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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.
Mettler-Toledo
Mettler-Toledo
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.
- Global market conditions remain soft.
- Forward-looking statements may not be accurate or complete.