Manhattan Associates (MHT) Q3 2026 Earnings Report
CH:MHT Q3 2026 EPS Results
- Actual EPS
- CHF 1.28
- Consensus EPS
- CHF 1.21
- Beat/Miss
- Beat by +CHF 0.07
- One Year Ago EPS
- CHF 1.13
CH:MHT Q3 2026 Revenue Results
- Actual Revenue
- CHF 253.30M
- Expected Revenue
- CHF 245.71M
- Beat/Miss
- Beat by +CHF 7.59M
- YoY Revenue Growth
- +11.02%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- After Close
- Conference Call
- Tuesday, October 27, 2026
CH:MHT Upcoming Earnings
Manhattan Associates's next earnings date is estimated for February 2, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
CH:MHT Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, supported by record bookings, 28% cloud revenue growth, 25% RPO growth, improved margins and EPS, raised 2026 guidance, strong AI adoption and expanding partner and Editions momentum. The company also cited macro volatility, FX pressure, limited services growth, license and maintenance attrition and the time required for new initiatives to scale. Overall, the operational and financial highlights significantly outweighed the stated challenges.
Company Guidance
For full year 2026, Manhattan increased its RPO outlook to 21% year-over-year growth, up from its prior target range of 18% to 20% growth, and now expects renewals to be in the mid-20 percent range of its added RPO; total revenue is expected at $1.176 billion to $1.178 billion with the $1.177 billion midpoint, representing 12% growth excluding license and maintenance attrition or 9% all in, full-year adjusted operating margin is expected at a 35.3% midpoint, up from 35.1%, and adjusted EPS is increasing to $5.54 to $5.56, with GAAP EPS at a $3.63 midpoint. For Q4, the company is targeting total revenue to be about $291 million, including cloud revenue of $136 million, services revenue of $122 million, maintenance revenue of $26 million, hardware revenue of $6 million, adjusted operating margin of 36.1%, adjusted EPS of $1.38 and GAAP EPS of $0.92. For 2027, the company believes the consensus 2027 estimates are generally appropriate for RPO and the P and L, including 20% cloud revenue growth, low single digit services revenue growth and continued operating margin expansion.
- Record Q3 Results and Accelerating GrowthManhattan delivered record third-quarter and year-to-date results, including 28% cloud revenue growth, 25% RPO growth to $2.6 billion, and total revenue growth of 11%. The company also reported its fourth consecutive quarter of record bookings.
- Cloud Revenue Surpassed Services RevenueCloud revenue surpassed services revenue for the first time, while total quarterly revenue exceeded the $300 million watermark. Q3 total revenue was $306 million, up 11%, and total revenue excluding license and maintenance revenue was up 12%.
- Strong Cloud and RPO PerformanceCloud revenue increased 28% to $134 million, driven by strong execution, upsells and AI. RPO ended the quarter at $2.59 billion, up 25% year over year and 5% sequentially.
- Bookings Momentum Across Customer TypesYear-to-date deal volume had already surpassed total deal volume for full-year 2025. The company reported healthy growth in new logos, upsells and renewals, with new logos representing about 35% of new cloud bookings and the win rate remaining above 70%.
- Diversified Vertical and Regional DemandThe company cited healthy established footprints across retail, grocery, distribution, life sciences, industrial, technology, airlines, third-party logistics and other subsectors. Q3 had great participation from every region, with increased deal volume across all regions.
- Continued Sales, Marketing and Platform InvestmentsManhattan is continuing investments in product-focused sales specialist teams, a dedicated conversion team, a dedicated renewal team, its partner ecosystem, agentic AI capabilities and new Editions packaging to drive new logos, cross-sells, renewals and cloud conversions.
- AI Adoption and Conversion SuccessAI offerings embedded in the Active platform contributed to Q3 deal flow, including an AI upsell through the Google marketplace and new pipeline growth. The company said it continues to maintain a 100% conversion success rate from AI pilot to AI subscription, and a meaningful number of customers have skipped the pilot phase and gone directly to subscription.
- Demonstrated Customer Benefits from AI AgentsA third-party logistics customer reduced wave planning by 50%, appointment-booking clerical time by 80% and way-failure investigation time by almost 70%; one site experienced approximately a 20% increase in on-time departures. A retailer reduced invoice write-offs by almost 20% and invoice-resolution time by over 70%. A manufacturer forecast 7 figures worth of increased sales and cost savings after deploying an order-fill agent across all sites.
- Successful Launch of EditionsThe company launched Essentials, Enterprise and Enterprise Premier Editions in Q3 to make the Active platform available to customers with different levels of supply-chain complexity. Manhattan closed multiple Active Warehouse Enterprise Edition deals and its first Essentials Edition deal, including a customer that was not in the pipeline at the beginning of Q3.
