Roper Industries (ROP) Tops Q4 EPS by 9c, Miss on Revenues; Offers 1Q18 & FY18 EPS Guidance Above Conesnsus

Roper Industries (NYSE: ROP) reported Q4 EPS of $2.70, $0.09 better than the analyst estimate of $2.61. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.24 billion.

2018 Outlook and Guidance

“The Tax Cuts and Jobs Act will provide significant benefits for Roper,” said Mr. Jellison. “The expected decrease in our effective tax rate will lead to increases in both earnings and cash flow in 2018 and beyond. Furthermore, our ability to better access our cash worldwide will enable us to accelerate investment and continue pursuing attractive acquisition opportunities from a robust pipeline.”

Roper expects full year adjusted DEPS between $10.88 and $11.20 with first quarter adjusted DEPS between $2.44 and $2.50.

Fourth Quarter 2017

• Fourth quarter GAAP and adjusted revenue increased 21% to $1.23 billion, and organic revenue grew 5%. GAAP gross margin expanded 40 basis points to 62.4% and adjusted gross margin expanded 30 basis points to 62.6%.
• GAAP DEPS was $4.27, and adjusted DEPS was $2.70, a 23% increase. Adjusted results exclude a one-time net gain of $215 million resulting from the Tax Cuts and Jobs Act, in addition to customary adjustments.
• Adjusted EBITDA grew 21% to $441 million. Operating cash flow and free cash flow both increased 36% to $369 million and $353 million, respectively.

The Company’s guidance excludes the impact of future acquisitions or divestitures.

GUIDANCE:

Roper Industries sees FY2018 EPS of $10.88-$11.20, versus the consensus of $10.28.

Roper Industries sees Q1 2018 EPS of $2.44-$2.50, versus the consensus of $2.31.

For earnings history and earnings-related data on Roper Industries (ROP) click here.

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