Ansys to Release First Quarter 2024 Earnings on May 1, 2024

Rhea-AI Summary

ANSYS, Inc. (NASDAQ: ANSS) is set to release its first quarter 2024 earnings on May 1, 2024. The company has suspended quarterly earnings conference calls and no longer provides guidance due to the pending transaction with Synopsys, Inc. The agreement with Synopsys involves an acquisition where Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share, amounting to an enterprise value of $35.0 billion. The transaction is expected to close in the first half of 2025, subject to shareholder and regulatory approval.

Positive

• Ansys is expected to release its first quarter 2024 earnings on May 1, 2024.
• The company has suspended quarterly earnings conference calls and guidance due to a pending transaction with Synopsys, Inc.
• Under the agreement with Synopsys, Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share.
• The transaction is anticipated to close in the first half of 2025, subject to approval by Ansys shareholders and regulatory authorities.

Negative

• None.

Insights

Financial Analyst

The announcement of Ansys releasing its first-quarter earnings is a precursor to evaluating the company's financial health. Given the suspension of quarterly earnings calls and guidance, investors should rely on the 10-Q filing for a comprehensive overview of the company's financial performance. The lack of forward-looking statements from the company warrants a closer examination of the balance sheet, income statement and cash flow statement for indicators of financial stability, particularly in the context of the upcoming acquisition by Synopsys. The acquisition details suggest a significant premium for Ansys shareholders, a move that usually indicates confidence in Ansys' intrinsic value and future potential. However, investors should scrutinize the terms of the acquisition to understand the immediate and future financial implications, such as the impact on their portfolio's diversification, tax considerations from the cash payout and the potential for dilution from the stock component of the deal.

Mergers & Acquisitions Analyst

The acquisition of Ansys by Synopsys represents a transformative event with the potential to reshape the competitive landscape within the simulation and analysis industry. It is imperative to dissect the strategic rationale behind the deal. Combining Synopsys' capabilities in semiconductor electronic design automation with Ansys' simulation expertise could drive synergies and unlock new revenue streams, positioning the merged entity at the forefront of silicon to systems design solutions. While the transaction is poised to create a new industry leader, it is essential to be cognizant of the regulatory hurdles the deal might face, which could affect the timeline and even the finalization of the acquisition. Furthermore, the impact on Ansys' stock price leading up to the transaction's close should be monitored, as it may fluctuate based on market sentiment, regulatory news and Synopsys' stock performance.

PITTSBURGH, April 18, 2024 /PRNewswire/ -- ANSYS, Inc. (NASDAQ: ANSS) announced today that the Company expects to release its first quarter earnings on Wednesday, May 1, 2024, after the market closes. As previously announced, in light of the pending transaction with Synopsys, Inc. (Synopsys), Ansys has suspended quarterly earnings conference calls and no longer provides quarterly or annual guidance.

After the market closes on Wednesday, May 1, 2024, you can find the following information on the investor section of our website at https://investors.ansys.com: the earnings press release and the 10-Q filing.

/ Additional information: Synopsys to acquire Ansys

On January 15, 2024, the Company entered into a definitive agreement with Synopsys under which Synopsys will acquire Ansys. Under the terms of the agreement, Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share, representing an enterprise value of $35.0 billion based on the closing price of Synopsys common stock on December 21, 2023. The transaction is anticipated to close in the first half of 2025, subject to approval by Ansys shareholders, the receipt of required regulatory approvals and other customary closing conditions. Bringing together Synopsys' pioneering semiconductor electronic design automation with Ansys' broad simulation and analysis portfolio will create a leader in silicon to systems design solutions.

/ About Ansys

Our Mission: Powering Innovation that Drives Human Advancement™

When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.

Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.

ANSS–F

/ Contacts

Investors         
Kelsey DeBriyn
724.820.3927
kelsey.debriyn@ansys.com 

Media                         
Mary Kate Joyce
724.820.4368
marykate.joyce@ansys.com

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SOURCE Ansys

FAQ

When will ANSYS release its first quarter 2024 earnings?

ANSYS is expected to release its first quarter 2024 earnings on May 1, 2024.

What is the pending transaction with Synopsys, Inc. about?

The pending transaction with Synopsys, Inc. involves an acquisition where Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share.

What is the expected enterprise value of the transaction?

The expected enterprise value of the transaction is $35.0 billion.

When is the transaction anticipated to close?

The transaction is anticipated to close in the first half of 2025, subject to approval by Ansys shareholders and regulatory authorities.