Manhattan Associates Inc. (MANH) Surged in After-Hours Trading Today

Manhattan Associates Inc. (MANH) experienced a remarkable uptick in its stock value during after-hours trading, as investor confidence seemed to rally behind the company’s recent developments. The share price reached an exhilarating high of $253.00, marking a $29.22 or 13.06% climb from its previous close. This surge, supported by a trading volume of 15.52K, signifies a strong investor response, potentially driven by the company’s latest news or financial disclosures.

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This significant change in after-hours trading positions Manhattan Associates for what could be a dynamic start in the next day’s market session.

What Happened Recently?

On January 30, 2024, Manhattan Associates Inc. (NASDAQ: MANH), a front-runner in supply chain and omnichannel commerce solutions, announced a robust financial performance for the final quarter of 2023.

The company ended the quarter on December 31 with revenues soaring to $238.3 million. Reflecting a profitable trend, the GAAP diluted earnings per share jumped to $0.78, up from $0.60 in the same quarter the previous year.

Similarly, the non-GAAP adjusted diluted earnings stood impressively at $1.03 per share, climbing from $0.81 in the fourth quarter of 2022.

Diving deeper into the quarterly financials:

  • The total consolidated revenue of $238.3 million for Q4 2023 was a noticeable increase from $198.1 million in the same period in 2022.
  • Cloud subscription revenue, a critical indicator of the company’s growth, reached $71.4 million, up from $51.7 million year-over-year.
  • License revenue showed steady performance, marking a slight increase to $5.2 million from $5.0 million.
  • The services segment brought in $119.1 million, a substantial climb from $99.8 million in the prior year’s quarter.
  • On the earnings front, the GAAP diluted EPS saw a significant rise to $0.78, while the adjusted EPS, which offers a perspective excluding certain items, rose to $1.03.
  • The company’s operational efficiency was reflected in the GAAP operating income of $58.9 million and an adjusted operating income of $76.8 million, both marking increases from the previous year.
  • Cash flow from operations stood at a strong $88.4 million, and the company boasted a healthy cash position of $270.7 million at the close of the quarter.
  • Interestingly, Manhattan Associates did not engage in stock buybacks during the quarter, maintaining a $75 million repurchase authority for future consideration.

Manhattan Associates’ financial health as it entered the new year was robust, setting a positive tone for its business trajectory in 2024.

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