We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Roper Technologies’ (ROP - Free Report) third-quarter 2024 adjusted earnings of $4.62 per share surpassed the Zacks Consensus Estimate of $4.53. Earnings increased 7% on a year-over-year basis.
Roper’s net revenues of $1.77 million beat the consensus estimate of $1.72 billion. The top line increased 13% year over year. Organic revenues grew 4%, driven by solid momentum in the Application Software segment. Acquisitions boosted sales by 9%.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Segmental Performance of Roper
The company reports under three segments, namely Application Software, Network Software and Technology Enabled Products.
Application Software’s revenues totaled $984.4 million, representing 55.8% of the quarter’s top line. Our estimate was $927.5 million. The segment’s revenues increased 23% on a year-over-year basis. Organic revenues increased 5%. Solid demand for logos and continued customer expansion within the Aderant business augmented the segment’s performance.
Network Software & Systems generated revenues of $367.1 million, accounting for 20.8% of quarterly revenues. Our estimate was $371.7 million. Segmental revenues grew 1% year over year. Organic revenues increased 1%. Strength in the ConstructConnect business supported the segment’s performance.
The Technology Enabled Products segment generated revenues of $413.1 million, accounting for 23.4% of the quarter’s revenues. Our estimate was $423.4 million. Sales were up 4% year over year. Organic revenues grew 4%. The strong performance of the Verathon and Neptune businesses drove the segment’s top-line performance.
Roper Technologies, Inc. Price, Consensus and EPS Surprise
Roper’s cost of sales increased 16.2% year over year to $542.9 million. Gross profit increased 11.4% to about $1.2 billion, while the gross margin decreased to 69.2% from 70.1% in the year-ago quarter.
Selling, general and administrative expenses increased 11.5% year over year to $725.1 million. Adjusted EBITDA was $717 million, reflecting year-over-year growth of 10%. The margin decreased 100 basis points to 40.7%. Interest expenses (net) increased 61.9% year over year to $68 million.
Balance Sheet & Cash Flow of Roper
Exiting the third quarter, Roper had cash and cash equivalents of $269.6 million compared with $214.3 million at the end of December 2023. Long-term debt (net of current portion) was $7.7 billion compared with $5.8 million at the end of 2023.
Roper generated net cash of $1.7 billion from operating activities in the first nine months of 2024, reflecting an increase of 18.2% from the year-ago level. Capital expenditure totaled $39.2 million compared with $37.8 million in the year-ago period.
In the first nine months of 2024, ROP rewarded its shareholders with a dividend payment of $241.1 million, up 10.9% year over year.
Roper’s Outlook
For 2024, Roper expects adjusted earnings per share from continuing operations of $18.21-$18.25 compared with the $18.10-$18.25 stated earlier. Total revenues are expected to increase 13% compared with the 12% guided earlier. Organic revenues are anticipated to increase 6% from the year-ago reported number.
For the fourth quarter, Roper anticipates adjusted earnings of $4.70-$4.74 per share.
Logitech International S.A. (LOGI - Free Report) reported second-quarter fiscal 2025 non-GAAP earnings of $1.2 per share, which beat the Zacks Consensus Estimate of $1.1 and increased 10% year over year.
Logitech’s revenues of $1.12 billion outpaced the consensus mark of $1.09 billion. Moreover, the top line marked a year-over-year increase of 6% on a reported basis and 6% on a constant-currency basis, mainly driven by higher demand across key product categories and efficient inventory management.
CoStar Group (CSGP - Free Report) reported quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.16. This compares with earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items.
CoStar posted revenues of $692.6 million for the September-ended quarter, which missed the consensus estimate by 0.55%. This compares with year-ago revenues of $624.67 million.
Vertiv Holdings Co. (VRT - Free Report) reported quarterly earnings of $0.76 per share, which beat the Zacks Consensus Estimate of $0.71. This compares with earnings of $0.52 per share reported a year ago. These figures are adjusted for non-recurring items.
Vertiv posted revenues of $2.07 billion for the September-ended quarter, which surpassed the consensus estimate by 4.64%. This compares with year-ago revenues of $1.74 billion. The company has topped the consensus estimate for revenues three times over the last four quarters.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Roper Q3 Earnings & Revenues Beat, Application Software Sales Rise Y/Y
Roper Technologies’ (ROP - Free Report) third-quarter 2024 adjusted earnings of $4.62 per share surpassed the Zacks Consensus Estimate of $4.53. Earnings increased 7% on a year-over-year basis.
