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Sep 30, 2024
Mettler-Toledo Q3 2024 Earnings Report
Mettler-Toledo's Q3 2024 performance saw sales growth and earnings increase, driven by strong execution of growth and margin expansion initiatives.
Key Takeaways
Mettler-Toledo International Inc. reported a 1% increase in both reported and local currency sales for the third quarter of 2024. EPS was $9.96, while adjusted EPS reached $10.21, a 4% increase year-over-year. The company experienced growth in its Laboratory business and Service, with modest growth in China amidst challenging market conditions.
Reported and local currency sales increased by 1% compared to the previous year.
Net earnings per diluted share (EPS) were $9.96, compared to $9.21 in the prior-year period.
Adjusted EPS was $10.21, a 4% increase over the prior-year amount of $9.80.
The company experienced good growth in the Laboratory business and particularly strong growth in Service.
Revenue by Geographic Location
Forward Guidance
Management anticipates local currency sales for the fourth quarter of 2024 will increase approximately 8%, which includes a benefit of approximately 6% from the previously disclosed shipping delays in the fourth quarter of 2023. Adjusted EPS is forecast to be $11.63 to $11.78, representing growth of 24% to 25%.
Positive Outlook
- Local currency sales for Q4 2024 are expected to increase by approximately 8%.
- Adjusted EPS is forecast to be $11.63 to $11.78, representing growth of 24% to 25%.
- Full-year local currency sales are expected to increase by approximately 2%.
- Full-year Adjusted EPS is forecast to be in the range of $40.35 to $40.50, representing growth of approximately 6%.
- Local currency sales growth of approximately 3% is anticipated in 2025.
Challenges Ahead
- Market conditions are uncertain and could change quickly.
- 2024 guidance includes an estimated 2% headwind to Adjusted EPS growth due to adverse currency.
- 2025 includes a headwind to growth of approximately 1.5% due to the previously mentioned 2023 shipping delays that benefited 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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