Mettler-Toledo International, Inc. (MTD) is scheduled to report first-quarter 2024 results on May 9.For the first quarter, MTD expects sales to decline 4-6% in local currency from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for the same is pegged at $880.7 million, indicating a fall of 5.2% from the year-ago period’s reported figure.Adjusted first-quarter earnings are anticipated to be $7.35-$7.75 per share, implying an 11-15% fall from the year-ago quarter’s reported number. The co ...

Financial Instruments and Liabilities - As of December 31, 2023, the fair value of cross currency swap agreements was a net liability of $16.9 million, with a potential change of approximately $8.1 million for a 100-basis-point change in interest rates and foreign currency exchange rates [267]. Taxation - The valuation allowance for deferred tax assets was $73.5 million as of December 31, 2023, based on management's estimates of future taxable income [270]. - The effective tax rate could be materially affected by changes in assumptions or income mix, with an earnings before taxes of $1.0 billion indicating that each increase of $9.7 million in tax expense would raise the effective tax rate by 1% [272]. - The company plans to repatriate earnings from multiple countries, expecting additional tax costs related to non-U.S. withholding taxes and U.S. taxes on currency gains [271]. Pension and Employee Benefits - The net periodic pension cost for the U.S. pension plan was $2.8 million for 2023, with a projected benefit obligation of $108.5 million [273]. - The weighted average return on assets assumption was 6.75% for the U.S. pension plan and 3.85% for international plans, with a 1% change impacting annual benefit plan expense by approximately $8.7 million after tax [275]. - The discount rate assumption for the U.S. pension plan was 4.68%, with a 1% change impacting annual benefit plan expense by approximately $7.5 million after tax [277]. Goodwill and Intangible Assets - Goodwill on the consolidated balance sheet was $670.1 million, with other intangible assets totaling $285.4 million as of December 31, 2023 [278]. - The company has not recognized any impairment charges for goodwill and indefinite-lived intangible assets, indicating no decline in fair value below carrying value [282]. - The company evaluates goodwill and intangible assets for impairment annually, with assessments based on qualitative factors and potential quantitative tests if necessary [280].

Financial Data and Key Metrics Changes - Sales in Q4 2023 were $935 million, a decrease of 12% in USD and 13% in local currency [5][41] - Adjusted EPS for the quarter was $9.40, a 22% decrease compared to the prior year [44] - Adjusted operating income decreased by 21% in Q4, with an adjusted operating margin of 30.1%, down 380 basis points from the prior year [43][44] - Full year 2023 local currency sales declined by 3%, with adjusted EPS declining by 4% [7][16] Business Line Data and Key Metrics Changes - Laboratory sales decreased by 18% in Q4, while industrial sales decreased by 8% [14] - Food retail sales grew by 9% in Q4, and service sales grew by 6% [14] - For the full year 2023, laboratory sales decreased by 7%, industrial sales declined by 1%, and food retail increased by 27% [6] Market Data and Key Metrics Changes - Local currency sales in the Americas declined by 7%, Europe by 16%, and Asia by 18% in Q4 [5] - Local currency sales in China declined by 23% in Q4 [5] - For the full year 2023, local currency sales in China decreased by 10% [42] Company Strategy and Development Direction - The company is focused on increasing competitive advantages through innovation and continuous improvement [4] - The Spinnaker program aims to enhance sales and marketing initiatives, leveraging digitalization and big data analytics [24][53] - The company plans to maintain and add to cost savings programs in 2024 while facing headwinds from inflation [18] Management's Comments on Operating Environment and Future Outlook - Management expects market conditions to remain soft in the first half of 2024, with a return to growth anticipated in the second half [4] - There is cautious optimism regarding customer demand, particularly in the Americas, driven by onshoring activities [23][50] - Management remains cautious about the outlook for Europe due to low PMI readings and geopolitical tensions [51] Other Important Information - The company expects local currency sales to grow approximately 1% to 2% in 2024, with adjusted EPS guidance of $39.60 to $40.30 [19] - Free cash flow is expected to be approximately $850 million in 2024, with share repurchases also estimated at $850 million [48][105] Q&A Session Summary Question: What is the outlook for the lab business in Q1 2024? - The lab business is expected to decline low to mid-single digits in Q1 and grow low single digits for the full year [33] Question: What are the EBIT margin expectations for Q1? - EBIT margins are expected to be down about 200-240 basis points in Q1, with currency having a significant negative impact [63] Question: How has sentiment on China changed? - Sentiment remains weak in China, particularly in pharma and biopharma, with no further deterioration noted [68][70] Question: What are the expectations for Europe? - Europe is expected to show positive growth, but the outlook is cautious due to recent softness in demand [111] Question: What is the pricing benefit in Q4 and outlook for 2024? - The pricing benefit in Q4 was about 4%, with an expected price realization of around 2% for 2024 [129]

