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Roper Misses Q2 Revenue Consensus Amid Business Restructuring; Clocks 10% Revenue Growth

·1 min read
  • Roper Technologies, Inc (NYSE: ROP) reported second-quarter FY22 revenue growth of 10.2% year-over-year to $1.31 billion, missing the consensus of $1.44 billion.

  • Sales by segments: Application Software $627.5 million (+6.7% Y/Y), Network Software $342.9 million (+15.1% Y/Y), Technology Enabled Products $340.4 million (+11.9% Y/Y).

  • Gross margin contracted 100 bps to 69.5%. Operating profit margin expanded by 80 bps to 31.6%.

  • Adjusted EPS of $3.95 beat the consensus of $3.65.

  • Adjusted EBITDA margin was flattish at 39.3%.

  • Roper held $2.88 billion in cash and equivalents.

  • Restructuring: On June 1, Roper agreed to sell a majority stake in its industrial businesses, including its entire historical Process Technologies reportable segment and the industrial businesses within its historical Measurement & Analytical Solutions reportable segment.

  • Outlook: Roper expects Q3 adjusted EPS of $3.42 - $3.46, below the consensus of $3.80.

  • Roper initiated the FY22 adjusted EPS guidance from continuing operations of $13.46 - $13.62, against the consensus of $15.69.

  • Price Action: ROP shares closed higher by 1.07% at $412.73 on Thursday.

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