Roper Technologies Boosts FY22 Adj. EPS Outlook; Q2 Profit Top Estimates

While reporting financial results for the second quarter on Thursday, Roper Technologies, Inc. (ROP) raised its adjusted earnings from continuing operations guidance for the full-year 2022. The company also provided outlook for the third quarter.

For fiscal 2022, the company now projects adjusted earnings from continuing operations in a range of $13.46 to $13.62 per share.

Previously, the company expected adjusted earnings in the range of $15.50 to $15.75 per share. However, it would have been in the range of $13.20 to $13.45 per share on a comparable basis, excluding $2.30 for the industrial businesses now reported as discontinued operations.

On average, ten analysts polled by Thomson Reuters expect the company to report earnings of $15.69 per share for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings from continuing operations in a range of $3.42 to $3.46 per share, while the Street is looking for earnings of $3.80 per share for the quarter.

For the second quarter, the company reported net earnings of $268.8 million or $2.52 per share, down from $286.3 million or $2.69 per share in the prior-year quarter. Excluding items, adjusted earnings from continuing operations were $3.95 per share, compared to $3.44 per share in the year-ago quarter.

Reported and adjusted revenue for the quarter increased 10 percent to $1.31 billion from $1.19 billion in the same quarter last year.

The Street was looking for earnings of $3.65 per share on revenues of $1.44 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Inditex SA were gaining around 6 percent in the morning trading in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company said its store and online sales in constant currency between May 1 and June 4 increased 16.. The U.S. Consumer Product Safety Commission or CPSC, along with Golden, Colorado-based Boppy Co., urged consumers to stop using recalled Boppy Newborn Loungers, following reports of more infant deaths. They also asked online marketplaces to stop selling the recalled product. The company in September 2021 had recalled over 3.3 million infant lounging pillows after it was connected with deaths of 8 Apple has unveiled a bunch of new products for its customers including its first spatial computer Vision Pro Headset. The tech major has also introduced iOS 17, 15-inch MacBook Air, iPadOS 17, TvOS 17 For Apple TV, WatchOS 10 For Apple Watch, New Mac Studio, Mac Pro, and M2 Ultra, among others. The Apple Vision Pro features visionOS, the world's first spatial operating system.
Follow RTT