Roper Technologies, Inc. (ROP) Q3 2022 Earnings Call Transcript

Roper Technologies, Inc. (NYSE:ROP) Q3 2022 Earnings Conference Call October 26, 2022 8:00 AM ET

Company Participants

Zack Moxcey – Vice President-Investor Relations

Neil Hunn – President and Chief Executive Officer

Rob Crisci – Executive Vice President and Chief Financial Officer

Jason Conley – Vice President and Chief Accounting Officer

Conference Call Participants

Deane Dray – RBC Capital Markets

Scott Davis – Melius Research

Joe Giordano – Cowen

Christopher Glynn – Oppenheimer

Julian Mitchell – Barclays

Steve Tusa – J.P. Morgan

Allison Poliniak – Wells Fargo

Joe Ritchie – Goldman Sachs

Brendan Luecke – Alliance Bernstein

Alex Blanton – Clear Harbor Asset Management

Operator

Good morning. The Roper Technologies Conference Call will now begin. Today's call is being recorded and all participants will be in listen-only mode. [Operator instructions]

I would now like to turn the call over to Zack Moxcey, Vice President, Investor Relations. Please go ahead.

Zack Moxcey

Good morning and thank you all for joining us as we discuss the third quarter financial results for Roper Technologies. Joining me on the call this morning are Neil Hunn, President and Chief Executive Officer; Rob Crisci, Executive Vice President and Chief Financial Officer; Jason Conley, Vice President and Chief Accounting Officer; and Shannon O'Callaghan, 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 harbor statement. During the course of today's call, we will make forward-looking statements which are subject to risks and uncertainties as described on this page, in our press release and in our SEC filings. You should listen to today's call in the context of that information. And now please turn to Page 3. Unless otherwise noted, we will discuss our results and guidance on an adjusted non-GAAP and continuing operations basis. For the third quarter, the difference between our GAAP results and adjusted results consists of the following items: amortization of acquisition-related intangible assets; purchase accounting adjustments to commission expense; transaction related expenses for completed acquisitions; and lastly we have adjusted our cash flow statement to exclude the cash taxes paid related to our divestiture activities. GAAP requires these payments to be classified as operating cash flow items even though they are related to divestitures. Reconciliations can be found in our press release and in the appendix of this presentation on our website.