Manhattan Associates Exceeds Expectations with Strong 2024 Outlook

Shares of Manhattan Associates saw a significant boost on Tuesday after the company revealed its outlook for 2024, surpassing expectations. The stock surged 7.2% to $239.85 in after-hours trading, following a 0.9% drop at Tuesday's close. Demonstrating a remarkable growth trajectory, shares have climbed by 72% over the past year.

Headquartered in Atlanta, Manhattan Associates is known for providing exceptional supply chain solutions. For the upcoming year, the company anticipates revenue to range between $1.02 and $1.03 billion, reflecting an impressive 9% to 10% increase compared to the previous year. According to analysts polled by FactSet, the consensus is a total revenue figure of $1.01 billion.

In terms of profitability, Manhattan Associates expects to achieve a per-share profit of $2.81 to $2.91. However, industry analysts anticipate a slightly lower per-share profit of $2.65. Stripping out specific one-time items, the company forecasts per-share earnings of $3.69 to $3.79, surpassing analysts' projections of $3.65.

Highlighting the success of the fourth quarter, Manhattan Associates reported a substantial revenue increase of 20% to $238.3 million, comfortably outperforming the $224 million forecast provided by analysts. Moreover, the company's quarterly profit rose from $37.9 million, or 60 cents per share, in the previous year to $48.7 million, or 78 cents per share.