Roper Technology slides after Q3 results

Roper Technologies

23/10/2024 16:08

** Software firm Roper Technology's shares  ROP.O  fall 2.7%
to $537.16 in morning trading
    ** Co forecasts Q4 adj profit in the range of $4.70 to $4.74
per share, below analysts' estimate of $4.77 - LSEG data
    ** ROP faced production issues in Neptune in Q2, its smart
meter unit, which delayed revenue in technology enabled products
segment
    ** Co posts Q3 revenue of $413 mln from technology enabled
products segments, missing analysts' estimate of $415.8 mln
    ** Roper also saw expected y-o-y decline in Q3 application
software segment margins, 43.6% vs 44.6% in Q3 last yr
    ** Including session's moves, stock had fallen ~1.3% YTD

 (Reporting by Rishi Kant in Bengaluru)
 ((Rishi.Kant@thomsonreuters.com))