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Manhattan Associates Inc. reports developments tied to its supply chain and omnichannel commerce software business. The company provides cloud-based, AI-powered solutions that connect front-end commerce with back-end supply chain execution for retailers, wholesalers, manufacturers, logistics providers and other enterprises.
Recurring news themes include quarterly results, bookings and guidance, Manhattan Active product updates, transportation management recognition, unified commerce research, customer selections for supply chain planning, common share repurchase authorization and executive leadership changes.
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Manhattan Associates reported a strong start to 2023 with Q1 revenue reaching $221.0 million, up from $179.0 million in Q1 2022. The company's GAAP diluted earnings per share increased to $0.62, compared to $0.48 last year, while non-GAAP adjusted diluted EPS rose to $0.80 from $0.60.
Cloud and services revenue growth exceeded expectations, with cloud subscription revenue at $57.2 million, significantly higher than $37.3 million in the same quarter last year. Despite cautious outlook due to economic conditions, the company raised its full-year guidance with total revenue expectations between $856 million and $864 million, representing a growth range of 12% to 13%.
Manhattan Associates (NASDAQ: MANH) has been recognized as the Leader in Forrester Wave's Q2 2023 report for Order Management Systems (OMS). It is the only provider to achieve a perfect score (5.00) in 16 out of 24 evaluated criteria under Current Offering. The report commends Manhattan's OMS for its comprehensive features, particularly in inventory management and order orchestration capabilities.
Forrester's analysis highlighted the company's strengths in community engagement and planned enhancements, affirming its strategic positioning within the market. The recognition is seen as a validation of Manhattan’s commitment to innovation and customer partnership. The Unified Commerce Benchmark indicates that a streamlined OMS can potentially boost revenue growth by up to 6X.
Manhattan Associates (NASDAQ: MANH) will release its Q1 2023 financial results on April 25, 2023, after market close. A conference call will follow at 4:30 p.m. ET, with a live webcast available for investors on the company's Investor Relations website. A replay will be accessible via phone and online shortly after the call.
The company specializes in technology solutions for supply chain and omnichannel commerce, aiming to integrate information across various business operations. Their offerings include leading cloud and on-premises solutions designed to enhance profitability and growth.
Manhattan Associates (NASDAQ: MANH) has been recognized as a Leader in the Gartner Magic Quadrant for Transportation Management Systems for the fifth consecutive year. This recognition underscores the company's robust Manhattan Active® Transportation Management solution, designed to enhance transportation functions across various networks. Notably, clients like Giant Eagle experienced an 8% reduction in empty miles and a 7% improvement in cubing through this solution. The company's cloud-native architecture aids in optimizing logistics and improving profitability for shippers and carriers.