WASHINGTON (dpa-AFX) - Roper Technologies Inc. (ROP), while reporting weak profit in its first quarter, but above market estimates, on Monday issued second-quarter outlook below market. Further, the company raised fiscal 2025 forecast.
Neil Hunn, Ropers President and CEO, said, 'Despite an uncertain macroeconomic backdrop, we are increasing our full year outlook. This is underpinned by resilient demand for our mission critical solutions and our expanding recurring revenue base.'
For the second quarter, the company expects adjusted earnings per share of $4.80 - $4.84.
Analysts on average had expect the company to earn $4.85 per share. Analysts' estimates typically exclude special items.
Further, for fiscal 2025, Roper now expects adjusted earnings per share of $19.80 - $20.05, compared to previous guidance of $19.75 to $20.00. Analysts expect earnings of $19.87 per share.
The company increased its full-year total revenue growth outlook to around 12 percent, compared to a previous outlook of 10 percent+, and continues to expect organic revenue growth of 6 percent to 7 percent.
Ropers' guidance includes the impact of the previously announced acquisition of CentralReach, which closed on April 23.
In its first quarter, Roper's profit decreased from last year, but beat the Street estimates.
The company's earnings came in at $331.1 million or $3.06 per share, compared with $382.0 million, or $3.54 per share, last year.
Adjusted earnings were $517 million or $4.78 per share for the period. Analysts had expected the company to earn $4.74 per share.
The company's revenue for the period rose 12.0 percent to $1.882 billion from $1.680 billion last year. Analysts expected $1.88 billion.
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