Aspen Technology (AZPN) Misses Q2 EPS by 14c

Aspen Technology (NASDAQ: AZPN) reported Q2 EPS of $0.66, $0.14 worse than the analyst estimate of $0.80. Revenue for the quarter came in at $124.7 million versus the consensus estimate of $135.46 million.

“AspenTech delivered solid second quarter results highlighted by continued double-digit annual spend growth. While the macro environment in capital intensive industries was uncertain, spending remained favorable as customers recognized that investments in digitalization can drive meaningful improvements in the operating efficiency and financial performance of their business,” said Antonio Pietri, President and Chief Executive Officer of Aspen Technology.

Pietri continued, “We continue to see significant customer interest in our solutions and expect improving business performance in the second half of the year. Our optimism is driven by our expectations for continuing strength from refining customers, improving demand from chemicals customers as macro conditions in that vertical improve, and the ongoing recovery in our engineering and construction business. We are also encouraged by the progress in our Asset Performance Management business and the traction it is gaining in the Global Economy Industries (GEI).”

GUIDANCE:

Aspen Technology sees FY2020 EPS of $3.43-$3.84, versus the consensus of $3.79. Aspen Technology sees FY2020 revenue of $575-615 million, versus the consensus of $602.43 million.

For earnings history and earnings-related data on Aspen Technology (AZPN) click here.

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