Manhattan Associates Climbs as Supply-Chain Software Demand Surges

The company reported quarterly revenue of $297.8 million, comfortably exceeding the $287.7 million expected by analysts. Adjusted earnings reached $1.39 a share, topping the consensus estimate of $1.32. This growth was driven largely by a sharp increase in cloud subscriptions, which rose to $126.7 million from $100.4 million in the same period last year. Total services revenue also saw a healthy bump, climbing to $133 million.

Bolstered by these results, management revised its full-year revenue growth forecast to a range of 7% to 8%, targeting a total between $1.16 billion and $1.17 billion. The updated guidance for adjusted earnings now sits between $5.44 and $5.50 per share, surpassing previous estimates of $5.29 to $5.37. With $2.47 billion in remaining performance obligations, the firm enters the second half of the year with a substantial backlog of contracted work.