Ralph Lauren announced that its Board of Directors has declared a regular quarterly dividend of $0.9125 per share on Ralph Lauren Common Stock. The dividend is payable on October 10, 2025 to shareholders of record at the close of business on September 26, 2025.The Board of Directors of Graco has declared a regular quarterly dividend of 27.5 cents per common share, payable on November 5, 2025, to shareholders of record at the close of business on October 20, 2025. The company has approximately 165.7 million ...

EXTON, Pa.--(BUSINESS WIRE)--Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that its Board of Directors declared a $0.07 per share dividend for the third quarter of 2025. The cash dividend is payable on September 30, 2025, to all stockholders of record of Class A and Class B common stock as of the close of business on September 23, 2025. About Bentley Systems Around the world, infrastructure professionals rely on software from Bentl. ...

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares Dow Jones U.S. ETF (Symbol: IYY), we found that the implied analyst target price for the ETF based upon its underlying holdings is $176.57 per unit.With IYY trading at a recent price near $160.66 per unit, that mean ...

Core Insights - Bentley Systems, Incorporated (BSY) reported second-quarter 2025 earnings of 32 cents per share, exceeding the Zacks Consensus Estimate by 10.3% and showing a year-over-year growth of 3.2% [1] - Revenues for the second quarter increased by 10.2% year over year to $364.1 million, also surpassing the Zacks Consensus Estimate by 0.28% [1] - Despite the positive earnings report, BSY's stock declined by 3.21% on the day of the announcement [1] Financial Performance - BSY's Subscriptions and licenses revenues were $343.6 million, a decrease of 11.5% year over year, while Services revenues were $20.5 million, down 7.1% year over year [2] - Gross profit for the second quarter was $295.3 million, reflecting a 10.6% increase from $267.1 million in the same quarter last year, with a gross margin of 81.1%, up 20 basis points year over year [4] - Non-GAAP operating income rose to $124.5 million from $117.1 million year over year, and non-GAAP net income increased to $105.5 million from $101.8 million [4] Geographic Revenue Breakdown - Revenues from the Americas were $194 million, accounting for 53.3% of total revenues, with a year-over-year increase of 10.1% [3] - EMEA revenues totaled $105.4 million, representing 29% of total revenues, up 10% year over year [3] - Revenues from Asia-Pacific (APAC) were $64.6 million, making up 17.8% of total revenues, with an 11.1% year-over-year increase [3] Balance Sheet and Cash Flow - At the end of the quarter, BSY had cash and cash equivalents of $89.6 million, up from $83.6 million in the previous quarter, with long-term debt of $1.25 billion [5] - Operating cash flow was $61.1 million, and free cash flow was $57 million for the reported quarter [5] 2025 Guidance - For fiscal 2025, BSY expects total revenues to range from $1,461 million to $1,490 million, or $1,481 million to $1,510 million in constant currency, with a Zacks Consensus Estimate of $1.48 billion, indicating a year-over-year growth of 9.41% [6] - Adjusted operating income margin is expected to be approximately 28.5%, reflecting an annual improvement of 100 basis points [6] - Free cash flow is projected to be between $430 million and $470 million, an increase from the previous guidance of $415 million to $455 million [7]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39548 ___________________________________ BENTLEY SYSTEM ...

