Welcome to our dedicated page for Bentley Systems, Incorporated Class B news (Ticker: BSY), a resource for investors and traders seeking the latest updates and insights on Bentley Systems, Incorporated Class B stock.
Bentley Systems, Incorporated (symbol: BSY) is a global leader in providing comprehensive software solutions designed to support architects, engineers, geospatial professionals, constructors, and owner-operators in the design, construction, and operations of infrastructure. The company's offerings enable users to leverage information mobility across various disciplines and throughout the entire infrastructure lifecycle, ensuring better-performing projects and asset management.
Bentley's key products include MicroStation applications for information modeling, ProjectWise collaboration services for integrated project delivery, and AssetWise operations services to achieve intelligent infrastructure management. These solutions are complemented by Bentley's worldwide professional services and comprehensive managed services, ensuring robust support and service for users globally.
Bentley Systems is renowned for its strong commitment to its user community, delivering not just high-quality and integrated software solutions, but also pairing these products with exceptional service and support. The company offers a broad range of products via the cloud, desktop, and hybrid environments, catering to specific needs such as bridge and rail design.
Despite being relatively smaller than some of its peers, like Autodesk, Bentley Systems excels in its core specialty areas and has established a strong global presence. As of fiscal 2022, approximately 58% of the company's revenue was derived from outside the U.S., with significant contributions from regions such as EMEA (28%) and APAC (18%). The public works and utilities sector stands out as Bentley's largest end market, accounting for about two-thirds of the company's revenue.
With its focus on innovation and user-centric solutions, Bentley Systems continues to advance the infrastructure design and management industry, ensuring that its users can achieve unparalleled efficiency and performance in their projects.
Bentley Systems (Nasdaq: BSY) has acquired 3D geospatial company Cesium, enhancing its digital twin capabilities. Cesium's open platform for 3D geospatial applications and its widely adopted 3D Tiles standard will be integrated with Bentley's iTwin Platform. This combination enables developers to create comprehensive digital twins of infrastructure networks and assets, offering enhanced visualization and decision-making tools.
The acquisition aims to provide a seamless alignment of 3D geospatial data with engineering, subsurface, IoT, reality, and enterprise data. Cesium's CEO, Patrick Cozzi, joins Bentley as chief platform officer. The move is expected to benefit clients like Komatsu, expanding their access to advanced digital twin technology for construction site monitoring and management.
Bentley Systems, Incorporated (Nasdaq: BSY), an infrastructure engineering software company, has announced a $0.06 per share dividend for the third quarter of 2024. This cash dividend will be payable on September 26, 2024, to all stockholders of record of Class A and Class B common stock as of the close of business on September 17, 2024. The declaration of this dividend by the Board of Directors demonstrates the company's commitment to returning value to shareholders and may indicate confidence in the company's financial stability and future prospects.
Bentley Systems (Nasdaq: BSY) has announced the finalists for the 2024 Going Digital Awards, showcasing innovative infrastructure projects worldwide. 36 finalists across 12 categories were selected from over 250 nominations from 36 countries. The winners will be revealed on October 9, 2024, at the JW Marriott Parq Vancouver during Bentley's Year in Infrastructure event.
The awards highlight projects utilizing advanced technologies like AI, digital twins, and immersive visualizations to enhance infrastructure development. Finalists represent diverse sectors including bridges, construction, facilities, power generation, rail, roads, structural engineering, and water management. The event celebrates the extraordinary work of Bentley's global users in advancing infrastructure for improved quality of life.
Bentley Systems (Nasdaq: BSY) reported strong Q2 2024 results with total revenues up 11.3% to $330.3 million. Subscription revenues grew 14.7% to $297.4 million, while Annualized Recurring Revenue (ARR) increased to $1,215.9 million, representing 11% constant currency growth. The company's operating income margin improved to 24.3% from 18.0% year-over-year, and adjusted EPS rose to $0.31 from $0.24.
Key growth drivers included Public Works/Utilities and North America, with rapid addition of new small and medium-sized accounts. The company highlighted traction in AI-based solutions for asset analytics. With the leadership transition, Greg Bentley became Executive Chair and Nicholas Cumins was promoted to CEO, expressing confidence in sustaining performance and exploring long-term growth initiatives.
Bentley Systems (Nasdaq: BSY) has been selected by the Pennsylvania Department of Transportation (PennDOT) for state-wide civil design solutions, extending their long-standing relationship. PennDOT has transitioned to Bentley's OpenRoads 3D design software and ProjectWise for CADD data management to support various engineering disciplines. This contract aims to accelerate infrastructure projects funded by the Infrastructure Investment and Jobs Act (IIJA).
Bentley has partnered with Pennsylvania firms Cedarville Engineering Group and Honor Engineer Company for this contract. PennDOT officials, including Secretary Mike Carroll, visited Bentley's headquarters to discuss the department's embrace of digital capabilities to improve project delivery.
Bentley Systems (Nasdaq: BSY), an infrastructure engineering software company, has announced it will release its second quarter 2024 financial results on Tuesday, August 6, 2024, before the market opens. The company's senior management will host a webcast at 8:15 a.m. ET to discuss the results. Investors and interested parties can access the results press release and webcast link on Bentley's investor relations website prior to the start of the webcast. A replay of the webcast will be available later the same day on the company's investor relations website.
Nicholas Cumins has officially taken over as CEO of Bentley Systems (NASDAQ: BSY), succeeding Greg Bentley, who now serves as Executive Chair of the Board of Directors. Cumins is the first non-family member to lead the company in its 40-year history. The transition comes at a important time for the infrastructure sector, with a shortage of engineers to meet global sustainability goals and aging infrastructure needs. Cumins unveiled Bentley's vision for resilience in infrastructure, emphasizing AI-powered digital twin solutions to optimize asset performance and sustainability. Cumins brings significant experience from his previous roles, including COO of Bentley Systems since January 2022 and Chief Product Officer at SAP and OpenX.
Bentley Systems (Nasdaq: BSY) has declared a dividend of $0.06 per share for the second quarter of 2024.
The dividend will be payable on June 13, 2024, to all stockholders of Class A and Class B common stock as of June 4, 2024.
Bentley Systems, Incorporated reported positive financial results for the first quarter of 2024, with total revenues of $337.8 million, a 7.4% increase year-over-year. Subscriptions revenues were up by 10.5%, reaching $307.1 million. The company's Annualized Recurring Revenues (ARR) grew by 11% to $1,186.5 million. Operating income margin improved to 27.2%, and adjusted operating income margin increased to 33.3%. Net income per diluted share rose to $0.22, while adjusted net income per diluted share was $0.31. Cash flows from operations also saw a significant increase to $205.0 million.
FAQ
What is the current stock price of Bentley Systems, Incorporated Class B (BSY)?
What is the market cap of Bentley Systems, Incorporated Class B (BSY)?
What does Bentley Systems, Incorporated do?
What are the key products offered by Bentley Systems?
What sectors does Bentley Systems, Incorporated serve?
How does Bentley Systems support its users?
Where does Bentley Systems generate most of its revenue?
What distinguishes Bentley Systems from its competitors?
How does Bentley Systems deliver its solutions?
What is Bentley Systems' largest end market?
What is Bentley Systems' commitment to its user community?
How does Bentley Systems ensure better project performance?
