MANH - Why Manhattan Associates Stock Popped 10% Today
2023-04-26 12:22:04 ET
Shares of supply chain software company Manhattan Associates (NASDAQ: MANH) surged 9.9% through 11:30 a.m. ET after the company reported a big earnings beat last night.
Heading into earnings, analysts had forecast Manhattan Associates would earn only $0.64 per share (adjusted) on sales of $200.5 million. In fact, the company's adjusted earnings turned out to be $0.80 per share -- up 25%, and 33% better than last year's adjusted profit -- on sales of $221 million.
Granted, the news wasn't quite as good as those numbers make it sound. When calculated according to generally accepted accounting principles ( GAAP ), Manhattan's per-share profit was only $0.62 -- not $0.80. But even so, this was a very considerable 29% jump from last year's Q1 GAAP profit of $0.48 per share. Sales growth, too, was quite brisk, up 23.5% year over year.
For further details see:
Why Manhattan Associates Stock Popped 10% Today