Q2 2024 Roper Technologies Inc Earnings Call Transcript
Key Points
- Roper Technologies Inc (ROP) delivered a solid quarter with total revenue growth of 12% and organic revenue growth of 4%.
- EBITDA increased by 13%, with EBITDA margins expanding by 20 basis points to 40.5%.
- Free cash flow grew by 24% in the quarter and 35% on a trailing twelve-month basis, with free cash flow margins at 32%.
- The company is increasing the bottom end of its full-year guidance, reflecting confidence in its outlook.
- Roper Technologies Inc (ROP) continues to be active in the M&A market, with a large pipeline of attractive opportunities and over $4 billion in capital deployment capacity.
- Neptune faced production efficiency challenges with mechanical meters, impacting overall performance.
- The Freight Matching businesses, DAT and Loadlink, experienced declines due to challenging market conditions.
- Foundry, the postproduction media and entertainment software business, was negatively impacted by recent industry strikes.
- Northern Digital (NDI) experienced a decline due to customer program timing, affecting overall segment performance.
- Deltek's GovCon side faced sluggishness due to government spending uncertainty, impacting bookings activity.
Good morning. The Roper Technologies Conference Call will now begin. Today's call is being recorded. (Operator Instructions)
I would now like to turn the call over to Zack Moxcey, Vice President of Investor Relations. Please go ahead.
Good morning and thank you all for joining us. We discussed the second quarter 2024 financial results for Roper Technologies. Joining me on the call this morning are Neil Hunn, President and Chief Executive Officer; Jason Conley, Executive Vice President and Chief Financial Officer; Brandon Cross, Vice President and Principal Accounting Officer; and Shannon Callahan, Vice President of Finance.
Earlier this morning, we issued a press release announcing our financial results. The press release also includes replay information for today's call. We have prepared slides to accompany today's call, which are available through the webcast and are also available on our website.
Now if you please turn to page 2. We begin with our safe
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