Bentley Systems Q4 Adj. EPS Tops View; Guides FY24 Revenues In Line

(RTTNews) - Infrastructure engineering software company Bentley Systems, Inc. (BSY) reported Tuesday net income for the fourth quarter of $179.59 million or $0.54 per share, sharply higher than $25.72 million or $0.08 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.20 per share, compared to $0.19 per share in the year-ago quarter.

Total revenues for the quarter increased 8.3 percent to $310.64 million from 286.95 million in the same quarter last year. Revenues were up 7.3 percent on a constant currency basis.

On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share on revenue of $313.18 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects total revenues between $1.350 billion and $1.375 billion, with constant currency revenue growth of 10 to 12 percent. The Street is looking for revenues of $1.37 billion for the year.

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