NEW YORK - Roper Technologies, Inc. (NASDAQ:ROP) reported third-quarter results that exceeded analyst expectations and raised its full-year earnings guidance, though shares edged lower by 0.38% in premarket trading Wednesday.
The technology company posted adjusted earnings per share of $4.62, beating the consensus estimate of $4.53. Revenue grew 13% year-over-year to $1.76 billion, surpassing expectations of $1.72 billion. Organic revenue increased 4% compared to the prior year period.
"Our portfolio of market-leading technology businesses delivered another solid quarter, highlighted by 13% total revenue growth, 10% EBITDA growth, and 15% free cash flow growth," said Neil Hunn, Roper Technologies President and CEO.
For the full year 2024, Roper now expects adjusted EPS of $18.21 to $18.25, up from its previous guidance of $18.10 to $18.25 and compared to the analyst consensus of $18.24. The company also raised its full-year total revenue growth outlook to over 13% while maintaining its organic revenue growth forecast of approximately 6%.
Looking ahead to the fourth quarter, Roper projects adjusted EPS of $4.70 to $4.74.
The company completed its acquisition of Transact Campus during the quarter, combining it with its CBORD business. Hunn noted this adds "another high-quality vertical software business to our portfolio with highly compelling value creation opportunities for our shareholders."
Roper ended the quarter with $269.6 million in cash and cash equivalents. The company said it remains well-positioned to execute its disciplined capital deployment strategy, with significant M&A capacity and a robust pipeline of acquisition opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.