Roper Industries ROP reported stronger-than-expected earnings for the third quarter.
The Sarasota, Florida-based company posted a quarterly net profit of $155.5 million, or $1.54 per share, compared to $136.3 million, or $1.36 per share, in the year-ago period. Excluding non-recurring costs, the company earned $1.55 per share.
Its revenue gained 7% to $884.1 million. However, analysts were estimating earnings of $1.53 per share on revenue of $887.75 million.
GAAP gross margin rose 100 basis points to 59.3%, while adjusted gross margin widened to 59.4%.
"Our businesses continue to perform exceptionally well," said Brian Jellison, Roper's Chairman, President and CEO. "Revenue growth in the quarter was broad-based, with organic increases in each segment. We are encouraged by the continued strength in orders, which exceeded revenue in all four segments. We delivered free cash flow of $217 million, representing 24.5% of revenue."
For the current quarter, Roper projects earnings of $1.75 to $1.81 per share, versus analysts' estimates of $1.77 per share. For the full year, the company now projects earnings of $6.32 to $6.38 per share, versus earlier forecast of $6.27 to $6.37 per share.
Roper shares gained 0.43% to close at $151.18 on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in