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KENT, Ohio, May 09, 2024 (GLOBE NEWSWIRE) -- CBORD, a leading provider of higher education automation solutions, is thrilled to announce the integration of Amazon's Just Walk Out (JWO) technology at Kent State University, one of Ohio's leading public universities. Just Walk Out technology revolutionizes the campus shopping experience by detecting what shoppers take from or return to the shelves and creating a seamless virtual shopping session. Students, faculty and staff at Kent State University can now enj ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ROPER TECHNOLOGIES, INC. Washington, D.C. 20549 (Exact name of registrant as specified in its charter) FORM 10-Q Delaware 51-0263969 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-12273 (Former name, former address and f ...

Shares of Roper Technologies (ROP) have been struggling lately and have lost 5.2% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future ...

Roper Technologies’ (ROP) first-quarter 2024 adjusted earnings of $4.41 per share surpassed the Zacks Consensus Estimate of $4.34. On a year-over-year basis, earnings increased 13.1%.Roper’s net revenues of $1.68 billion beat the consensus estimate of $1.65 million. The top line increased 14% year over year. Organic sales in the quarter increased 8%, owing to strength across each of the three segments. Acquisitions boosted sales by 6%.Segmental PerformanceRoper has divested its Process Technologies segment ...

Financial Data and Key Metrics Changes - Total revenue increased by 14% year-over-year to $1.68 billion, with organic revenue growth of 8% [12][9] - EBITDA grew by 16% to $676 million, with an EBITDA margin expansion of 60 basis points to 40.2% [14][9] - Free cash flow increased by 15% year-over-year, reaching $513 million, with free cash flow margins of 31% [21][10] - Adjusted depths were $4.41, exceeding the guidance range of $4.30 to $4.34 [21][9] Business Line Data and Key Metrics Changes - Application software segment revenues grew by 18% in total and 6% organically, with EBITDA margins at 43.3% [24] - Network software segment revenues increased by 5% in total and 4% organically, with EBITDA margins at 55.9% [27] - TEP segment revenues grew by 17% organically, with EBITDA margins at 34.3% [31] Market Data and Key Metrics Changes - Organic recurring revenue grew by 7%, despite challenges in the freight match and foundry businesses [13] - The Procare acquisition contributed over $20 million in revenue for the quarter, with EBITDA margins in the mid-30s [54][10] Company Strategy and Development Direction - The company is increasing its full-year 2024 guidance for total revenue to approximately 12%, up from 11% to 12% [34] - The company remains active in the M&A market, with a robust pipeline of high-quality acquisition opportunities [11][37] - The focus on Generative AI is expected to enhance productivity and drive organic growth across various segments [86][85] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong momentum and outlook for the year, citing a solid first quarter performance [11][36] - The company anticipates low-single-digit organic revenue growth for the network software segment due to ongoing challenges in the freight market [30] - Management noted that the integration of Procare is progressing well, with expectations for continued growth in the early childhood education market [54][10] Other Important Information - The company completed the acquisition of Procare Solutions for $1.75 billion, enhancing its position in the early childhood education market [10][11] - The net debt to EBITDA ratio was reported at 2.9 times, with $4 billion available for capital deployment [22] Q&A Session Summary Question: Outlook for the network software division and freight matching business - Management confirmed expectations for low-single-digit declines in the freight match business for the year, with stable carrier conditions [46][47] Question: Contribution of Procare in the quarter and cash flow seasonality - Procare contributed over $20 million in revenue, with a consistent monthly payment stream expected throughout the year [54][54] Question: M&A market commentary and deal flow - Management expressed optimism about the M&A market, citing a large number of deals and reduced competition, which may lead to favorable valuations [78][79] Question: AI strategy and monetization - The company is seeing early wins in productivity from AI applications, with ongoing efforts to integrate these tools into existing products [86][85] Question: SaaS journey and growth opportunities - The company has significant room for converting maintenance revenue to SaaS, with ongoing efforts to roll out new platforms across the portfolio [123][125]

Roper Technologies (ROP) reported $1.68 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 14.4%. EPS of $4.41 for the same period compares to $3.90 a year ago.The reported revenue represents a surprise of +2.03% over the Zacks Consensus Estimate of $1.65 billion. With the consensus EPS estimate being $4.34, the EPS surprise was +1.61%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

Roper Technologies (ROP) came out with quarterly earnings of $4.41 per share, beating the Zacks Consensus Estimate of $4.34 per share. This compares to earnings of $3.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.61%. A quarter ago, it was expected that this industrial equipment maker would post earnings of $4.33 per share when it actually produced earnings of $4.37, delivering a surprise of 0.92%.Over the last four qua ...

