By Ben Glickman
Shares of Manhattan Associates rose late on Tuesday after the company issued a 2024 outlook that topped expectations.
The stock was up 7.2% to $239.85 in after-hours trading, following a 0.9% drop at Tuesday’s close. Shares are up 72% in the last year.
The Atlanta-based company, which provides supply chain solutions, said it expected revenue of $1.02 to $1.03 billion in 2024, an increase of 9% to 10% from the same period a year ago. Analysts polled by FactSet expect full-year revenue of $1.01 billion.
Manhattan expects a profit of $2.81 to $2.91 a share. Analysts expect a per-share profit of $2.65.
Stripping out certain one-time items, the company sees per-share earnings of $3.69 to $3.79, ahead of the $3.65 forecast by analysts.
In the fourth quarter, the company’s revenue increased 20% to $238.3 million, surpassing the $224 million forecast by analysts.
Manhattan reported a profit in the quarter of $48.7 million, or 78 cents a share, compared with $37.9 million, or 60 cents a share, a year earlier.
Write to Ben Glickman at [email protected]
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