Mettler-Toledo Q3 2022 Earnings Report
Key Takeaways
Mettler-Toledo International Inc. announced a 4% increase in reported sales compared to the prior year, with a 10% increase in local currency. EPS was $9.76, while adjusted EPS was $10.18, a 17% increase over the prior-year amount.
Reported sales increased 4% compared with the prior year, with local currency sales up 10% (currency reduced sales growth by 6%).
Net earnings per diluted share (EPS) were $9.76, compared to $8.71 in the prior-year period.
Adjusted EPS was $10.18, a 17% increase over the prior-year amount of $8.72.
The company had very good growth in its Laboratory and Core Industrial businesses.
Mettler-Toledo
Mettler-Toledo
Forward Guidance
Management anticipates local currency sales growth for the fourth quarter of 2022 will be approximately 7%, and Adjusted EPS is forecast to be $11.55 to $11.65, a growth rate of 10% to 11%. For the full year 2022, management anticipates local currency sales growth will be approximately 10%, and Adjusted EPS is forecast to be in the range of $38.95 to $39.05, representing growth of approximately 15%.
Positive Outlook
- Local currency sales growth for Q4 2022 is expected to be approximately 7%.
- Adjusted EPS for Q4 2022 is forecast to be $11.55 to $11.65, a growth rate of 10% to 11%.
- Full year 2022 local currency sales growth is anticipated to be approximately 10%.
- Full year 2022 Adjusted EPS is forecast to be in the range of $38.95 to $39.05, representing growth of approximately 15%.
- Local currency sales growth in 2023 will be approximately 5%.
Challenges Ahead
- There is uncertainty in the economic environment today including challenges in the global supply chain.
- There are inflationary pressures.
- There is unfavorable foreign currency impact.
- There are potential economic impacts from COVID-19.
- There is the war in Ukraine.