[Financial Performance and Outlook](index=1&type=section&id=Financial%20Performance%20and%20Outlook) [First Quarter 2024 Financial Highlights](index=1&type=section&id=First%20Quarter%202024%20Financial%20Highlights) Roper Technologies reported a strong start to 2024, with significant growth across key metrics in the first quarter, including a 14% increase in total revenue and a 16% rise in adjusted EBITDA, supported by the acquisition of Procare and continued customer demand Q1 2024 Key Financial Metrics | Metric | Q1 2024 | Growth vs. Q1 2023 | | :--- | :--- | :--- | | Revenue | $1.68 billion | +14% | | Organic Revenue | N/A | +8% | | GAAP DEPS | $3.54 | +33% | | Adjusted DEPS | $4.41 | +13% | | GAAP Net Earnings | $382 million | +34% | | Adjusted EBITDA | $676 million | +16% | | Operating Cash Flow | $531 million | +14% | - The CEO highlighted strong execution, innovation, and investment to drive long-term growth, with the acquisition of Procare completed during the quarter expected to create significant value[3](index=3&type=chunk) - The company emphasizes its strong M&A capacity and a robust pipeline of acquisition opportunities, reinforcing its disciplined capital deployment strategy[3](index=3&type=chunk) [2024 Financial Guidance](index=1&type=section&id=2024%20Financial%20Guidance) Roper Technologies has raised its full-year 2024 adjusted DEPS guidance, reflecting strong first-quarter performance and continued business momentum, while also issuing guidance for the second quarter of 2024, excluding any potential future acquisitions or divestitures Updated Full Year 2024 Adjusted DEPS Guidance | Guidance | Previous | Current | | :--- | :--- | :--- | | Adjusted DEPS | $17.85 - $18.15 | $18.05 - $18.25 | - For the second quarter of 2024, the company expects adjusted DEPS to be in the range of **$4.42 - $4.46**[5](index=5&type=chunk) Forecasted GAAP vs. Adjusted DEPS for 2024 | Period | GAAP DEPS Forecast | Adjusted DEPS Forecast | | :--- | :--- | :--- | | Q2 2024 | $3.07 - $3.11 | $4.42 - $4.46 | | FY 2024 | $12.71 - $12.91 | $18.05 - $18.25 | [Financial Statements Analysis](index=3&type=section&id=Financial%20Statements%20Analysis) This section provides a detailed breakdown of Roper's financial performance through reconciliations of non-GAAP measures, segment data, and consolidated statements, highlighting a 16% increase in Adjusted EBITDA to $676 million, a 15% rise in free cash flow to $513 million, and revenue growth across all business segments, led by Application Software [Reconciliation of GAAP to Non-GAAP Measures](index=3&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) The company provides detailed reconciliations for key non-GAAP metrics to offer greater insight into operational performance, with Q1 2024 Adjusted EBITDA growing 16% to $676 million, margins expanding by 60 basis points to 40.2%, Adjusted DEPS increasing 13% to $4.41, and free cash flow rising 15% to $513 million Q1 2024 vs Q1 2023 Non-GAAP Reconciliation Summary ($M) | Metric | Q1 2023 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | GAAP Revenue | $1,470 | $1,681 | 14% | | Adjusted EBITDA | $582 | $676 | 16% | | Free Cash Flow | $445 | $513 | 15% | Q1 2024 vs Q1 2023 DEPS Reconciliation | Metric | Q1 2023 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | GAAP DEPS | $2.66 | $3.54 | 33% | | Adjusted DEPS | $3.90 | $4.41 | 13% | [Segment Performance](index=9&type=section&id=Segment%20Performance) All three of Roper's segments reported year-over-year growth in both net revenues and operating profit for the first quarter of 2024, with the Application Software segment being the largest contributor to revenue and showing the highest growth rate, while the Network Software segment maintained the highest operating profit margin at 45.0% Segment Net Revenues (in millions) | Segment | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Application Software | $895.2 | $761.4 | +17.6% | | Network Software | $370.8 | $354.5 | +4.6% | | Technology Enabled Products | $414.7 | $353.8 | +17.2% | | **Total** | **$1,680.7** | **$1,469.7** | **+14.4%** | Segment Operating Profit (in millions) | Segment | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Application Software | $239.6 | $193.2 | +24.0% | | Network Software | $167.0 | $147.5 | +13.2% | | Technology Enabled Products | $136.2 | $115.5 | +17.9% | | **Total** | **$542.8** | **$456.2** | **+19.0%** | [Consolidated Financial Position](index=7&type=section&id=Consolidated%20Financial%20Position) As of March 31, 2024, Roper's total assets stood at $29.98 billion, an