Roper Technologies, Inc. (ROP), a prominent player in the diversified technology sector, announced a profit of $367.9 million, translating to $3.40 per share for the third quarter. This marks an increase from $347.2 million or $3.21 per share in the same period last year. Both earnings and revenue surpassed Wall Street's forecast, prompting the company to revise its full-year projections upward.
When adjusted for non-recurring items, Roper's earnings reached $499 million or $4.62 per share, surpassing the consensus expectations set at $4.53 per share. Typically, analysts' estimates are formulated without accounting for special items.
Operating income improved to $496.6 million from $446.1 million reported in the previous year.
The quarterly revenue climbed to $1.765 billion, up from $1.563 billion last year, exceeding the anticipated $1.73 billion.
Looking forward, Roper has updated its full-year adjusted earnings per share (EPS) forecast to range between $18.21 and $18.25, enhancing it from the former guidance of $18.10 to $18.25. The company also adjusted its revenue growth outlook, projecting a 13 percent increase, up from the previous forecast of 12 percent.
Analysts expect the company to achieve an EPS of $18.21 with a revenue growth of 11.9 percent for the year.
In the fourth quarter, Roper anticipates adjusted EPS to fall between $4.70 and $4.74, while the consensus estimate is slightly higher at $4.77 per share.
