For the quarter ended March 2024, Mettler-Toledo (MTD) reported revenue of $925.95 million, down 0.3% over the same period last year. EPS came in at $8.89, compared to $8.69 in the year-ago quarter.The reported revenue represents a surprise of +5.14% over the Zacks Consensus Estimate of $880.7 million. With the consensus EPS estimate being $7.61, the EPS surprise was +16.82%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

Financial Data and Key Metrics Changes - The company reported Q1 sales of $926 million, largely unchanged from the prior year, benefiting approximately 6% from recovering delayed shipments from Q4 2023 [43][44] - Adjusted EPS for the quarter was $8.89, a 2% increase over the prior year, while reported EPS was $8.24 compared to $8.47 in the prior year [18][44] - Gross margin improved to 59.2%, an increase of 30 basis points due to improved productivity and positive pricing [44] Business Line Data and Key Metrics Changes - Laboratory sales increased by 2%, while industrial sales were flat; food retail sales declined by 9% [7] - Service sales grew by 6% in the quarter, indicating strong demand for service offerings [7][75] - Excluding shipping delay benefits, laboratory product sales declined approximately 6%, industrial sales declined 3%, and food retail sales declined 15% [7][10] Market Data and Key Metrics Changes - Local currency sales grew 6% in Europe and 3% in the Americas, while sales in Asia/Rest of the World declined 8%, with a 19% decline in China [17] - The company expects sales in China to decline over 20% in Q2 before returning to growth in the second half [8][17] Company Strategy and Development Direction - The company has invested over $0.5 billion in R&D over the past three years, focusing on technology advancements, application development, and design enhancements [12] - The company aims to capture growth opportunities in fast-growing segments such as sustainable materials, semiconductors, and alternative energy [48][101] - New product launches, including advanced laboratory balances and automated solutions, are expected to drive market share gains [23][24][54] Management's Comments on Operating Environment and Future Outlook - Management noted that underlying market demand remains soft, particularly in China, with considerable uncertainty in the global economic environment [5][8] - The company remains cautiously optimistic about returning to sales growth in the second half of the year due to easier comparisons and strong customer engagement [41][62] - Management highlighted the importance of innovation and product differentiation as key competitive advantages [22][49] Other Important Information - The company expects adjusted free cash flow of approximately $850 million for 2024, representing a conversion of about 100% of adjusted net income [9] - The effective tax rate is expected to remain at 19% for 2024 [9] Q&A Session Summary Question: What contributed to the better-than-expected Q1 results? - Management indicated that the better results were due to a combination of recovering shipping delays and stronger-than-anticipated customer engagement [35][36] Question: What are the expectations for the second quarter and full year by segment? - Guidance for Q2 includes low-single-digit declines for Lab, down high-single digits for core industrial, and down about 10% for food retail [61] Question: What indicators are being monitored for market recovery? - Management is looking for improvements in customer engagement, order cycles, and potential stimulus impacts in China as indicators for market recovery [90][92]

Safe Harbor Statement 2 3 Adjusted EPS $8.89 Up 2% First Quarter 2024 Highlights We expect soft market conditions in the second quarter of 2024, particularly in China. We remain focused on the diligent execution of our growth strategies, while continuing to drive innovation and further strengthen our Company for the future. Sales by Geography benefit from recovering delayed Q4 shipments, LC sales declined about (6%) in Q1 2024 with the Americas (1%), Europe (5%), and Asia/ROW (12%). 6 Q1 local currency sale ...

Mettler-Toledo International, Inc. (MTD) reported first-quarter 2024 adjusted earnings of $8.89 per share, which beat the Zacks Consensus Estimate by 16.8%. The bottom line increased 2% on a year-over-year basis.Net sales of $925.95 million surpassed the Zacks Consensus Estimate of $880.7 million. However, the figure was down 0.3% on a reported basis and flat on a currency-neutral basis from the year-ago quarter.Softness in the Food Retail segment and weakening conditions in the Asia/Rest of the World regio ...

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.) 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) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

Mettler-Toledo (MTD) came out with quarterly earnings of $8.89 per share, beating the Zacks Consensus Estimate of $7.61 per share. This compares to earnings of $8.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.82%. A quarter ago, it was expected that this maker of precision instruments would post earnings of $10.32 per share when it actually produced earnings of $9.40, delivering a surprise of -8.91%.Over the last four ...

FOR IMMEDIATE RELEASE Exhibit 99.1 METTLER-TOLEDO INTERNATIONAL INC. REPORTS FIRST QUARTER 2024 RESULTS COLUMBUS, Ohio, USA – May 9, 2024 – Mettler-Toledo International Inc. (NYSE: MTD) today announced first quarter results for 2024. Provided below are the highlights: First Quarter Results Patrick Kaltenbach, President and Chief Executive Officer, stated, "Our first quarter results were much better than expected, although we continued to face reduced market demand, especially in China, versus the prior year ...

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]