just released its Q1 2023 earnings report, and the numbers are in! With a beat on revenue and earnings per share, ROP continues to impress investors with its diversified portfolio and strategic acquisitions. Let's dive into the details of this quarter's performance.
First quarter 2023 highlights
• Revenue increased 15% to $1.47B; organic revenue +8%
• GAAP DEPS increased 20% to $2.66; adjusted DEPS +19% to $3.90
• GAAP net earnings grew 20% to $284M
• Adjusted EBITDA increased 15% to $582M
• Operating CF grew 5% to $465M
CEO Neil Hunn underscores the growing organic revenue for $ROP
, which has now exceeded 7% over the last 7 quarters, highlighting the strength of the biz model and the successful transition to a SaaS model.
has now increased 2023 guidance:
Roper now expects full year 2023 adjusted DEPS of $16.10 - $16.30, compared to previous guidance of $15.90 - $16.20.
For the second quarter of 2023, the Company expects adjusted DEPS of $3.96 - $4.00.
The company continues to exhibit a strong financial position with over $4B in dry power to deploy when the right opportunities present themselves.
Segment performance, revenues and organic:
📱 Application Software - 21% ⬆️ 6% organic ⬆️
💻 Network Software - 5% ⬆️ 6% organic ⬆️
🤖 Technology Enabled Products - 13% ⬆️ 14% organic ⬆️