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Aspen Technology, Inc. (symbol: AZPN) is a global leader in asset optimization software, providing solutions that enhance the performance, monitoring, management, and optimization of assets in capital-intensive industries. Founded in 1981, AspenTech's heritage business focuses on optimizing engineering, manufacturing, supply chain, and asset management functions. The company's cutting-edge solutions empower clients to design, operate, and maintain their operations, achieving goals in profitability, safety, and sustainability.
In 2021, AspenTech underwent a significant transformation when Emerson Electric acquired a 55% stake in the company through a $6 billion transaction, which included Emerson's Open Systems International (OSI) and subsurface science and engineering (SSE) businesses. This merger created a new AspenTech, combining the capabilities of the heritage Aspen, OSI, and SSE to serve over 3,000 customers across 40 countries.
Today, AspenTech continues to innovate and expand its product offerings, helping industries ranging from chemicals and energy to pharmaceuticals and mining. The company's software solutions are specifically designed to optimize asset performance, improve operational efficiency, and enhance sustainability efforts. With a strong financial foundation and strategic partnerships, AspenTech is well-positioned to continue leading the market in asset optimization.
Recent achievements include notable advancements in digital grid management through OSI and enhanced capabilities in subsurface science via SSE. These developments align with AspenTech's commitment to providing comprehensive solutions that address the evolving needs of modern industries. The company's ongoing projects and initiatives reflect its dedication to driving growth and delivering value to its customers and shareholders.
Latest News:
- ST. LOUIS, Feb. 7, 2024 — Emerson reported first-quarter results for the fiscal year 2024, highlighting exceptional performance in key financial metrics.
- ST. LOUIS, May 8, 2024 — Emerson announced second-quarter results for the fiscal year 2024, showcasing continued sales growth and margin expansion.
AspenTech (NASDAQ: AZPN) held its 2024 Investor Day, outlining its value creation strategy and financial outlook. The company reaffirmed its fiscal 2025 outlook and provided a multi-year financial framework, targeting high-single-digits to double-digits Annual Contract Value (ACV) growth, 45-47% ACV margin, and mid-teens free cash flow growth.
AspenTech aims to capitalize on a $15-16 billion addressable market, focusing on driving ACV growth, expanding margins, and executing disciplined capital allocation. The company plans to leverage its partnership with Emerson, pursue innovation in Industrial AI, and execute value-creating M&A to strengthen its position in the industrial software market.
Aspen Technology (NASDAQ: AZPN), a global leader in industrial software, has announced that its President and CEO, Antonio Pietri, will be presenting at the Piper Sandler Growth Frontiers Conference in Nashville, TN. The presentation is scheduled for Wednesday, September 11, 2024, at 12:30 p.m. ET (11:30 a.m. CT).
Investors and interested parties can access the live webcast of the presentation through the Webcasts and Events section of AspenTech's Investor Relations website at https://ir.aspentech.com/events-presentations/webcasts-and-events. The webcast will be available for a time after the event.
Aspen Technology (NASDAQ: AZPN), a global leader in industrial software, has announced its 2024 Investor Day scheduled for Tuesday, September 17, 2024. The event will run from 1:00 pm to 5:00 pm ET, featuring presentations from key executives including Antonio Pietri, President and CEO, and David Baker, CFO.
The Investor Day will cover strategic priorities, business growth drivers, product innovation, and financial outlook. A Q&A session will follow the presentations. The event will be webcast and available for a time on AspenTech's Investor Relations website.
Aspen Technology, Inc. (NASDAQ:AZPN) has expanded its strategic partnership with Omaha Public Power District (OPPD) to support the utility's goal of net zero carbon production by 2050. AspenTech will provide its Digital Grid Management (DGM) software suite to monitor, schedule, and control distributed energy resources (DERs) on OPPD's grid while maintaining reliability for 885,000 people across 5,000 square miles in Nebraska.
