Roper Technologies, Inc. (NYSE:ROP) 3Q18 Earnings Top Estimate; Raises Full Year Outlook

Roper Technologies

Roper Technologies, Inc. (NYSE:ROP) reported net income for the third quarter of $ 247.60 million or $ 2.37 per share, compared to income of $ 190.30 million or $ 1.84 per share for the year-ago quarter.

The company reported third quarter Non-GAAP adjusted income of $ 411.00 million or $ 3.09 per share.

The topline results for the third quarter rose 13% to $ 1.32 billion from $ 1.17 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected Roper Technologies to report income of $ 2.94 per share on revenue of $ 1.31 billion for the third quarter.

Neil Hunn, President and CEO, commented, Organic revenue grew 9%, with broad-based contributions across our software, network, and product businesses. Operating profit grew double-digits and margins expanded in each of our four reporting segments as our business leaders continued their nimble execution across our diverse niche markets.

Moving forward, Sarasota based company expects 4Q18 earnings of $3.10 – $3.14 per share.

At the same time, ROP raises full year 2018 earnings to a range of $11.69 to $11.73 per share from the previously announced range between $11.40 and $11.56 per diluted share.

The guidance excludes the impact of future acquisitions or divestitures, and also excludes the impact of the pending Gatan divestiture.

 

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