Ptc Inc. (PTC) · Nov 4, 2026 · Earnings

PTC earnings beat as ARR grows, but revenue and margins plunge

Beat — Non-GAAP EPS $2.03 vs ~$1.97 consensus; revenue $673.3M vs ~$663.6M

PTC’s Q4 earnings modestly beat expectations and ARR edged above its prior range, but revenue and margins deteriorated sharply as the Schneider deal looms.

PTC is a subscription-heavy industrial software company in the middle of a portfolio reshaping and a pending sale to Schneider Electric. The acquisition was announced on October 5, 2026, so this earnings release lands mainly as a final operating check before PTC stops giving guidance; the prior fiscal-year framework had called for 7.5%–9.5% constant-currency ARR growth and $6.65–$8.90 of non-GAAP EPS.

The quarter cleared the modest published earnings bar, but not by enough to change the story. Q4 revenue of $673.3 million was above the roughly $663.6 million consensus, while non-GAAP EPS of $2.03 exceeded the roughly $1.97 estimate. That is a real beat, but it is narrow rather than a sign of accelerating reported growth.

	Q4 2026	Q4 2025	Consensus
Revenue (Income Statement)	$673.3M	$893.8M	$663.6M
Non-GAAP diluted EPS (Non-GAAP reconciliation)	$2.03	$3.41	~$1.97
Constant-currency ARR ex-divested (Key Operating Metrics)	9.7%	—	7.5%–9.5% guide

ARR is the strongest underlying signal. Constant-currency ARR excluding the divested businesses rose 9.7%, just above the top of the prior 7.5%–9.5% range, while reported ARR excluding those businesses rose 8%. That suggests the recurring software base is holding up better than the headline revenue line. The caveat is that reported ARR growth was only 1% before the divestiture adjustment, so the portfolio changes materially affect the comparison. 〔0〕

The reported income statement still shows a sharp contraction. Revenue fell 24% year over year on a constant-currency basis, GAAP operating margin dropped to 31.6% from 48.5%, and non-GAAP operating margin fell to 45.6% from 58.9%. The release attributes revenue distortion to ASC 606 and the divested businesses, but the magnitude means the quarter does not demonstrate clean operating momentum. 〔1〕

The cash-flow disclosure is internally inconsistent and weakens confidence in the headline table. The key-metrics table lists Q4 operating cash flow of $475 million and free cash flow of $385 million, while the detailed cash-flow statements show $47.3 million and $37.7 million, respectively. The detailed statements align with the reported cash balance movement; the filing does not explain the tenfold difference, so the cash-flow headline should not be treated as reliable without clarification.

The acquisition changes what investors can expect from management. PTC says it will suspend quarterly earnings calls and stop providing quarterly or annual guidance because of the pending Schneider Electric transaction. That is already known rather than a fresh deterioration, but it removes the normal forward benchmark and makes ARR and the final reported results more important as the last standalone operating reference. 〔2〕

Bottom line: PTC modestly beat the available Q4 earnings and ARR benchmarks, but the underlying business still shows severe reported revenue and margin pressure. The result is mildly better than expected, not a meaningful rewrite of the company’s operating story before the Schneider transaction closes.

What to watch next

PTC shareholder vote on the Schneider Electric merger

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

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PTC earnings beat as ARR grows, but revenue and margins plunge

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