OPPD will use AspenTech OSI Distributed Energy Resource Management System™ to manage DER assets within a single platform, integrating with AspenTech's generation, transmission, advanced distribution management, and outage management systems. This comprehensive solution aims to provide real-time control and optimization across OPPD's grid, supporting its transition to renewable energy while ensuring dependable service.
Emerson (NYSE: EMR) reported strong Q3 2024 results, with net sales up 11% to $4,380 million and underlying sales growth of 3%. The company's adjusted earnings per share increased 11% to $1.43, while operating cash flow rose 27% to $1,067 million. Emerson updated its fiscal 2024 outlook, projecting net sales growth of ~15% and adjusted EPS of $5.45 - $5.50.
The company also announced progress on its portfolio simplification, including a definitive agreement to exit the Copeland business. Emerson completed the sale of the Copeland Note Receivable for $1.9 billion and expects to close the sale of its 40% equity stake for $1.5 billion by August end. The total after-tax proceeds of $2.9 billion will be used to pay down debt.
Aspen Technology (NASDAQ: AZPN) reported financial results for Q4 and fiscal year ended June 30, 2024. The company achieved significant growth with Annual Contract Value (ACV) reaching $968.4M, up 9.4% YoY. Excluding Russia-based ACV, ACV grew by 10% YoY. Revenue for Q4 was $342.9M; License and solutions revenue increased to $231M, and maintenance revenue rose to $89.2M. Net income for Q4 was $44.7M ($0.70 per share). Free cash flow for fiscal year was $335.3M, up 14.7% YoY. Share repurchase authorization of up to $100M was approved for fiscal 2025. The company ceased all commercial activities in Russia, resulting in a $35.5M ACV write-off. Fiscal 2025 guidance includes 9% ACV growth and estimated total revenue of $1.19B.
Aspen Technology (NASDAQ: AZPN), a leader in industrial software, has announced the release date for its fourth-quarter and fiscal year 2024 financial results. The company will disclose its financial performance on Tuesday, August 6, 2024, after the U.S. financial markets close. Following the release, AspenTech will host a conference call and webcast at 4:30 p.m. ET to discuss the results, business outlook, and related matters.
Investors and interested parties can access the live webcast through AspenTech's Investor Relations website. A phone-in option is also available, with participants encouraged to dial in 15 minutes before the scheduled start time. For those unable to attend live, a replay of the webcast will be accessible for a time on the company's investor relations page.
Aspen Technology, a leader in industrial software, announced a three-year partnership with Oregon State University (OSU) aimed at incorporating sustainability software into the engineering curriculum. The initiative is designed to build industry-ready skills in students to accelerate impact on net-zero initiatives. The collaboration will focus on digital competencies important for sustainability in asset-intensive industries. This partnership is part of AspenTech's broader efforts, which also include collaborations with international universities like King Fahd University and training programs that have reached over 3,700 individuals to address industry skill gaps.
Aspen Technology (NASDAQ: AZPN) has launched aspenONE V14.3 in May 2024, enhancing their asset optimization solutions. The update includes expanded Industrial AI, improved planning and scheduling, and better integration of industrial data management. Enhancements in Aspen Unified aim to streamline user workflows, optimize operations, and support sustainability goals. New features like Aspen Virtual Advisor and updates to Aspen Mtell and AspenTech Inmation promise increased efficiency and cost reduction. The launch follows the OPTIMIZE 24 event, emphasizing technology's role in achieving business excellence and greener operations.
Aspen Technology (NASDAQ: AZPN), a leading industrial software company, has announced that its CEO, Antonio Pietri, will present at two upcoming investor conferences. These conferences are the Baird Global Consumer, Technology & Services Conference in New York on June 4, 2024, at 4:55 p.m. ET, and the William Blair Growth Stock Conference in Chicago on June 5, 2024, at 10:00 a.m. CT. Both presentations will be webcast live and available on the company's Investor Relations website for a time.