- Roper Technologies Inc (NYSE:ROP) reported first-quarter FY23 revenue growth of 15% year-over-year to $1.47 billion, which topped the consensus of $1.44 billion. Organic revenue grew 8% Y/Y.
- Adjusted EPS of $3.90 (+19.3% Y/Y) beat the consensus of $3.85.
- Sales by segments: Application Software $761.4 million (+21.2% Y/Y), Network Software $354.5 million (+4.7% Y/Y), Technology Enabled Products $353.8 million (+13% Y/Y).
- Gross margin decreased by 80 basis points at 69.3%.
- Roper held $1.18 billion in cash and equivalents by the end of the quarter.
- “With a combination of significant M&A firepower and a large universe of high-quality acquisition opportunities, we remain well positioned to continue executing our disciplined and process-driven approach to capital deployment,” said CEO Neil Hunn.
- FY23 Outlook: Roper now expects full-year 2023 adjusted earnings of $16.10-$16.30, compared to the previous guidance of $15.90-$16.20.
- For the second quarter of 2023, the company expects adjusted earnings of $3.96-$4.
- ROP Price Action: Roper Technologies shares traded higher by 3.18% at $444.77 on the last check Thursday.
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