Business
Roper Technologies Announces Record 2019 Financial Results
SARASOTA, Fla., Jan. 30, 2020 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP), a leading diversified technology company, reported financial results
About this update from Roper Technologies, Inc.
[{"type":"text","content":"SARASOTA, Fla., Jan. 30, 2020 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP), a leading diversified technology company, reported financial results for the fourth quarter and full year ended December 31, 2019.\n Fourth Quarter 2019 Fourth quarter GAAP diluted earnings per share (“DEPS”) was $8.28, a 237% increase, while adjusted DEPS was $3.39, a 5% increase. GAAP results include a pretax gain of $801 million associated with the divestiture of Gatan. GAAP revenue increased to $1.39 billion and adjusted revenue increased 2% to $1.40 billion. Organic revenue increased 1%. GAAP and adjusted gross margin both expanded 60 basis points to 64.0% and 64.1%, respectively. EBITDA increased 4% to $518 million and EBITDA margin expanded 100 basis points to 37.0%. Operating cash flow was a record $466 million while free cash flow was $453 million, representing 32% of adjusted revenue. Full Year 2019 Full year GAAP DEPS was $16.82, an 86% increase, while adjusted DEPS was $13.05, a 10% increase. EBITDA increased 7% to $1.93 billion and EBITDA margin expanded 110 basis points to 35.8%. GAAP operating cash flow was $1.46 billion and adjusted operating cash flow increased 5% to $1.50 billion. Adjusted free cash flow also increased 5% to $1.44 billion, representing 27% of adjusted revenue. “It was another excellent year for Roper,” said Neil Hunn, Roper's President and CEO. “Operationally, our teams executed at a very high level while continuing to innovate and invest for long term, sustained growth. In addition, we meaningfully enhanced our portfolio through $2.4 billion of acquisitions, led by iPipeline and Foundry, and the divestitures of our Gatan and Scientific Imaging businesses. As a result, we exit 2019 in a stronger position to continue compounding cash flow and shareholder returns.” 2020 Outlook and Guidance “Roper is well positioned for a strong 2020, driven by continued organic growth across our portfolio of software and product businesses, TransCore’s significant New York City project, and contributions from our recent acquisitions,” said Mr. Hunn. “Aided by the proceeds from the Gatan divestiture, we enter the new year with significant financial capacity to execute against our large and active pipeline of high-quality acquisition opportunities.\" Roper expects full year adjusted DEPS of $13.30 - $13.60 with first quarter ad...