Core Viewpoint - Bentley Systems, Incorporated (BSY) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][4][12] Earnings Estimates and Ratings - The Zacks rating system is based solely on a company's changing earnings picture, tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2] - The Zacks rating upgrade for Bentley Systems reflects an optimistic earnings outlook, likely leading to increased buying pressure and a rise in stock price [4][6] Impact of Earnings Estimate Revisions - Changes in future earnings potential, as shown by earnings estimate revisions, are strongly correlated with near-term stock price movements [5][7] - Institutional investors utilize earnings estimates to determine the fair value of stocks, influencing their buying and selling decisions, which in turn affects stock prices [5] Recent Performance of Bentley Systems - For the fiscal year ending December 2024, Bentley Systems is projected to earn $1.04 per share, representing a 14.3% increase from the previous year [9] - Over the past three months, the Zacks Consensus Estimate for Bentley Systems has risen by 6.4%, indicating a positive trend in earnings estimates [9] Zacks Rank System Overview - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [8][10] - Only the top 20% of Zacks-covered stocks receive a 'Strong Buy' or 'Buy' rating, indicating superior earnings estimate revisions and potential for market-beating returns [10]

FORM 10-Q ___________________________________ BENTLEY SYSTEMS, INCORPORATED (Exact name of registrant as specified in its charter) ___________________________________ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2024 were $338 million, up 7% year-over-year in reported and constant currency [30] - Subscription revenues grew 11% year-over-year, representing 91% of total revenues, up from 89% in Q1 2023 [30] - GAAP operating income was $92 million, with adjusted operating income at $112 million, up 24% year-over-year, resulting in a margin of 33.3%, up 450 basis points [32] - Operating cash flow was $205 million for the quarter, up 16% year-over-year [34] Business Line Data and Key Metrics Changes - Professional services revenues declined by $6 million or 22% year-over-year, primarily due to weakness in Maximo-related work [31] - The exponential growth of Virtuoso Subscriptions continued, with over 9,000 cumulative accounts, contributing significantly to overall ARR growth [22] - The cohesive digital integrator business faced delays, impacting overall revenue growth, with a revenue mix becoming more subscription-intensive [5] Market Data and Key Metrics Changes - North America showed steady performance with positive market sentiment, particularly in transportation and utilities sectors [26] - The engineering resources capacity gap remains a significant theme, with lengthy project backlogs reported by U.S. engineering firms [24] - Internationally, India continues to be a major growth driver, with expectations of strong growth despite potential pauses due to elections [80][81] Company Strategy and Development Direction - The company is focusing on digital solutions to address the engineering resources capacity gap and is investing in AI for product development and marketing [33] - The transition to a new CEO is aimed at maintaining continuity and leveraging the strengths of the new leadership team [3][7] - The company plans to simplify its portfolio to enhance user experience and improve consumption rates [70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the U.S. economy and the design and engineering sector, with expectations of higher backlogs in the coming year [24] - The company anticipates continued growth in subscription revenues and is focused on capital allocation for growth initiatives [48] - Management acknowledged the impact of geopolitical tensions and economic conditions but noted improvements in renewal rates [28] Other Important Information - The company is prioritizing investments in asset analytics and digital twins, with significant announcements expected throughout 2024 [13] - The company has fully repaid its revolving line of credit, enhancing its financial stability [35] Q&A Session Summary Question: What changes in growth philosophy can be expected with the new CEO? - The new CEO indicated no major changes in strategy or operations, emphasizing continuity in growth priorities such as E365 and Digital Twins [37] Question: What does the sequential guidance look like for Q2 and the rest of the year? - Management expects sequential growth to pick up in Q2, with a more back-loaded ARR growth anticipated for the remainder of the year [58] Question: How is the international business performing, particularly in Western Europe and India? - Management noted that India remains a strong growth driver, with expectations of continued strength despite potential election-related pauses [80][81] Question: Can you provide updates on portfolio simplification and its impact on consumption? - The simplification of the portfolio is aimed at reducing friction in discovering new capabilities, which is expected to improve consumption over time [70]

For the quarter ended March 2024, Bentley Systems, Incorporated (BSY) reported revenue of $337.76 million, up 7.4% over the same period last year. EPS came in at $0.31, compared to $0.25 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $335 million, representing a surprise of +0.83%. The company delivered an EPS surprise of +19.23%, with the consensus EPS estimate being $0.26.While investors closely watch year-over-year changes in headline numbers -- revenue and earni ...

24Q1 Results May 7, 2024 | © 2024 Bentley Systems, Incorporated 2 © 2024 Bentley Systems, Incorporated | The forward-looking statements made in this presentation are made as of May 7, 2024. If this presentation is reviewed after May 7, 2024, even if made available by us, on our website or otherwise, it may not contain current or accurate information. We disclaim any obligation to update or revise any forward-looking statement based on new information, future events, or otherwise. Please refer to the Appendi ...

Bentley Systems, Incorporated (BSY) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.23%. A quarter ago, it was expected that this company would post earnings of $0.19 per share when it actually produced earnings of $0.20, delivering a surprise of 5.26%.Over the last four quarters, ...

• Subscriptions revenues were $307.1 million, up 10.5% or 10.3% on a constant currency basis, year-over-year; | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------| | | | | Those wishing to participate ...

Wall Street analysts forecast that Bentley Systems, Incorporated (BSY) will report quarterly earnings of $0.26 per share in its upcoming release, pointing to a year-over-year increase of 4%. It is anticipated that revenues will amount to $335 million, exhibiting an increase of 6.6% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates dur ...

RELX PLC’s (RELX) subsidiary, LexisNexis Risk Solutions, has enhanced the capabilities of its Claims Datafill platform by adding a feature. The added feature will alert insurance companies about the availability of police reports or violation data in advance, which is anticipated to speed up insurance claims and enhance the customer experience for those who have suffered a loss.The introduction of this feature in the company’s platform will smoothen the claims process by streamlining its most time-consuming ...

One stock that might be an intriguing choice for investors right now is Bentley Systems, Incorporated (BSY) . This is because this security in the Internet - Software space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place i ...