Roper Technologies: 2Q Earnings Snapshot
SARASOTA, Fla. (AP) _ Roper Technologies Inc. (ROP) on Thursday reported second-quarter profit of $249.7 million.
The Sarasota, Florida-based company said it had profit of $2.38 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $3.07 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.04 per share.
The industrial equipment maker posted revenue of $1.33 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.35 billion.
For the current quarter ending in October, Roper Technologies expects its per-share earnings to range from $3.16 to $3.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.21.
The company expects full-year earnings in the range of $12.94 to $13.06 per share.
Roper Technologies shares have risen 41% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has climbed 33% in the last 12 months.