Earnings release
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Contact Information : Investor Relations 941-556-2601 investor-relations@ropertech.com Roper Technologies Announces Record First Quarter Results and Increases Full Year Guidance ROPER Roper Technologies , Inc. Sarasota , Florida , April 27 , 2021 ... Roper Technologies , Inc. ( NYSE : ROP ) , a leading diversified technology company , reported financial results for the first quarter ended March 31 , 2021 . First quarter GAAP and adjusted revenue increased 13 % to $ 1.53 billion , while organic revenue decreased 1 % ( compared to 4 % growth in the first quarter of 2020 ) . GAAP and adjusted gross margin were 65.0 % , expanding 160 basis points and 150 basis points , respectively . GAAP diluted earnings per share ( " DEPS " ) was $ 2.73 , a 20 % increase , and adjusted DEPS was $ 3.60 , an 18 % increase . EBITDA increased 20 % to $ 561 million and EBITDA margin expanded 220 basis points to 36.7 % . Operating cash flow increased 54 % to $ 560 million , representing 37 % of revenue , and free cash flow increased 54 % to $ 543 million . " We are very pleased with the strong performance by our businesses in the first quarter , " said Neil Hunn , Roper's President and CEO . " We grew revenue , EBITDA , DEPS , and cash flow double - digits . Our 2020 software acquisitions , led by Vertafore , continue to perform very well . We also reduced our debt by approximately $ 500 million in the quarter , once again demonstrating our ability to quickly de - lever after acquisitions . " " The quality of our enterprise continues to improve as we see meaningful growth in our recurring revenue base , " said Mr. Hunn . " We are also encouraged by signs of recovery across end - markets that were impacted by the pandemic . As a result , we are very well positioned for continued double - digit compounding . " Increasing 2021 Guidance The Company now expects full year adjusted DEPS of $ 14.75 - $ 15.00 , compared to previous guidance of $ 14.35 - $ 14.75 . For the second quarter of 2021 , the Company expects adjusted DEPS of $ 3.61 - $ 3.65 . The Company's guidance excludes the impact of unannounced future acquisitions or divestitures . 1