Aspen Technology (AZPN) Misses Q3 EPS by 6c

Aspen Technology (NASDAQ: AZPN) reported Q3 EPS of $1.05, $0.06 worse than the analyst estimate of $1.11. Revenue for the quarter came in at $162.7 million versus the consensus estimate of $169.39 million.

“AspenTech’s third quarter performance was highlighted by strong free cash flow generation and demand activity in each of our core end-markets that was at or above pre-pandemic levels,” said Antonio Pietri, President and Chief Executive Officer of Aspen Technology. “At the same time, the continued uncertainty in the global macro environment due to COVID, coupled with the significant and costly disruptions in the energy and chemicals markets related to the winter storm in the US during the quarter, made it more challenging to close transactions than we expected.”

Pietri continued, “Our high levels of engagement with customers regarding AspenTech’s critical role in their long-term digitalization and sustainability initiatives give us confidence that we will drive faster growth as market conditions normalize.”

GUIDANCE:

Aspen Technology sees FY2021 EPS of $4.98-$5.22, versus the consensus of $5.45.

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

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