TECH - Software Provider Roper Tech Boosts Annual Outlook Following Q1 Performance: The Details | Benzinga
Roper Technologies Inc (NASDAQ:ROP) reported fiscal first-quarter 2024 revenue growth of 14% year-on-year to $1.68 billion, beating the analyst consensus estimate of $1.65 billion. Adjusted EPS of $4.41 beat the analyst consensus estimate of $4.34.
Gross profit increased to $1.18 billion from $1.02 billion a year ago. Operating income increased to $483.9 million from $360.1 million the prior quarter.
Adjusted EBITDA rose 16% year over year to $676 million, and margin expanded by 60 basis points to 40.2%.
Operating cash flow for the quarter totaled $531 million, up by 14% Y/Y.
The company held $198.4 million in cash and equivalents as of March 31, 2024.
Neil Hunn, Roper Technologies’ President and CEO said, “We completed our acquisition of Procare during the first quarter and remain excited about the value creation opportunity this represents for Roper.” ...