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.
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