Q3 2024 Roper Technologies Inc Earnings Call Transcript
Key Points
- Roper Technologies Inc (ROP) reported a 13% increase in total revenue and a 10% increase in EBITDA for the third quarter.
- The company completed the acquisition of Transact Campus, which is expected to be immediately cash accretive and contribute significantly to revenue and EBITDA next year.
- Roper Technologies Inc (ROP) raised its full-year guidance, reflecting strong enterprise software bookings and improved margin performance.
- Free cash flow grew by 15% in the quarter, marking the highest ever quarterly free cash flow for the company.
- The company has a robust pipeline of acquisition opportunities and over $4 billion of capacity for capital deployment, indicating strong future growth potential.
- Organic revenue growth was only 4%, which is below the company's expectations and indicates some challenges in achieving higher growth rates.
- The network software segment experienced only 1% organic growth, impacted by temporary headwinds in freight matching businesses and the media and entertainment sector.
- Foundry, a post-production media and entertainment software business, faced declines due to industry strikes, with recovery expected to take longer than anticipated.
- The mechanical meter production challenges at Neptune affected performance, although the company has taken corrective actions.
- The company faces ongoing macroeconomic headwinds, particularly in the transportation sector, which could impact future performance.
Good morning. The Roper Technologies conference call will now begin. Today's call is being recorded. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing star zero. I would now like turn the call over to Zack Moxcey, Vice President and Investor Relations. Please go ahead.
But as you all for joining us because that's the third quarter 2024 financial results for Roper Technologies. For any view. On the call this morning are Neil Koehler, President and Chief Executive Officer, Jason Conley, Executive Vice President and Chief Financial Officer, Brent Cross, Vice President and Principal Accounting Officer, and Shannon O'Callaghan, Senior Vice President of Finance. Earlier this morning, we issued a press release announcing our financial results. 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
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