Mettler-Toledo International Inc. (NYSE:MTD) Q2 2020 Earnings Conference Call July 30, 2020 5:00 PM ET Company Participants Mary Finnegan ??? Investor Relations Olivier Filliol ??? Chief Executive Officer Shawn Vadala ??? Chief Financial Officer Conference Call Participants Tycho Peterson ??? JPMorgan Mike Ryskin ??? Bank of America Dan Macek ??? Stifel Vijay Kumar ??? Evercore ISI Dan Leonard ??? Wells Fargo Steve Beuchaw ??? Wolfe Research Patrick Donnelly ??? Citi Steve Willoughby ??? Cleveland Research ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2020, OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____________ TO Commission File Number: 1-13595 Mettler Toledo International Inc ___________________________________________________________ ...

Mettler-Toledo International, Inc. (NYSE:MTD) Q1 2020 Results Conference Call May 7, 2020 5:00 PM ET Company Participants Mary Finnegan - IR Olivier Filliol - CEO Shawn Vadala - CFO Conference Call Participants Tycho Peterson - JP Morgan Mike Ryskin - Bank of America Vijay Kumar - Evercore ISI Jesse Klink - Citi Steve Willoughby - Cleveland Research Brandon Couillard - Jefferies John Sourbeer - UBS Operator Good day, ladies and gentlemen, and welcome to the First Quarter 2020 Mettler-Toledo International Ea ...

Earnings Webcast May 7, 2020 Mettler-Toledo International Inc. Q1 2020 Financial Results Safe Harbor Statement 2 May 7, 2020 Statements in this presentation which are not historical facts constitute "forward looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses, actual results, levels of activity ...

Financial Performance - Total revenue for the three months ended March 31, 2020, was $649.2 million, a decrease of 4.4% compared to $679.5 million for the same period in 2019[49]. - Product revenue for the three months ended March 31, 2020, was $489.3 million, while service revenue was $159.9 million, representing a decline of 6.1% and an increase of 0.5% respectively compared to the prior year[49]. - Total net sales for the three months ended March 31, 2020, were $649.162 million, a decrease from $679.452 million in the same period of 2019, representing a decline of approximately 4.4%[90]. - Net sales for the three months ended March 31, 2020, were $649.2 million, a decrease of 4% compared to $679.5 million in the same period of 2019[108]. - Comprehensive income for the three months ended March 31, 2020, was $74.087 million, down from $124.465 million in 2019, indicating a decline of about 40%[77]. - The Company recorded net earnings of $98.115 million for the three months ended March 31, 2020, compared to $111.805 million for the same period in 2019, reflecting a decrease of approximately 12%[77]. Expenses and Costs - The company recognized amortization expense for intangible assets of $3.9 million for the three months ended March 31, 2020, compared to $3.7 million for the same period in 2019, indicating a year-over-year increase of about 5.4%[25]. - The Company recorded share-based compensation expense of $4.4 million for the three months ended March 31, 2020, slightly down from $4.5 million in the same period of 2019[38]. - Selling, general and administrative expenses were 30.6% of net sales for the three months ended March 31, 2020, up from 30.1% in the same period of 2019, despite a 3% decrease in expenses[119]. - Research and development costs are expensed as incurred, reflecting the company's commitment to innovation and product development[39]. - Research and development expenses decreased by 5% in both U.S. dollars and local currencies, remaining at 5.3% of net sales for the three months ended March 31, 2020[118]. - The Company incurred net periodic pension cost of $1.856 million for the three months ended March 31, 2020, compared to $2.788 million in the same period of 2019, reflecting a decrease of approximately 33.4%[85]. Assets and Liabilities - As of March 31, 2020, total inventories amounted to $292.1 million, an increase from $274.3 million as of December 31, 2019, reflecting a growth of approximately 6.3%[23]. - The company’s goodwill and other intangible assets totaled $205.7 million as of March 31, 2020, compared to $206.2 million as of December 31, 2019, showing a slight decrease[24]. - Trade accounts receivable are recorded at the invoiced amount, with an allowance for expected credit losses based on historical and current information[21]. - The company’s operating lease right-of-use assets and lease liabilities are recognized at the commencement of the lease based on the present value of lease payments[34]. - The Company had derivative assets totaling $2.7 million and derivative liabilities totaling $14.6 million as of March 31, 2020[64]. - The fair value of the Company's debt exceeded the carrying value by approximately $21.0 million as of March 31, 2020[68]. - As of March 31, 2020, the Company had total debt of $1.569 billion, with long-term debt amounting to $1.513 billion[71]. Cash Flow and Liquidity - Cash provided by operating activities totaled $65.5 million during the three months ended March 31, 2020, down from $98.8 million in the same period in 2019, with higher tax payments contributing to the decrease[138]. - The Company maintained liquidity with approximately $342.9 million of additional borrowings available and $323.6 million in cash and cash equivalents as of March 31, 2020[103]. - Cash equivalents were $10.9 million as of March 31, 2020, up from $8.2 million as