Roper Technologies reports strong financial results in the second quarter of 2024.
From GlobeNewswire: 2024-07-24 06:55:00
Roper Technologies, Inc. (Nasdaq: ROP) reported strong financial results for the second quarter of 2024 with a 12% revenue increase to $1.72 billion. Organic revenue also rose by 4%, while adjusted DEPS increased by 9% to $4.48. The company’s adjusted EBITDA saw a 13% increase to $695 million, driving a 20% rise in operating cash flow to $384 million.
Roper Technologies’ President and CEO, Neil Hunn, highlighted the solid quarter, emphasizing the 12% revenue growth, 13% EBITDA growth, and 24% free cash flow growth. The second quarter free cash flow of $367 million brings the trailing-twelve-month adjusted free cash flow to $2.1 billion, representing 32% of revenue. Improving demand for enterprise software was also noted, despite production timing at Neptune offsetting some growth.
The company updated its 2024 guidance, now expecting full year adjusted DEPS of $18.10-$18.25 compared to previous guidance. Total revenue growth for the year is anticipated to be around 12%, with organic revenue growth expected to be approximately 6%. For the third quarter of 2024, Roper forecasts adjusted DEPS of $4.50 – $4.54, excluding potential impacts of any unannounced future acquisitions or divestitures.
Roper Technologies has organized a conference call for 8:00 AM (ET) on July 24, 2024, to discuss the financial results of the second quarter. The call can be accessed via a webcast or telephone. Information will be made available on the company’s website in advance of the call. Telephonic replays will also be accessible for up to two weeks following the call.
To provide investors with greater insight, Roper Technologies supplements its financial statements with select non-GAAP financial information to enhance transparency and understanding. Reconciliations of non-GAAP measures to GAAP measures are included in financial schedules and should be carefully evaluated. Adjustments are made for the impacts associated with minority investments in Indicor and Certinia.
Roper Technologies operates market-leading businesses focused on vertical software and technology products. The company uses a disciplined approach to redeploy excess capital towards high-quality acquisitions to drive shareholder value. More information about the company can be found on its website. Contact information for investor relations is provided for further inquiries.
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