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Bentley Systems Q3 revenue rises 12%, slightly beats estimates

By Reuters News


Overview

  • Infrastructure engineering software firm's Q3 revenue rose 12%, slightly beating analyst expectations

  • Adjusted EPS for Q3 rose to $0.36 from $0.27 a year ago

  • Company completed Cohesive divestiture and acquired Eliis for seismic interpretation software


Outlook

  • Company raises constant currency ARR growth outlook to 12.5-13.5% excluding Cohesive divestiture

  • Company expects revenues, AOI less Operating SBC and free cash flow to meet outlook ranges

  • Company sees continued momentum in Resources and Public Works & Utilities end markets


Result Drivers

  • SECTOR DEMAND - Co said growth was driven by strength in Resources and ongoing momentum in Public Works & Utilities, with increased infrastructure investment for AI

  • END MARKET ROBUSTNESS - Co attributed ARR growth to robust end markets and customer confidence in infrastructure AI


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

$421.51 mln

$420.76 mln (14 Analysts)

Q3 Net Income

$90 mln

Q3 EBIT

$122.62 mln

Q3 Gross Profit

$349.55 mln

Q3 Pretax Profit

$115.54 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy"

  • Wall Street's median 12-month price target for Bentley Systems, Incorporated is $44.43, about 1.8% above its November 4 closing price of $43.64

  • The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 24 three months ago


Reuters Recommended Reads

  • Nov 5 - Germany's Nemetschek Q3 revenue slightly misses estimates; backs FY outlook

  • Nov 4 - Figma's Q3 revenue jumps 43% and beats estimates; raises FY revenue outlook

  • Nov 4 - HubSpot Q3 revenue beats estimates driven by subscription growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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