Published on 2 May 2024 on Zacks via Yahoo Finance
ANSYS (ANSS) Q1 Earnings & Revenues Miss Estimates, Fall Y/Y
ANSYS Inc ANSS reported first-quarter 2024 earnings of $1.39 per share, lagging the Zacks Consensus Estimate by 28%. The bottom line declined 24.9% year over year.Revenues of $466.6 million missed the Zacks Consensus Estimate by 15.9%. The top line fell 8% (down 8% at constant currency or cc) year over year.In January 2024, Ansys and Synopsys officially announced their entry into a definitive agreement, paving the way for the latter to acquire ANSS. The terms of the agreement outline that ANSS’ shareholders will receive $197 in cash, along with 0.3450 shares of Synopsys common stock for each Ansys share.This deal, valued at approximately $35 billion, reflects an implied per-share consideration of $390.19 and represents a premium of about 29% over ANSS’ closing stock price on Dec 21, 2023. ANSS’ shareholders are likely to own approximately 16.5% of the combined company (on a pro-forma basis). The deal is anticipated to close in the first half of 2025, subject to approval by ANSS shareholders, regulatory approvals and customary closing conditions.
ANSYS, Inc. Price, Consensus and EPS Surprise
