Roper Technologies, Inc. (ROP) on Monday announced that it expects a rise in third- quarter earnings. In addition, the company has revised up its annual revenue growth guidance.
Neil Hunn, CEO of Roper Technologies, said: "We are once again increasing our full year outlook, supported by our strong second quarter results, the continued expansion of our recurring revenue base, and resilient demand for our businesses' mission critical solutions."
For the third quarter, the company expects adjusted earnings in a range of $5.08 to $5.12 per share, compared with $4.48 per share in the same period last year.
On average, 14 analysts polled forecast the company to record earnings of $5.08 per share for the quarter. Analysts' estimates typically exclude special items.
For the full year, Roper Technologies anticipates adjusted earnings of $19.90 to $20.05 per share, compared with the previous guidance of $19.80 to $20.05 per share. Analysts, on average, expect Roper to register an annual income of $19.94 per share.
The company increased its annual revenue growth outlook to around 13% from the previous outlook of approximately 12%.
For the second quarter, the company posted a net profit of $378.3 million, or $3.49 per share, higher than $337.1 million, or $3.12 per share, in the same period last year.
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