of December 31, 2019[67]. - The Company has $1.1 billion remaining in its share repurchase program, with $200 million spent on repurchases during the three months ended March 31, 2020[75]. Market and Economic Conditions - The COVID-19 pandemic negatively impacted the Company's business, particularly in China, leading to reduced customer demand and anticipated lower global sales volume in future quarters[105]. - The company expects net sales in local currencies to be adversely affected by COVID-19 related unfavorable economic conditions and reduced customer demand in future quarters[108]. - Total net sales in Chinese Operations decreased by 16% to $149.3 million, with segment profit declining 23% to $45.6 million due to reduced customer demand related to COVID-19[132][134]. Taxation - The reported tax rate for the three months ended March 31, 2020, was 17%, compared to 11% for the same period in 2019[69]. - The reported tax rate increased to 17% for the three months ended March 31, 2020, compared to 11% in the same period of 2019[122]. Restructuring and Charges - The Company recognized restructuring charges of $1.9 million for the three months ended March 31, 2020, with a balance of $6.969 million in accrued liabilities as of that date[86]. - Restructuring charges for the three months ended March 31, 2020, included $0.3 million related to U.S. operations, $0.7 million to Swiss operations, and $0.8 million to Western European operations[93].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-13595 Mettler-Toledo International Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2019, OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____________ TO ________________ Commission File Number: 1-13595 Mettler Toledo International Inc _______________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2019, OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____________ TO ________________ Commission File Number: 1-13595 Mettler Toledo International Inc and Im Langacher, P.O. Box MT-100 CH 8606 Gr ...

[PART I. FINANCIAL INFORMATION](index=2&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited interim consolidated financial statements for Q1 2019 and 2018, covering operations, balance sheets, cash flows, and detailed notes [Interim Consolidated Statements of Operations and Comprehensive Income](index=3&type=section&id=Interim%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income) Total net sales increased to **$679.5 million** in Q1 2019, with net earnings rising to **$111.8 million** and diluted EPS reaching **$4.42** Consolidated Statements of Operations Highlights (Q1 2019 vs Q1 2018) | Metric | Three months ended March 31, 2019 (thousand) | Three months ended March 31, 2018 (thousand) | | :--- | :--- | :--- | | **Total Net Sales** | $679,452 | $660,821 | | **Gross Profit** | $388,319 | $374,933 | | **Earnings Before Taxes** | $125,676 | $117,439 | | **Net Earnings** | $111,805 | $93,304 | | **Diluted EPS** | $4.42 | $3.58 | [Interim Consolidated Balance Sheets](index=4&type=section&id=Interim%20Consolidated%20Balance%20Sheets) Total assets were **$2.64 billion**, liabilities **$2.07 billion**, and shareholders' equity **$561.8 million** as of March 31, 2019, impacted by repurchases Consolidated Balance Sheet Highlights | Metric | March 31, 2019 (thousand) | December 31, 2018 (thousand) | | :--- | :--- | :--- | | **Total Current Assets** | $969,384 | $1,045,860 | | **Total Assets** | $2,636,697 | $2,618,847 | | **Total Current Liabilities** | $707,964 | $734,434 | | **Total Liabilities** | $2,074,947 | $2,028,784 | | **Total Shareholders' Equity** | $561,750 | $590,063 | [Interim Consolidated Statements of Cash Flows](index=6&type=section&id=Interim%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities increased to **$98.8 million** in Q1 2019, while financing activities used **$136.2 million**, resulting in a **$51.6 million** net decrease in cash Consolidated Statements of Cash Flows Highlights (Q1 2019 vs Q1 2018) | Metric | Three months ended March 31, 2019 (thousand) | Three months ended March 31, 2018 (thousand) | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $98,795 | $76,564 | | **Net Cash used in Investing Activities** | ($17,530) | ($22,463) | | **Net Cash used in Financing Activities** | ($136,199) | ($107,683) | | **Net Decrease in Cash** | ($51,630) | ($49,738) | [Notes to the Interim Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Interim%20Consolidated%20Financial%20Statements) Detailed notes explain accounting policies, including revenue recognition, segment reporting, debt, share repurchases, and the adoption of ASC 842 - The company is a leading global supplier of precision instruments and services, with primary manufacturing in China, Germany, Switzerland, the UK, and the US[18](index=18&type=chunk) Revenue by Geographic Destination (Q1 2019 vs Q1 2018) | Region | 2019 (thousand) | 2018 (thousand) | | :--- | :--- | :--- | | Americas | $258,631 | $252,279 | | Europe | $209,555 | $205,840 | | Asia / Rest of World | $211,266 | $202,702 | | **Total** | **$679,452** | **$660,821** | Revenue by Product Category (Q1 2019 vs Q1 2018) | Category | 2019 (thousand) | 2018 (thousand) | | :--- | :--- | :--- | | Laboratory | $359,732 | $345,159 | | Industrial | $271,320 | $262,656 | | Retail | $48,400 | $53,006 | | **Total** | **$679,452** | **$660,821** | - On January 1, 2019, the company adopted the new lease accounting standard ASC 