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Roper Technologies raises FY'19 outlook; Q3 earnings climb 11% YOY

Roper Technologies Inc. raised its full-year 2019 outlook after posting an 11% year-over-year growth in its third-quarter GAAP earnings per share.

The company is now targeting 2019 EPS in the range of $12.98 to $13.02, from the previous range of $12.94 to $13.06. Roper expects fourth-quarter EPS to be between $3.32 and $3.36.

The revised guidance takes into account the planned divestiture of Gatan Inc., scheduled to close at the end of October.

Roper's third-quarter net earnings increased to $277.5 million, or $2.64 per share, from $247.6 million, or $2.37 per share, in the prior-year period. Adjusted EPS was $3.29, up from $3.09 in the prior-year period and above the S&P Global Market Intelligence normalized estimate of $3.21.

The company posted net revenues of $1.35 billion in the third quarter, up from $1.32 billion in the prior-year period. Income from operations increased to $385.2 million from $377.5 million.