While reporting financial results for the fourth quarter on Wednesday, Roper Technologies, Inc. (ROP) initiated its earnings and adjusted earnings from continuing operations as well as revenue growth guidance for the full-year 2024. The company also provided outlook for the first quarter.
For fiscal 2024, the company now projects earnings in a range of $12.77 to $13.07 per share and adjusted earnings in a range of $17.85 to $18.15 per share on total revenue growth of 11 to 12 percent, with organic revenue growth of 5 to 6 percent.
On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $18.33 per share on revenue growth of 8.9 percent to $6.69 billion for the year. Analysts' estimates typically exclude special items.
For the first quarter, the company expects earnings in a range of $3.01 to $3.05 per share and adjusted earnings in a range of $4.30 to $4.34 per share, while the Street is looking for earnings of $4.32 per share for the quarter.
For the fourth quarter, the company reported net earnings from continuing operations of $377.5 million or $3.50 per share, up from $247.3 million or $2.32 per share in the prior-year quarter. Excluding items, adjusted earnings from continuing operations were $4.37 per share, compared to $3.92 per share in the year-ago quarter.
Revenue for the quarter increased 13 percent to $1.61 billion from $1.43 billion in the same quarter last year. Organic revenue increased 8 percent.
The Street was looking for earnings of $4.34 per share on revenues of $1.58 billion for the quarter.
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