Welcome to our dedicated page for Aspen Technology news (Ticker: AZPN), a resource for investors and traders seeking the latest updates and insights on Aspen Technology stock.
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.
Aspen Technology (NASDAQ: AZPN) reported third-quarter fiscal 2023 results, highlighting an 11.2% increase in annual contract value (ACV) to $854.6 million. The company generated $229.9 million in total revenue, with license and solutions revenue soaring to $136.3 million, up from $50.8 million YoY. Despite a net loss of $57.6 million ($0.89 per share), AspenTech reported $69.1 million in non-GAAP net income, translating to $1.06 per share. Cash flow from operations reached $131 million with free cash flow at $129.3 million. Looking ahead, the company anticipates 11% to 12% ACV growth year-over-year and projects total revenue between $1.04 and $1.06 billion. AspenTech is optimistic about its strategic position in the industrial software market amidst increasing technology investments driven by sustainability needs.
Aspen Technology, Inc. (NASDAQ: AZPN) has announced the upcoming release of its financial results for the third quarter of fiscal 2023, which ended on March 31, 2023. This will occur after U.S. markets close on April 26, 2023. Following the release, AspenTech will host a conference call and webcast at 4:30 p.m. ET on the same day to discuss the financial results and business outlook. Investors can access the conference call either via a registration link or through the Investor Relations website. AspenTech continues to address critical challenges in resource optimization and sustainability across capital-intensive industries.
Spatial Business Systems LLC (SBS), a leader in intelligent design software for utilities, has appointed Al Eliasen as President. With over 30 years of experience, Eliasen recently served as President of OSI, part of Aspen Technology (NASDAQ:AZPN), known for open automation and network control solutions. He expressed enthusiasm about joining SBS, focusing on its growth and innovation in the utilities sector. Dennis Beck, CEO and Co-Founder of SBS, anticipates a collaborative effort with Eliasen to drive transformational growth. SBS provides software solutions to over 200 enterprise customers globally, enhancing engineering and design processes for critical infrastructure.
Aspen Technology, Inc. (NASDAQ:AZPN), a leader in industrial software, will have CFO Chantelle Breithaupt present at the Bank of America Global Industrials Conference in London. The presentation is set for Thursday, March 23, 2023, at 10:35 a.m. GMT (6:35 a.m. ET). The event will be webcast live, and a recording will be available for a limited time on the company’s Investor Relations website. AspenTech focuses on helping asset-intensive industries optimize operational efficiency while promoting sustainability and safety.
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