The financial results for the first quarter, which ended March 31, 2019, highlighted a variety of positive growth indicators for the diversified technology company.
First quarter GAAP and adjusted revenue increased 7 percent to $1.29 billion, and organic revenue increased by 6 percent. EBITDA was up 13 percent to $438 million and EBITDA margin expanded 170 basis points to 34.0 percent.
“Our diversified portfolio of businesses delivered another excellent quarter, highlighted by strong organic growth, operating leverage and cash flow performance,” Neil Hunn, Roper’s President and CEO, said in the report. “EBITDA grew 13 percent for the enterprise and margins expanded in each of our four segments, demonstrating the strength and breadth of our asset-light, niche market business model.”
Roper expects to continue its streak of profitable quarters by growing the company.
“We completed the acquisition of Foundry last week, welcoming another industry-leading, niche software business to the Roper family,” Hunny added. “We remain well-positioned and confident in our ability to continue compounding cash flow through a combination of organic growth and disciplined capital deployment.”
With this and other future acquisitions in mind, the company now expects full year adjusted DEPS of $12.70-$13.00, compared to previous guidance of $12.00-$12.40. In the second quarter, the company estimates an adjusted DEPS of $3.00-$3.04.