Financial Performance - Net sales for Q3 2023 were $942.5 million, a decrease of 4% compared to $985.8 million in Q3 2022, while net sales for the nine months ended September 30, 2023 remained flat at $2.9 billion compared to the same period in 2022[97]. - Gross profit margin for Q3 2023 was 59.4%, slightly up from 59.3% in Q3 2022, and for the nine months ended September 30, 2023, it was 59.2%, compared to 58.6% in the same period of 2022[105]. - Total net sales in U.S. operations decreased by 5% to $388,011 thousand for the three months ended September 30, 2023, and by 2% to $1,151,517 thousand for the nine months ended September 30, 2023 compared to 2022[115]. - Total net sales in Swiss operations were flat in U.S. dollars for the three months ended September 30, 2023, while net sales to external customers increased by 23%[117]. - Total net sales in Chinese operations decreased by 25% to $232,404 thousand for the three months ended September 30, 2023, and by 12% to $767,572 thousand for the nine months ended September 30, 2023 compared to 2022[123]. - Total net sales in other operations increased by 12% to $180,616 thousand for the three months ended September 30, 2023, and by 10% to $517,406 thousand for the nine months ended September 30, 2023 compared to 2022[126]. Expenses and Costs - Research and development expenses increased by 5% in U.S. dollars for Q3 2023, totaling $46.1 million, and were 4.9% of net sales, compared to 4.5% in Q3 2022[107]. - Selling, general and administrative expenses decreased by 7% in U.S. dollars for Q3 2023, amounting to $217.4 million, and represented 23.1% of net sales, down from 23.7% in Q3 2022[108]. - Interest expense rose to $20.3 million in Q3 2023 from $14.5 million in Q3 2022, reflecting higher variable interest rates[110]. - Restructuring charges increased to $7.4 million in Q3 2023 from $2.0 million in Q3 2022, primarily due to employee-related costs[111]. Market Conditions - The company expects reduced sales in China for the remainder of 2023 due to significantly deteriorating market demand[98]. - Net sales of laboratory-related products, which accounted for approximately 55% of total net sales, decreased by 8% in U.S. dollars for Q3 2023[102]. - Net sales of industrial-related products decreased by 5% in U.S. dollars for Q3 2023, while service revenue increased by 9% in U.S. dollars for the same period[101]. Tax and Profitability - The reported tax rate for Q3 2023 was 19.7%, slightly down from 20.0% in Q3 2022[113]. - Segment profit in U.S. operations decreased by $3.2 million for the three months but increased by $14.8 million for the nine months ended September 30, 2023, due to margin expansion and cost savings initiatives[116]. - Segment profit in Chinese operations decreased by $39.5 million for the three months and by $28.9 million for the nine months ended September 30, 2023, primarily due to lower sales volume and unfavorable currency translation[125]. Cash Flow and Capital Expenditures - Cash provided by operating activities totaled $684.4 million during the nine months ended September 30, 2023, an increase from $555.4 million in the corresponding period in 2022[131]. - Capital expenditures totaled $72.9 million for the nine months ended September 30, 2023, down from $89.2 million in the corresponding period in 2022[132]. Debt and Financing - As of September 30, 2023, total debt amounted to $2.108 billion, with long-term debt at $1.929 billion[137]. - The company has $545.2 million of additional borrowings available under its Credit Agreement and $69.7 million in cash and cash equivalents[138]. - The company issued $150 million in 5.45% Senior Notes in March 2023, maturing in March 2033, to refinance existing indebtedness[141]. - The company amended its Credit Agreement in May 2023 to replace LIBOR with SOFR as the interest rate benchmark[139]. - The company was in compliance with its debt covenants as of September 30, 2023[140]. Share Repurchase Program - The company has $2.7 billion remaining for its share repurchase program as of September 30, 2023, having repurchased 31.5 million shares since the program's inception in 2004[144][145]. - During the nine months ended September 30, 2023, the company spent $724 million on share repurchases at an average price of $1,388.54 per share[145]. Currency Impact - A 1% strengthening of the Swiss franc against the euro is estimated to reduce earnings before tax by approximately $2.0 million to $2.3 million annually[147]. - A 1% weakening of the Chinese renminbi against the U.S. dollar is estimated to reduce earnings before tax by approximately $3.3 million to $3.6 million annually[148]. - A 5% weakening of the U.S. dollar against the currencies in which the company's debt is denominated would increase the reported U.S. dollar value of debt by approximately $34.1 million[149].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (State or other jurisdiction of (I.R.S Employer Identification No.) incorporation or organization) 1900 Polaris Parkway Columbus, OH 43240 and Im Langacher, P.O. Box MT-100 CH 8606 Greifensee, Switzerland 1-614-438-4511 and +41-44-944-22-11 ________________________________________________________________________________ (Registrant's telephone number, including area code) not applicable ______________________ ...

