Roper Technologies Sees Q4 Adj. Earnings Below Market View; Updates FY21 Forecast - Quick Facts

(RTTNews) - While announcing higher third-quarter results, diversified technology company Roper Technologies, Inc. (ROP) said Friday that it expects fourth-quarter adjusted earnings per share from continuing operations of $3.62 to $3.66.

On average, 11 analysts polled by Thomson Reuters expect earnings of $3.96 per share for the quarter. Analysts' estimates typically exclude special items.

Further, the company now expects expects fiscal 2021 adjusted earnings per share from continuing operations of $14.08 to $14.12. On a comparable basis, new guidance would be $15.26 - $15.30.

The previous full-year outlook was adjusted earnings per share of $15.00 - $15.20, including the businesses now reported in discontinued operations.

Analysts expect earnings of $15.2 per share for the full year.

Neil Hunn, Roper Technologies' President and CEO, said, "Over the past several months, we announced three strategic divestitures that will accelerate the transformation of our portfolio. We anticipate redeploying the net proceeds from these transactions toward our robust pipeline of high-quality acquisition opportunities, enabling us to further enhance the quality of the enterprise."

In pre-market activity on the NYSE, Roper shares were losing around 1.4 percent to trade at $474.68.