Roper Industries Posts Upbeat Q1 Earnings, Lifts Earnings Forecast

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Roper Industries, Inc.
ROP
reported better-than-expected earnings for the first quarter. The Sarasota, Florida-based company posted a quarterly profit of $155.8 million, or $1.54 per share, compared to $147.2 million, or $1.46 per share, in the year-earlier quarter. Excluding non-recurring items, the company's earnings rose 6 percent to $1.55 per share. Its revenue gained 4 percent to $865.3 million, while adjusted revenue surged 4 percent to $867 million. However, analysts were expecting a profit of $1.52 per share on revenue of $874.98 million. GAAP operating profit climbed 11 percent to $247 million, while adjusted operating profit rose 11 percent to $249 million in the latest quarter. Operating cash flow surged 22 percent to $260 million in the first quarter. The average estimate among 12 Estimize users was for earnings of $1.53 per share and revenue of $873.99 million. "We are delighted to be reporting for the first time as Roper Technologies," said Brian Jellison, Roper's Chairman, President and CEO. "Our businesses performed exceptionally well in the quarter, with record first quarter performance for orders, revenue, margins, net earnings and cash flow. Organic revenue increased 5%, with significant contributions from our RF Technology and Medical segments. As a result of strong operating performance and our continued growth in asset-light software, technology and services businesses, free cash flow increased 24% to $250 million." For the full year, Roper Industries now projects earnings of $6.75 to $6.95 per share, versus its earlier outlook of $6.70 to $6.94 per share. The company also expects Q2 earnings of $1.59 to $1.64 per share. Roper Industries shares fell 0.08 percent to close at $169.92 on Friday.
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Posted In: EarningsNewsGuidanceprofit
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