Roper Technologies Q3 Profit Rises; Sees Q4 Adj. EPS Above Market, Lifts FY22 Forecast

(RTTNews) - Roper Technologies Inc. (ROP) reported Wednesday that its third-quarter net earnings grew to $327.0 million from last year's $289.5 million.

Earnings per share were $3.06, up from $2.71 in the prior year.

Net earnings from continuing operations grew to $276.9 million or $2.59 per share from $210.8 million or $1.97 per share a year ago.

Adjusted earnings per share were $3.67, compared to $3.12 last year.

On average, 11 analysts polled by Thomson Reuters expected earnings of $3.45 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues increased 10 percent to $1.35 billion from $1.23 billion last year. Organic revenue also increased 10 percent. Analysts estimated revenues of $1.31 billion for the quarter.

Looking ahead for the fourth quarter of 2022, the company expects adjusted earnings per share of $3.72 to $3.76.

Further, the company now expects fiscal 2022 adjusted earnings per share of $14.09 to $14.13, higher than previous estimate of $13.46 to $13.62.

Analysts estimate earnings of $3.53 per share for the fourth quarter and $13.61 per share for the year.

Neil Hunn, Roper Technologies' President and CEO, said, "We are increasing our guidance for the year, driven by the combination of excellent third quarter results, continued strong demand for our niche software and product solutions, and the addition of Frontline Education."

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