French software company Dassault Systèmes (DAST.PA) revised down its full-year earnings forecast on Tuesday, attributing the adjustment to cautious customer spending and delays in contract signings.
The company now anticipates 2024 diluted earnings per share (EPS) growth in the range of 8% to 11% year-on-year, compared to previous guidance of 10% to 12%. CEO Pascal Daloz pointed to significant delays in large transactions impacting sales.
Dassault estimated its second-quarter revenue at approximately 1.50 billion euros ($1.62 billion), falling short of its initial forecast of between 1.53 to 1.56 billion euros.
Daloz emphasized that despite the delays, all postponed deals remain on the company’s future agenda. However, he cautioned about ongoing volatility in customer decision-making and its potential impact on the full-year outlook.
Specializing in software for automotive, aerospace, and industrial sectors, Dassault had reported a mixed first quarter in April, which had previously caused a decline in its share value.
