Roper Technologies Q2 Profit Rises Above Estimates; Lifts Annual Outlook

(RTTNews) - Roper Technologies, Inc. (ROP) on Tuesday reported higher profit in the second quarter backed by increased revenue. The company's second-quarter earnings outlook came in above Street view and raised its full-year outlook.

Earnings from continuing operations were $287.6 million or $2.70 per share in the first quarter, higher than 269.9 million or $2.55 per share in the same quarter a year ago.

Excluding one-time items, earnings were $3.77 per share, that beat the average estimate of analysts polled by Thomson Reuters at $3.69 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $1.527 billion from $1.376 billion last year. The consensus estimate was for $1.47 billion. The company cited organic revenue growth of 11% as well as strength in its niche-leading businesses.

For the second quarter, the company expects adjusted EPS to be in the range of $3.80 - $3.84. Analysts expect earnings of $3.79 per share for the quarter.

Looking forward, the company said, "Our enterprise continues to exhibit strong momentum fueled by double-digit software recurring revenue growth and robust product demand. As a result, we are increasing our full year guidance."

For the full year, Roper has raised its adjusted EPS outlook to the range of $15.50 - $15.75, from previous guidance of $15.25 - $15.55. The consensus estimate stands at $15.54 per share.

Roper Technologies stock is trading 5% up in pre-market. It closed at $455.27, up 0.26% on Monday.