Local currency sales + 2% Adjusted Operating Profit Adjusted EPS Sales by Geography Note: Local currency (LC) sales excludes foreign exchange impact. Sales by Product Area 6 Q2 Local Currency Sales Growth Lab (54% of total sales) Industrial (40%) Food Retail (6%) Total (100%) 13% 9% 3% 10% -3% 6% 17% 2% 2022 2023 Note: Local currency (LC) sales excludes foreign exchange impact. Sales by Product Area 7 YTD Local Currency Sales Growth Lab (55% of total sales) Industrial (39%) Food Retail (6%) Total (100%) 15% ...

Mettler-Toledo International Inc. (NYSE:MTD) Q2 2023 Earnings Conference Call July 27, 2023 4:30 PM ET Company Participants Adam Uhlman - Head-Investor Relations Patrick Kaltenbach - Chief Executive Officer Shawn Vadala - Chief Financial Officer Conference Call Participants Daniel Arias - Stifel Jack Meehan - Nephron Research Derik de Bruin - Bank of America Patrick Donnelly - Citigroup Vijay Kumar - Evercore Matthew Sykes - Goldman Sachs Catherine Schulte - Baird Joshua Waldman - Cleveland Research Rachel ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S Employer Identification No.) 1900 Polaris Parkway Columbus, OH 43240 and Im Langacher, P.O. Box MT-100 CH 8606 Greifensee, Switzerland 1-614-438-4511 and +41-44-944-22-11 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2023, ...

Safe Harbor Statement Summary Comments – Q1 2023 + 7% + 10% Q1 Highlights Sales by Geography Q1 Local Currency Sales Growth Note: Local currency (LC) sales excludes foreign exchange impact. Sales by Product Area 5 Q1 Local Currency Sales Growth Lab (56% of total sales) Industrial (38%) Food Retail (6%) Total (100%) 18% 12% -14% 14% 5% 7% 36% 7% 2022 2023 Note: Local currency (LC) sales excludes foreign exchange impact. Earnings Webcast May 5, 2023 Statements in this presentation which are not historical fac ...

Mettler-Toledo International Inc. (NYSE:MTD) Q4 2022 Earnings Conference Call February 10, 2023 8:30 AM ET Company Participants Patrick Kaltenbach - President, Chief Executive Officer Shawn Vadala - Chief Financial Officer Adam Uhlman - Head of Investor Relations Conference Call Participants Josh Waldman - Cleveland Research Dan Arias - Stifel Jack Meehan - Nephron Research Vijay Kumar - Evercore ISI Tim Daley - Wells Fargo Matt Sykes - Goldman Sachs Brandon Couillard - Jefferies Catherine Schulte - Baird ...