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Jun 30, 2021
Mettler-Toledo Q2 2021 Earnings Report
Mettler-Toledo reported excellent sales growth with strong broad-based growth in all regions and most product lines.
Key Takeaways
Mettler-Toledo International Inc. announced strong second quarter results for 2021, with reported sales increasing by 34% and adjusted EPS increasing by 53% compared to the prior year. Customer demand was robust and the company capitalized on growth opportunities. Management anticipates local currency sales growth in 2021 will be approximately 15%, and Adjusted EPS is forecasted to be in the range of $32.60 to $32.90.
Reported sales increased 34% compared with the prior year.
In local currency, sales increased 27% in the quarter as currency benefited reported sales growth by 7%.
Net earnings per diluted share as reported (EPS) were $7.85, compared with $5.22 in the prior-year period.
Adjusted EPS was $8.10, an increase of 53% over the prior-year amount of $5.29.
Mettler-Toledo
Mettler-Toledo
Forward Guidance
Management anticipates local currency sales growth in 2021 will be approximately 15%, and Adjusted EPS is forecasted to be in the range of $32.60 to $32.90. For the third quarter of 2021, the Company anticipates that local currency sales growth will be in the range of 11% to 13%, and Adjusted EPS is forecasted to be $8.12 to $8.27, a growth rate of 16% to 18%.
Positive Outlook
- Local currency sales growth in 2021 will be approximately 15%.
- Adjusted EPS is forecasted to be in the range of $32.60 to $32.90, an increase of 27% to 28%.
- Local currency sales growth for Q3 2021 will be in the range of 11% to 13%.
- Adjusted EPS for Q3 2021 is forecasted to be $8.12 to $8.27.
- Adjusted EPS growth rate for Q3 2021 is forecasted to be 16% to 18%.
Challenges Ahead
- Forecasting continues to be challenging.
- Market conditions are dynamic and changes to the business environment can happen quickly.
- Uncertainty remains surrounding the impact of COVID-19.
- Challenges exist in the global supply chain.
- Sales growth for the remainder of the year will reflect more challenging comparisons from the previous year.