Roper Technologies Boosts FY24 Adj. EPS Outlook; Q2 Earnings Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Wednesday, Roper Technologies, Inc. (ROP) raised its adjusted earnings from continuing operations guidance for the full-year 2024, while maintaining annual revenue growth outlook. The company also provided outlook for the third quarter, below analysts' estimates.

For fiscal 2024, the company now projects adjusted earnings in a range of $18.10 to $18.25 per share on total revenue growth of about 12 percent, with organic revenue growth of about 6 percent.

Previously, the company expected adjusted earnings in the range of $18.05 to $18.25 per share on total revenue growth of about 12 percent, with organic revenue growth of about 6 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $18.19 per share on revenue growth of 12.0 percent to $6.92 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company expects earnings in a range of $3.16 to $3.20 per share and adjusted earnings in a range of $4.50 to $4.54 per share, while the Street is looking for earnings of $4.63 per share for the quarter.

For the second quarter, the company reported net earnings from continuing operations of $337 million or $3.12 per share, down from $361 million or $3.36 per share in the prior-year quarter. Excluding items, adjusted earnings from continuing operations were $4.48 per share, compared to $4.12 per share in the year-ago quarter.

Revenue for the quarter increased 12 percent to $1.72 billion from $1.53 billion in the same quarter last year. Organic revenue increased 4 percent.

The Street was looking for earnings of $4.46 per share on revenues of $1.73 billion for the quarter.

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