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Bentley Systems, Incorporated (BSY) provides essential software solutions for infrastructure professionals worldwide. This dedicated news hub offers investors and industry stakeholders centralized access to official company updates and press releases.
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Bentley Systems (Nasdaq: BSY), an infrastructure engineering software company, has announced it will release its second quarter 2024 financial results on Tuesday, August 6, 2024, before the market opens. The company's senior management will host a webcast at 8:15 a.m. ET to discuss the results. Investors and interested parties can access the results press release and webcast link on Bentley's investor relations website prior to the start of the webcast. A replay of the webcast will be available later the same day on the company's investor relations website.
Nicholas Cumins has officially taken over as CEO of Bentley Systems (NASDAQ: BSY), succeeding Greg Bentley, who now serves as Executive Chair of the Board of Directors. Cumins is the first non-family member to lead the company in its 40-year history. The transition comes at a important time for the infrastructure sector, with a shortage of engineers to meet global sustainability goals and aging infrastructure needs. Cumins unveiled Bentley's vision for resilience in infrastructure, emphasizing AI-powered digital twin solutions to optimize asset performance and sustainability. Cumins brings significant experience from his previous roles, including COO of Bentley Systems since January 2022 and Chief Product Officer at SAP and OpenX.
Bentley Systems (Nasdaq: BSY) has declared a dividend of $0.06 per share for the second quarter of 2024.
The dividend will be payable on June 13, 2024, to all stockholders of Class A and Class B common stock as of June 4, 2024.
Bentley Systems, Incorporated reported positive financial results for the first quarter of 2024, with total revenues of $337.8 million, a 7.4% increase year-over-year. Subscriptions revenues were up by 10.5%, reaching $307.1 million. The company's Annualized Recurring Revenues (ARR) grew by 11% to $1,186.5 million. Operating income margin improved to 27.2%, and adjusted operating income margin increased to 33.3%. Net income per diluted share rose to $0.22, while adjusted net income per diluted share was $0.31. Cash flows from operations also saw a significant increase to $205.0 million.
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