Roper Technologies Q2 Profit Beats View, Revenue Misses; Lifts FY19 EPS Outlook

(RTTNews) - Roper Technologies, Inc. (ROP) on Thursday reported an increase in net earnings for the second quarter to $249.7 million or $2.38 per share from $228.4 million or $2.19 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $3.07 per share, compared to $2.89 per share in the same period last year.

On average, 12 analysts polled by Thomson Reuters expected the company to earn $3.05 per share. Analysts' estimates usually exclude special items.

Net revenue for the quarter grew 3 percent to $1.33 billion from $1.29 billion in the same quarter last year. Adjusted revenue also increased 3 percent. Wall Street was looking for revenue of $1.35 billion.

Looking ahead to the third quarter, Roper Technologies expects adjusted earnings per share of $3.16 to $3.20.

The company noted that the agreement to divest its Gatan business to Thermo Fisher was terminated on June 10. As such, the company's guidance now includes Gatan for the full year.

The Street expects the company to report earnings of $3.25 per share for the quarter.

The company raised its outlook for fiscal 2019 adjusted earnings per share to a range of $12.94 to $13.06 from the prior range of $12.70 to $13.00. Analysts expect earnings of $12.85 per shares for the year.