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Jun 30, 2024
Mettler-Toledo Q2 2024 Earnings Report
Mettler-Toledo experienced a sales decline but benefited from productivity and margin initiatives.
Key Takeaways
Mettler-Toledo's second quarter 2024 results showed a sales decline of 4% compared to the prior year, with a 2% decrease in local currency. EPS was $10.37, while adjusted EPS decreased by 5% to $9.65. The company benefited from productivity and margin initiatives, which helped mitigate foreign exchange headwinds.
Reported sales declined by 4% compared to the prior year, with local currency sales decreasing by 2%.
EPS was $10.37, which included a one-time non-cash tax benefit of $1.07 per share.
Adjusted EPS was $9.65, a decrease of 5% over the prior-year amount.
Local currency sales increased in Europe and the Americas but declined in Asia/Rest of World.
Mettler-Toledo
Mettler-Toledo
Mettler-Toledo Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comEurope Revenue
CapyFin.comAsia/Rest of World Revenue
CapyFin.com Forward Guidance
Management anticipates local currency sales for the third quarter of 2024 will increase approximately 1%, and Adjusted EPS is forecast to be $9.90 to $10.05, representing growth of 1% to 3%. For the full year, management anticipates local currency sales in 2024 will increase approximately 2%, and Adjusted EPS is forecast to be in the range of $40.20 to $40.50, representing growth of approximately 6% to 8%.
Positive Outlook
- Local currency sales expected to increase approximately 1% for Q3 2024.
- Adjusted EPS for Q3 2024 is forecast to be $9.90 to $10.05, representing growth of 1% to 3%.
- Local currency sales in 2024 are anticipated to increase approximately 2%.
- Adjusted EPS for the full year is forecast to be in the range of $40.20 to $40.50, representing growth of approximately 6% to 8%.
- Expect local currency sales to return to growth in the second half of the year due to easier comparisons, Spinnaker sales and marketing program and leveraging innovative product portfolio.
Challenges Ahead
- Market conditions are uncertain and could change quickly.
- Estimated 1% headwind to Adjusted EPS growth in Q3 due to adverse currency.
- Estimated 2% headwind to Adjusted EPS growth for the full year due to adverse currency.
- Market conditions globally have remained soft, especially in China.
- The Company does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort the timing and amount of future restructuring and other non-recurring items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income