- Expanded Addressable Market Through EditionsManagement said Editions are creating more paths for smaller and midsize customers to adopt the Active platform, while enabling access to embedded AI, Active Transportation and Active Order and future movement to Enterprise Premier Edition.
- Partner Channel ExpansionYear-to-date partner-sourced deals were up more than 4x over the prior year. Partners continued to invest in hiring and training talent, and the quarter's increase in trained and certified professionals was higher than the prior quarter.
- Innovation in Active OrderManhattan introduced fulfillment-optimization simulation in Active Order, allowing customers to test fulfillment-network models, inventory positioning, labor plans and algorithm configurations using real production data across an entire day or week.
- B2B Order Management BenefitsA global manufacturer using Enterprise Promise and Fulfill reduced critical order cycle time by more than half, increased first-time fill rates by 50% and shifted 25% of customers from manual ordering to digital ordering while exceeding inventory-turn targets.
- Expansion of 3PL and 4PL CapabilitiesActive Order and Active Warehouse are helping one of the world's largest third-party logistics providers offer 4PL services to leading brands, which management said is increasing strategic competitiveness and customer satisfaction.
- Faster Deployments and Upsell RampsThe company said services projects are being completed faster than a year ago, while AI is helping accelerate deployment cycles. Faster deployments are allowing customers to achieve ROI sooner, move into higher tiers and ramp subscriptions faster.
- Improved Renewal ExecutionRenewals were tracking ahead of expectations, with management attributing the performance to cross-sells, upsells, pricing and the dedicated renewals team. Renewals are now expected to represent the mid-20 percent range of added RPO for full-year 2026.
- Higher Near-Term RPO VisibilityApproximately 40% of RPO is expected to be recognized as revenue in the next 24 months, up from 39% at the end of Q2 and 38% at the end of Q1. Management attributed the increase to strong deal volume and faster deployments.
- Operating Margin and Earnings OutperformanceQ3 adjusted operating profit was $115 million with a 37.6% operating margin. Adjusted EPS was $1.55, up 14%, while GAAP EPS was $1.04, up 8%. Management said strong cloud revenue growth offset increased go-to-market investments and higher bonus accruals.
- Strong Cash Generation and Debt-Free Balance SheetOperating cash flow was $69 million, free cash flow margin was 22.1% and adjusted EBITDA margin was 38.2%. Manhattan ended the quarter with $199 million in cash and no debt.
- Share RepurchasesThe company repurchased $50 million of shares in Q3, bringing year-to-date buybacks to a record $325 million. Manhattan had $175 million remaining under the share repurchase authority announced in March.
- Raised Full-Year 2026 OutlookThe company increased its RPO outlook to 21% year-over-year growth from the prior target range of 18% to 20%. Full-year revenue guidance was raised to $1.176 billion to $1.178 billion, with a $1.177 billion midpoint, representing 12% growth excluding license and maintenance attrition or 9% all-in.
- Raised Margin and EPS GuidanceFull-year adjusted operating margin guidance increased to a 35.3% midpoint from 35.1%. Full-year adjusted EPS guidance increased to $5.54 to $5.56, and the GAAP EPS midpoint increased to $3.63.
- Constructive 2027 Preliminary OutlookManagement said consensus 2027 estimates were generally appropriate for RPO and the P&L, including 20% cloud revenue growth, low single digit services revenue growth and continued operating margin expansion while investing in the business.
- Growing Cloud Conversion OpportunityManagement said fixed-price conversion discussions are currently the largest driver of on-premises customer conversions, while Editions are opening additional doors and accelerating some timelines. The company expects continued increases in conversion activity and cited a strong pipeline for the rest of 2026 and into 2027.
- New Board AppointmentJuan Perez, former EVP and CIO of Salesforce and a former chief information and engineering officer at UPS, will join the Manhattan board effective January 28th.
CH:MHT Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 02, 2027 | 2026 (Q4) | 1.16- | 1 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | 1.211.28 | 1.13 | 13.97% (+0.16) | |
| Jul 28, 2026 | 2026 (Q2) | 1.091.15 | 1.08 | 6.11% (+0.07) | |
| Apr 21, 2026 | 2026 (Q1) | 0.921.03 | 0.98 | 4.20% (+0.04) | |
| Jan 27, 2026 | 2025 (Q4) | 0.941.00 | 0.97 | 3.42% (+0.03) | |
| Oct 21, 2025 | 2025 (Q3) | 0.981.13 | 1.12 | 0.74% (+0.01) | |
| Jul 22, 2025 | 2025 (Q2) | 0.931.08 | 0.98 | 11.02% (+0.11) | |
| Apr 22, 2025 | 2025 (Q1) | 0.850.98 | 0.85 | 15.53% (+0.13) | |
| Jan 28, 2025 | 2024 (Q4) | 0.880.97 | 0.85 | 13.59% (+0.12) | |
| Oct 22, 2024 | 2024 (Q3) | 0.881.12 | 0.87 | 28.57% (+0.25) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
