- Roper Technologies, Inc (NYSE:ROP) reported fourth-quarter FY22 adjusted revenue growth of 14% year-over-year to $1.43 billion, which was in line with the consensus. Organic revenue grew 7% Y/Y.
- Sales by segments: Application Software $739.8 million (+22.2% Y/Y), Network Software $350.5 million (+8.7% Y/Y), Technology Enabled Products $340.6 million (+3.7% Y/Y).
- Gross margin was flattish at 70%. Adjusted EBITDA margin expanded by 110 bps to 41.4%.
- Adjusted EPS of $3.92 beat the consensus of $3.77.
- Roper held $792.8 million in cash and equivalents.
- CEO Neil Hunn said, “During the year, we significantly improved the quality and reduced the cyclicality of our portfolio as we concluded our multi-year divestiture activities. Additionally, we deployed $4.3 billion toward acquisitions of high-quality vertical software businesses, highlighted by Frontline Education.”
- FY23 Outlook: Roper expects Q1 adjusted EPS of $3.80 – $3.84 versus the consensus of $3.82.
- Roper predicts FY23 organic revenue growth of 5% – 6%.
- The company expects FY23 adjusted EPS of $15.90 – $16.20 versus the consensus of $15.95.
- Price Action: ROP shares traded lower by 0.97% at $440.16 on the last check Friday.
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