842, recognizing a **$92.7 million** right-of-use asset and a **$93.5 million** lease liability[88](index=88&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2019 financial results, highlighting **3%** net sales growth (7% local currency), gross profit, operating expenses, liquidity, and capital resources [Results of Operations – Consolidated](index=24&type=section&id=Results%20of%20Operations%20%E2%80%93%20Consolidated) Consolidated net sales grew **3%** (7% local currency) to **$679.5 million**, with gross profit margin improving to **57.2%** and net earnings increasing to **$111.8 million** Net Sales Growth by Geography (Q1 2019 YoY) | Region | Growth in U.S. Dollars | Growth in Local Currency | | :--- | :--- | :--- | | Americas | 3% | 3% | | Europe | 2% | 9% | | Asia/Rest of World | 4% | 9% | Net Sales Growth by Product Category (Q1 2019 YoY, Local Currency) | Product Category | Local Currency Growth | | :--- | :--- | | Laboratory | 8% | | Industrial | 8% | | Food Retailing | -5% | - The company estimates an annualized cost increase of approximately **$25 million** from U.S. tariffs on products imported from China and is implementing actions to mitigate the effects[112](index=112&type=chunk) [Results of Operations – by Operating Segment](index=26&type=section&id=Results%20of%20Operations%20%E2%80%93%20by%20Operating%20Segment) Operating segments showed varied performance, with Chinese Operations leading with **13%** local currency sales growth, followed by Western European Operations at **9%** - U.S. Operations: Net sales to external customers grew **2%**, driven by strong laboratory product growth despite a decline in food retailing[119](index=119&type=chunk) - Swiss Operations: Net sales to external customers increased **7%** in local currency, driven by strong growth across most product categories[122](index=122&type=chunk) - Western European Operations: Net sales to external customers grew **9%** in local currency, with strong performance in core industrial, laboratory balances, and process analytics[125](index=125&type=chunk) - Chinese Operations: Net sales to external customers increased **13%** in local currency, reflecting strong growth in both laboratory and industrial products[129](index=129&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity remains strong with cash from operations increasing to **$98.8 million**, total debt at **$1.06 billion**, and **$186.3 million** spent on share repurchases - Cash provided by operating activities increased to **$98.8 million** for the three months ended March 31, 2019, up from **$76.6 million** in the prior year period, due to higher net earnings and lower working capital outflow[135](index=135&type=chunk) - As of March 31, 2019, the company had total debt of **$1.06 billion** and **$575.2 million** of availability under its Credit Agreement[66](index=66&type=chunk)[139](index=139&type=chunk) - In April 2019, the company entered an agreement to issue **$75 million** of ten-year Senior Notes with a fixed interest rate of **3.91%**, maturing in June 2029[141](index=141&type=chunk) - The share repurchase program has **$1.9 billion** of remaining availability as of March 31, 2019, with **290,429 shares** repurchased for **$186.3 million** in Q1 2019[146](index=146&type=chunk)[147](index=147&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=31&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes were reported regarding market risk disclosures compared to the 2018 Form 10-K - As of March 31, 2019, there were no material changes to the market risk information previously disclosed in the company's 2018 Form 10-K[154](index=154&type=chunk) [Item 4. Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with modifications to internal controls for the adoption of ASC 842 - The CEO and CFO concluded that the company's disclosure controls and procedures are effective as of the end of the period covered by this report[155](index=155&type=chunk) - The company modified its processes and internal controls over financial reporting (ICFR) due to the adoption of the new lease accounting standard ASC 842 on January 1, 2019[156](index=156&type=chunk) [PART II. OTHER INFORMATION](index=32&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no material legal proceedings during the quarter - The company reports no legal proceedings[158](index=158&type=chunk) [Item 1A. Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) No material changes were reported regarding risk factors compared to the 2018 Form 10-K - No material changes from the risk factors disclosed in the 2018 Form 10-K were reported for the quarter[158](index=158&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **290,429 shares** for **$186.3 million** in Q1 2019, with **$1.9 billion** remaining under the program Issuer Purchases of Equity Securities (Q1 2019) | Period | Total Shares Purchased | Average Price Paid per Share ($) | | :--- | :--- | :--- | | January 2019 | 105,963 | $575.72 | | February 2019 | 92,362 | $660.49 | | March 2019 | 92,104 | $697.42 | | **Total** | **290,429** | **$641.27** | - As of March 31, 2019, **$1.9 billion** remained available for repurchase under the company's share repurchase program[159](index=159&type=chunk) [Item 6. Exhibits](index=32&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-13595 Mettler-Toledo International Inc. 1900 Polaris Parkway Columbus, OH 43240 and Im Langacher 44 CH 8606 Greifensee, Switzerland ( ...