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Sep 30, 2020
Mettler-Toledo Q3 2020 Earnings Report
Reported strong Q3 2020 results driven by growth in China and the Laboratory business.
Key Takeaways
Mettler-Toledo International Inc. reported a 7% increase in sales compared to the prior year. Net earnings per diluted share (EPS) were $6.68, compared to $5.20 in the prior-year period. Adjusted EPS was $7.02, a 22% increase over the prior-year amount of $5.77. The company anticipates local currency sales growth in 2021 to be in the range of 4% to 6%.
Reported sales increased 7% compared with the prior year, with local currency sales up 6%.
Net earnings per diluted share (EPS) were $6.68, compared with $5.20 in the prior-year period.
Adjusted EPS was $7.02, an increase of 22% over the prior-year amount of $5.77.
Adjusted Operating Profit amounted to $230.0 million, a 17% increase from the prior-year amount of $196.2 million.
Forward Guidance
Management anticipates the local currency sales growth in the fourth quarter 2020 will be in the range of 4% to 5%, and Adjusted EPS is forecasted to be in the range of $8.60 to $8.70, an increase of 11% to 12%. For the full year 2020, local currency sales growth is expected to be approximately 1% and Adjusted EPS is forecasted to be $24.87 to $24.97, a growth rate of 9% to 10%. Management anticipates local currency sales growth in 2021 to be in the range of 4% to 6%. This sales growth is expected to result in Adjusted EPS in the range of $27.50 to $28.30.
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