increase from $28.17 billion at the end of 2023, primarily driven by increases in Goodwill and Other intangible assets reflecting recent acquisition activity, while total liabilities also rose to $12.18 billion from $10.72 billion, mainly due to an increase in long-term debt to finance acquisitions Condensed Balance Sheet Highlights (in millions) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total current assets | $1,425.7 | $1,481.4 | | Goodwill | $18,310.8 | $17,118.8 | | Total assets | $29,978.5 | $28,167.5 | | Total current liabilities | $2,909.5 | $2,963.2 | | Long-term debt, net | $7,222.3 | $5,830.6 | | Total liabilities | $12,180.9 | $10,722.7 | | Total stockholders' equity | $17,797.6 | $17,444.8 | [Consolidated Earnings](index=8&type=section&id=Consolidated%20Earnings) For the first quarter of 2024, Roper reported net revenues of $1.68 billion, a 14.4% increase from the prior year, with gross profit rising to $1.18 billion and income from operations growing to $481.3 million, resulting in a substantial 34.4% increase in net earnings from continuing operations to $382.0 million and a diluted EPS of $3.54 Q1 Earnings Summary (in millions, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net revenues | $1,680.7 | $1,469.7 | | Gross profit | $1,181.0 | $1,018.6 | | Income from operations | $481.3 | $401.0 | | Net earnings from continuing operations | $382.0 | $284.3 | | Diluted EPS from continuing operations | $3.54 | $2.66 | [Consolidated Cash Flows](index=10&type=section&id=Consolidated%20Cash%20Flows) In the first quarter of 2024, cash provided by operating activities increased by 14% to $531.5 million, with the company utilizing $1.86 billion for business acquisitions, a significant increase from the prior year, largely funded by $1.39 billion in net borrowings under its revolving line of credit Q1 Cash Flow Summary (in millions) | Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Cash provided by operating activities | $531.5 | $463.7 | | Cash used in investing activities | $(1,878.6) | $(26.8) | | *Acquisitions of businesses* | *$(1,858.7)* | *$(1.1)* | | Cash provided by (used in) financing activities | $1,336.9 | $(52.5) | | Net (decrease) increase in cash | $(15.9) | $388.8 | [Other Information](index=2&type=section&id=Other%20Information) [About Roper Technologies](index=5&type=section&id=About%20Roper%20Technologies) Roper Technologies is a diversified technology company, part of the Nasdaq 100, S&P 500, and Fortune 1000, whose strategy involves operating leading businesses that develop vertical software and technology-enabled products for various defensible niche markets, employing a disciplined approach to redeploying excess capital into high-quality acquisitions to compound cash flow and shareholder value - Roper Technologies is a constituent of the **Nasdaq 100**, **S&P 500**, and **Fortune 1000** indices[19](index=19&type=chunk) - The company's business model focuses on operating market-leading vertical software and technology-enabled product businesses within defensible niche markets[19](index=19&type=chunk) - A core part of Roper's strategy is the disciplined, analytical, and process-driven redeployment of excess capital toward high-quality acquisitions[19](index=19&type=chunk) [Forward-Looking Statements](index=6&type=section&id=Forward-Looking%20Statements) This section serves as a legal disclaimer, cautioning that the press release contains forward-looking statements based on management's current beliefs, which are not guarantees of future performance, highlighting that actual results could differ materially due to various risks and uncertainties, including the ability to integrate acquisitions, general economic conditions, supply chain constraints, and cybersecurity risks - Forward-looking statements regarding operating results and acquisition prospects are subject to risks and uncertainties that could cause actual results to differ materially[21](index=21&type=chunk) - Identified risks include challenges in completing and integrating acquisitions, impacts of general economic conditions, foreign exchange fluctuations, cybersecurity threats, and supply chain disruptions[21](index=21&type=chunk)

Roper Technologies, Inc. (ROP) is scheduled to release first-quarter 2024 results on Apr 26, before market open.The Zacks Consensus Estimate for Roper’s first-quarter earnings has been unchanged in the past 60 days. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 2%.The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $1.65 billion, suggesting growth of ...