Roper’s net revenues of $1.77 million beat the consensus estimate of $1.72 billion. The top line increased 13% year over year. Organic revenues grew 4%, driven by solid momentum in the Application Software segment. Acquisitions boosted sales by 9%.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Segmental Performance of Roper
The company reports under three segments, namely Application Software, Network Software and Technology Enabled Products.
Application Software’s revenues totaled $984.4 million, representing 55.8% of the quarter’s top line. Our estimate was $927.5 million. The segment’s revenues increased 23% on a year-over-year basis. Organic revenues increased 5%. Solid demand for logos and continued customer expansion within the Aderant business augmented the segment’s performance.
Network Software & Systems generated revenues of $367.1 million, accounting for 20.8% of quarterly revenues. Our estimate was $371.7 million. Segmental revenues grew 1% year over year. Organic revenues increased 1%. Strength in the ConstructConnect business supported the segment’s performance.
The Technology Enabled Products segment generated revenues of $413.1 million, accounting for 23.4% of the quarter’s revenues. Our estimate was $423.4 million. Sales were up 4% year over year. Organic revenues grew 4%. The strong performance of the Verathon and Neptune businesses drove the segment’s top-line performance.
Roper Technologies, Inc. Price, Consensus and EPS Surprise
Roper Technologies, Inc. price-consensus-eps-surprise-chart | Roper Technologies, Inc. Quote
ROP’s Margin Profile
Roper’s cost of sales increased 16.2% year over year to $542.9 million. Gross profit increased 11.4% to about $1.2 billion, while the gross margin decreased to 69.2% from 70.1% in the year-ago quarter.
Selling, general and administrative expenses increased 11.5% year over year to $725.1 million. Adjusted EBITDA was $717 million, reflecting year-over-year growth of 10%. The margin decreased 100 basis points to 40.7%. Interest expenses (net) increased 61.9% year over year to $68 million.
Balance Sheet & Cash Flow of Roper
Exiting the third quarter, Roper had cash and cash equivalents of $269.6 million compared with $214.3 million at the end of December 2023. Long-term debt (net of current portion) was $7.7 billion compared with $5.8 million at the end of 2023.
Roper generated net cash of $1.7 billion from operating activities in the first nine months of 2024, reflecting an increase of 18.2% from the year-ago level. Capital expenditure totaled $39.2 million compared with $37.8 million in the year-ago period.
In the first nine months of 2024, ROP rewarded its shareholders with a dividend payment of $241.1 million, up 10.9% year over year.
Roper’s Outlook
For 2024, Roper expects adjusted earnings per share from continuing operations of $18.21-$18.25 compared with the $18.10-$18.25 stated earlier. Total revenues are expected to increase 13% compared with the 12% guided earlier. Organic revenues are anticipated to increase 6% from the year-ago reported number.
For the fourth quarter, Roper anticipates adjusted earnings of $4.70-$4.74 per share.
ROP’s Zacks Rank
The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
Logitech International S.A. (LOGI - Free Report) reported second-quarter fiscal 2025 non-GAAP earnings of $1.2 per share, which beat the Zacks Consensus Estimate of $1.1 and increased 10% year over year.
Logitech’s revenues of $1.12 billion outpaced the consensus mark of $1.09 billion. Moreover, the top line marked a year-over-year increase of 6% on a reported basis and 6% on a constant-currency basis, mainly driven by higher demand across key product categories and efficient inventory management.
CoStar Group (CSGP - Free Report) reported quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.16. This compares with earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items.
CoStar posted revenues of $692.6 million for the September-ended quarter, which missed the consensus estimate by 0.55%. This compares with year-ago revenues of $624.67 million.
Vertiv Holdings Co. (VRT - Free Report) reported quarterly earnings of $0.76 per share, which beat the Zacks Consensus Estimate of $0.71. This compares with earnings of $0.52 per share reported a year ago. These figures are adjusted for non-recurring items.
Vertiv posted revenues of $2.07 billion for the September-ended quarter, which surpassed the consensus estimate by 4.64%. This compares with year-ago revenues of $1.74 billion. The company has topped the consensus estimate for revenues three times over the last four quarters.