Roper Technologies Q4 Profit Drops

(RTTNews) - Roper Technologies Inc. (ROP), a diversified technology company, reported that its net earnings for the fourth quarter ended December 31, 2020 dropped to $255.8 million or $2.41 per share from $871.1 million or $8.28 per share in the prior year. Prior year GAAP results included a pretax gain of $801 million associated with the divestiture of Gatan.

Adjusted earnings per share was $3.56, a 5% increase from the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $3.48 per share. Analysts' estimates typically exclude special items.

Fourth quarter GAAP and adjusted revenue increased 8% to $1.51 billion, while organic revenue decreased 2%. Analysts expected revenues of $1.53 billion for the fourth-quarter.

Roper expects full year adjusted earnings per share to be in the range of $14.35 - $14.75 with first quarter adjusted earnings per share of $3.26 - $3.32. Analysts expect annual earnings of $14.63 per share.