Core Insights - Bentley Systems, Incorporated (BSY) reported a revenue of $364.11 million for the quarter ended June 2025, reflecting a year-over-year growth of 10.2% and surpassing the Zacks Consensus Estimate of $363.09 million by 0.28% [1] - The company's earnings per share (EPS) was $0.32, an increase from $0.31 in the same quarter last year, and exceeded the consensus EPS estimate of $0.29 by 10.34% [1] Revenue Performance - Total revenue growth year-over-year was 10.2%, outperforming the five-analyst average estimate of 9.9% [4] - Annualized Recurring Revenues (ARR) reached $1.38 billion, slightly above the estimated $1.35 billion by three analysts [4] - Subscription revenue grew by 12.1% year-over-year, compared to the average estimate of 12.3% by three analysts [4] - Total revenues from subscriptions and licenses amounted to $343.65 million, which is an 11.5% increase from the previous year, but fell short of the average estimate of $344.96 million by four analysts [4] - Service revenues were reported at $20.46 million, exceeding the four-analyst average estimate of $19.3 million, but showed a year-over-year decline of 7.1% [4] - Subscription revenues specifically were $333.45 million, slightly below the three-analyst average estimate of $334.07 million, with a year-over-year growth of 12.1% [4] - Revenues from perpetual licenses were $10.19 million, which was below the average estimate of $11.64 million based on three analysts, representing a year-over-year decline of 6.2% [4] Stock Performance - Shares of Bentley Systems have returned +2.1% over the past month, outperforming the Zacks S&P 500 composite's +0.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Total revenues for Q2 were $364 million, up 10% year over year on a reported basis and 9% on a constant currency basis [27] - Subscription revenues now represent 92% of total revenues, up two percentage points from the same period last year, with subscription revenues growing 12% year over year [28] - Free cash flow was $57 million for the quarter and $273 million year to date, with an increased full-year free cash flow outlook raised to a range of $430 to $470 million [34][36] Business Line Data and Key Metrics Changes - ARR grew 11.5% year over year, with a net revenue retention rate of 109% [18][31] - The fastest-growing sector was Resources, particularly driven by mining, which outpaced civil for the first time in six quarters [19] - Perpetual license revenues for the quarter were $10 million, down $1 million year over year, making up only 3% of total revenues [28] Market Data and Key Metrics Changes - Growth in the Americas was solid, with Latin America standing out, while the US accounts remained confident despite uncertainties [21] - EMEA delivered solid growth, with the Middle East leading, and investment remains strong across various infrastructure sectors [22] - In Asia Pacific, India showed positive sentiment, while Australia experienced a slowdown in transportation spending [24] Company Strategy and Development Direction - The company is focused on going digital as a long-term growth driver, emphasizing the need for enhanced software utilization and AI [5] - The acquisition strategy is now focused on asset analytics opportunities rather than broad programmatic acquisitions [69] - The integration of Cesium and AI capabilities is a priority, with ongoing developments expected to enhance product offerings [66][90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting full-year outlook based on low double-digit ARR growth and continued margin expansion [17] - The demand for better infrastructure continues to outpace available engineering resources, positioning the company favorably [17][41] - The company anticipates a favorable impact from recent legislative changes regarding infrastructure investment [21][23] Other Important Information - The company highlighted the success of its first Cesium Data conference, showcasing its 3D geospatial platform and integration with existing products [25] - The company is well-positioned to support major infrastructure projects tied to upcoming events like the 2032 Brisbane Olympics [24] Q&A Session Summary Question: Inquiry about macroeconomic conditions and SMB strength - Management noted a consistent environment with strong investment in infrastructure, despite tariff uncertainties [39][40] Question: Addressing the long tail of engineers and product offerings - The company confirmed it has a full range of products to address various market segments, with MicroStation being a key entry point for new users [43][44] Question: Data center opportunity and partnerships - Management discussed the infrastructure needs surrounding data centers and the potential for partnerships with hyperscalers [47][49] Question: Clarification on free cash flow guidance - The company confirmed that the increase in free cash flow guidance is due to tax benefits and will provide multiple years of benefits [53][54] Question: Development priorities and R&D hiring trends - The focus is on AI and Cesium integration, with a strategic approach to hiring in R&D to support these initiatives [61][66] Question: Drivers of slight downtick in net revenue retention - Management explained that the NRR is stable and influenced by pricing and consumption factors, with China’s impact noted [81][85]

Group 1 - Bentley Systems reported quarterly earnings of $0.32 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, and showing an increase from $0.31 per share a year ago, resulting in an earnings surprise of +10.34% [1] - The company achieved revenues of $364.11 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.28% and increasing from $330.34 million year-over-year [2] - Bentley Systems shares have increased approximately 22.2% since the beginning of the year, outperforming the S&P 500's gain of 7.1% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $0.28 on revenues of $367.04 million, and for the current fiscal year, it is $1.19 on revenues of $1.48 billion [7] - The Zacks Industry Rank indicates that the Internet - Software sector is currently in the top 32% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this industry [8]

Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were $364 million, up 10% year over year on a reported basis and 9% on a constant currency basis [26] - Subscription revenues now represent 92% of total revenues, up two percentage points from the same period last year, with subscription revenues growing 12% year over year [27] - The company ended Q2 with an Annual Recurring Revenue (ARR) of $1.379 billion, with a year-over-year growth rate of 11.5% on a constant currency basis [29] - Free cash flow was $57 million for the quarter and $273 million year to date, with an increased full-year free cash flow outlook raised to a range of $430 to $470 million [33] Business Line Data and Key Metrics Changes - The company added 300 basis points of ARR growth from new logos, primarily within the SMB segment, and added more than 600 new SMB logos for the fourteenth consecutive quarter [18] - Subscription revenues grew 12% year over year, while perpetual license revenues decreased to $10 million, down $1 million year over year [27][28] - Professional services revenues declined 7% for the quarter, now representing 6% of total revenues [28] Market Data and Key Metrics Changes - The Americas region showed solid growth, particularly in Latin America, while the US accounts remained confident despite uncertainties related to tariffs and policy shifts [20] - EMEA delivered solid growth, with the Middle East leading the region, and investment remains strong across transportation, energy, and water infrastructure [21] - In Asia Pacific, India showed positive sentiment across strategic national programs, while Australia experienced a slowdown in transportation spending [23] Company Strategy and Development Direction - The company is focused on going digital as a long-term growth driver, emphasizing the need for enhanced software utilization and AI in infrastructure engineering [4] - The acquisition of Cesium is aimed at expanding capabilities in 3D geospatial technology and integrating it with existing platforms [24][62] - The company is prioritizing AI and asset analytics in its R&D efforts, indicating a strategic shift towards leveraging AI to enhance productivity in engineering tasks [61][92] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the full-year outlook based on low double-digit ARR growth and continued margin expansion [16] - The demand for resilient infrastructure continues to outpace available engineering resources, positioning the company's software as crucial for productivity [16] - There is optimism regarding legislative changes that could enhance infrastructure investment, particularly in the US [20] Other Important Information - The company is well-positioned to benefit from upcoming infrastructure funding initiatives in the UK and Europe, with significant long-term funding earmarked for infrastructure projects [22] - The company’s net debt leverage was reduced to 2.4 times adjusted EBITDA, down from 2.9 times in 2024, indicating improved financial health [34] Q&A Session Summary Question: Did you notice an improvement sequentially now that we're past some of the initial tariff uncertainty? - Management indicated a consistent environment with positive outlooks from accounts, highlighting a demand problem rather than a capacity issue [40] Question: Do you have the right product set to reach engineers spending below a thousand? - The company confirmed that its traditional product, MicroStation, serves as an entry point for engineers and remains a growth driver in the SMB segment [43] Question: Can you elaborate on the data center opportunity? - Management noted that data centers represent a significant infrastructure opportunity, with software designed for both the data center and its surrounding infrastructure [49] Question: What drove the slight downtick in net retention rate (NRR)? - The NRR is fluctuating between 109% and 110%, with historical pressures from China affecting the overall figure [82] Question: How is the company leveraging AI in its products? - AI is seen as a key area for enhancing productivity in engineering tasks, with ongoing efforts to integrate AI capabilities into the company's software offerings [92]

© 2025 Bentley Systems, Incorporated. All rights reserved. August 6, 2025 1 Bentley Systems Second Quarter 2025 Results Agenda © 2025 Bentley Systems, Incorporated. All rights reserved. 3 Perspectives from the Executive Chair, Greg Bentley 01 © 2025 Bentley Systems, Incorporated. All rights reserved. 4 Total addressable market ("TAM") Perspectives from the Executive Chair 01 © 2025 Bentley Systems, Incorporated. All rights reserved. 2 Perspectives from the CEO 02 Perspectives from the CFO 03 Q&A 04 Disclaim ...