Roper Technologies Beats On Q2 Earnings, Issues Q3 Guidance, Raises FY21 Outlook

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  • Roper Technologies Inc ROP reported second-quarter FY21 revenue growth of 22% year-on-year to $1.588 billion, versus the analyst consensus of $1.58 billion.
  • Application Software revenue grew 48.5% Y/Y $591.6 million with a 69.2% gross margin, up 50 basis points.
  • Revenue from Network Software & Systems rose 8.7% Y/Y to $458.7 million, with a corresponding segment gross margin at 69.5%, up 200 basis points.
  • Measurement & Analytical Solutions segment revenue increased 9.1% Y/Y to $397 million with a 58% gross margin, down 290 basis points.
  • Revenue from the Process Technologies segment improved 16.2% Y/Y to $140.3 million with a 53.9% gross margin, up 120 basis points.
  • Organic revenue grew 7% with broad-based contributions from each of the four segments, including strong organic growth across its portfolio of software businesses. Acquisitions/Divestitures contributed 12% growth to the revenue.
  • The adjusted gross margin expanded 40 basis points to 65.1%.
  • The EBITDA margin expanded by 110 basis points 36.4%.
  • The adjusted EPS of $3.76 beat the analyst consensus of $3.67.
  • Roper generated $426 million in operating cash flow. It held $337.8 million in cash and equivalents.
  • Outlook: It raised the adjusted FY21 EPS guidance to $15.00 - $15.20, up from the previous guidance of $14.75 - $15.00, compared to the consensus of $15.01.
  • It sees Q3 EPS of $3.80 - $3.84 versus the analyst consensus of $3.84.
  • Price action: ROP shares traded lower by 0.36% at $491.6 in the premarket session on the last check Friday.
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Posted In: EarningsNewsGuidanceTechBriefs
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