchase up to total of $75M shares.
• “While we continue to operate in a turbulent global macro environment, our teams are executing very well for our customers, and demand for our cloud-native solutions remains robust. With our business fundamentals strengthening and revenue visibility increasing, we are again raising our 2022 guidance,” said Manhattan Associates president and CEO Eddie Capel.
• Raised FY 2022 Guidance: Revenue expected to range between $733-$741M (+10% to 12%), vs. prior guidance of $720-$727M, vs. consensus of $733.69M .
• GAAP operating margin projected to be within 17.4% - 17.6% vs. prior outlook of 16% - 16.7%; and Adjusted operating margin of 25.5% - 25.7% vs. prior 24.2% - 24.8%;
• GAAP EPS of $1.63-$1.67, vs prior forecast of $1.45-$1.53; and Non-GAAP to range between $2.35-$2.39 (+5% to 7%), vs. prior guidance range of $2.14-$2.22, vs. consensus of $2.38.

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