Courtesy of Benzinga.
Roper Industries (NYSE: ROP) reported a rise in its second quarter profit and raised its full-year earnings forecast.
The Sarasota, Florida-based company posted its quarterly earnings per share of $1.56, a 41% rise versus last year’s GAAP per-share earnings and a 19% gain from last year’s adjusted per-share earnings. Its net earnings in the quarter came in at $157 million.
Its revenue rose 13% to $885 million. However, analysts were expecting earnings of $1.50 per share on revenue of $873.19 million.
Roper’s operating profit came in at $247 million, while orders climbed 5% to $874 million.
Operating cash flow came in at $141 million.
Brian Jellison, Roper’s Chairman, President and CEO said, “Our businesses performed exceptionally well in the quarter, with record second quarter performance for orders, revenue, operating profit and EBITDA.”
Roper now expects full year earnings of $6.27 to $6.37 per share, versus its earlier forecast of $6.22 to $6.36 per share. It also projects Q3 earnings of $1.49 to $1.53 per share, versus analysts’ estimates of $1.57 per share.
Roper shares fell 0.14% to close at $142.76 on Friday.
