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Jun 30, 2020
Mettler-Toledo Q2 2020 Earnings Report
Mettler-Toledo's Q2 2020 performance was negatively impacted by COVID-19, but sales decline was more modest than expected, with good growth in China and contributions from Laboratory and Industrial businesses, resulting in positive Adjusted EPS growth and strong cash flow.
Key Takeaways
Mettler-Toledo International Inc. reported a 6% decrease in reported sales compared to the prior year, with local currency sales decreasing by 4%. Net earnings per diluted share (EPS) were $5.22, while adjusted EPS was $5.29, a 3% increase over the prior year. The company's performance was better than expected due to growth in China and the resiliency of its Laboratory and Industrial businesses.
Reported sales decreased 6% compared with the prior year, with local currency sales down 4%.
Net earnings per diluted share (EPS) were $5.22, compared to $5.06 in the prior-year period.
Adjusted EPS was $5.29, a 3% increase over the prior-year amount of $5.16.
Company estimates local currency sales will decline approximately -1% to -3% for Q3 2020.
Forward Guidance
The Company estimates that for the third quarter 2020, local currency sales will decline approximately -1% to -3%, and Adjusted EPS is forecasted to be in the range of $5.80 to $6.00. For the full year 2020, the Company estimates that local currency sales will decline approximately -1% to -3%, and Adjusted EPS is forecasted to be in the range of $22.70 to $23.20.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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