Nearly two years ago, back in July of 2023, one company that I ended up rating a 'hold' was Mettler-Toledo International (NYSE: MTD ). This is an enterprise that focuses on producing and selling precision instruments and thatCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow ana ...

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Core Viewpoint - Mettler-Toledo International (MTD) experienced a 7.19% decline in share price following the release of its third-quarter 2024 results, despite reporting adjusted earnings and net sales that exceeded consensus estimates [1][2]. Financial Performance - MTD reported adjusted earnings of $10.21 per share, beating the Zacks Consensus Estimate by 2.1%, and reflecting a year-over-year increase of 4.2% [1]. - Net sales reached $954.5 million, surpassing the Zacks Consensus Estimate of $942 million, with a reported increase of 1.3% and a local currency increase of 1% compared to the previous year [1][3]. Segment Performance - Revenue breakdown for the third quarter included: Laboratory Instruments at $534.8 million (56% of net sales), Industrial Instruments at $365.5 million (38.3%), and Food Retail at $54.2 million (5.7%) [3]. - The Laboratory segment grew by 5% year-over-year, while the Industrial and Food Retail segments remained flat, with the Food Retail segment declining by 20% on a local currency basis [3]. Geographic Performance - Sales distribution was as follows: Americas at $393.6 million (41.2% of net sales), Europe at $260 million (27.2%), and Asia/Rest of World at $300.9 million (31.5%) [4]. - Year-over-year sales growth in Europe and Asia/Rest of World was 1% and 4% respectively, while sales in the Americas decreased by 1% [4]. Operating Results - MTD's gross margin was reported at 60%, an increase of 60 basis points year-over-year [5]. - Research & Development (R&D) expenses were $47.1 million, up 2.1% from the previous year, while Selling, General & Administrative (SG&A) expenses rose by 5.2% to $228.8 million [5]. - The adjusted operating margin contracted by 30 basis points to 31.1% compared to the prior year [6]. Balance Sheet & Cash Flow - As of September 30, 2024, Mettler-Toledo had cash and cash equivalents of $71.6 million, an increase from $70.8 million as of June 30, 2024 [7]. - Long-term debt rose to $1.89 billion from $1.75 billion, while cash generated from operating activities was $254.7 million, slightly down from $257.5 million in the previous quarter [7]. Guidance - For Q4 2024, Mettler-Toledo expects sales to increase by 8% in local currency compared to the previous year, with a consensus estimate of $1.01 billion [9]. - Adjusted earnings are projected to be between $11.63 and $11.78 per share, indicating a growth of 24-25% year-over-year [9]. - For the full year 2024, sales in local currency are anticipated to rise by 2%, with a consensus estimate of $3.83 billion, reflecting a year-over-year increase of 0.98% [10][11].

Financial Data and Key Metrics Changes - Sales for Q3 2024 were $954.5 million, representing a 1% increase in both local currency and U.S. dollars [9] - Gross margin increased by 60 basis points to 60%, driven by positive price realization and benefits from the SternDrive program [12] - Adjusted EPS for the quarter was $10.21, a 4% increase over the prior year, while reported EPS was $9.96 compared to $9.21 in the prior year [14] Business Line Data and Key Metrics Changes - Laboratory sales increased by 5% in Q3, while Industrial sales were flat, with core Industrial down 1% and product inspection up 1% [11] - Food Retail sales declined by 20% in Q3 compared to significant project activity last year [11] - Year-to-date, Laboratory sales increased by 2%, while Industrial decreased by 2%, with Food Retail down 14% [12] Market Data and Key Metrics Changes - Local currency sales grew 1% in Europe, declined 1% in the Americas, and grew 4% in Asia/Rest of the World for Q3 [9] - Year-to-date local currency sales decreased by 15% in China [10] - Sales in China returned to growth in Q3, but underlying demand remained soft due to weak economic growth [31] Company Strategy and Development Direction - The company is focused on leveraging business diversity and innovation to capture growth opportunities and gain market share [8] - Investments in automation, digitalization, and service expansion are key components of the company's growth strategy [17][34] - The company aims to grow its Service business, which represents approximately 25% of sales and has grown 7% year-to-date [35] Management's Comments on Operating Environment and Future Outlook - Management noted that market conditions remain soft, particularly in China, but expect gradual improvement throughout 2025 [17] - The company anticipates local currency sales growth of approximately 8% for Q4 2024, benefiting from prior-year shipping delays [19] - For 2025, local currency sales are expected to increase approximately 3%, with adjusted EPS forecasted to be in the range of $41.85 to $42.50 [20][21] Other Important Information - Adjusted free cash flow for the first nine months was $671 million, a 7% increase on a per-share basis [16] - The company plans to make targeted investments in innovation and service to strengthen competitive advantages [33] Q&A Session Summary Question: What are the assumptions for Labs versus Industrials in fiscal '25? - Management expects Services to continue growing in the mid- to high single digits, while Labs are projected to grow low to mid-single digits on a reported basis [44][45] Question: What is the outlook for operating margin expansion for fiscal '25? - Operating margin is expected to be flattish to slightly up, with Service margins above corporate average [47] Question: How is the company preparing for potential changes in the tariff environment? - The company has expanded its production footprint globally, including in Mexico, to provide more manufacturing flexibility [70][71] Question: What are the growth expectations for the Process Analytics business? - The Process Analytics business has returned to solid growth, with destocking behind the company [73] Question: What are the assumptions for Q4 growth by segment and geography? - For Q4, Lab is expected to be up low double digits, while core Industrial is expected to be up low single digits [90]

Company Performance - Mettler-Toledo reported quarterly earnings of $10.21 per share, exceeding the Zacks Consensus Estimate of $10 per share, and up from $9.80 per share a year ago, representing an earnings surprise of 2.10% [1] - The company posted revenues of $954.54 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.34%, compared to $942.46 million in the same quarter last year [2] - Over the last four quarters, Mettler-Toledo has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - Mettler-Toledo shares have increased approximately 15.3% since the beginning of the year, while the S&P 500 has gained 24.3% [3] - The current consensus EPS estimate for the upcoming quarter is $11.81 on revenues of $1.01 billion, and for the current fiscal year, it is $40.34 on revenues of $3.83 billion [7] Industry Outlook - The Instruments - Scientific industry, to which Mettler-Toledo belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Mettler-Toledo's stock performance [5][6]

FOR IMMEDIATE RELEASE Exhibit 99.1 METTLER-TOLEDO INTERNATIONAL INC. REPORTS THIRD QUARTER 2024 RESULTS COLUMBUS, Ohio, USA – November 7, 2024 – Mettler-Toledo International Inc. (NYSE: MTD) today announced third quarter results for 2024. Provided below are the highlights: • Reported and local currency sales increased 1% compared with the prior year. • Net earnings per diluted share as reported (EPS) were $9.96, compared with $9.21 in the prior-year period. Adjusted EPS was $10.21, an increase of 4% over th ...

Company Overview - Mettler-Toledo (MTD) is expected to report quarterly earnings of $10 per share, reflecting a year-over-year increase of +2% [3] - Revenues are anticipated to be $941.93 million, which is a slight decrease of 0.1% from the previous year [3] Earnings Expectations - Wall Street anticipates a year-over-year increase in earnings despite lower revenues, indicating a focus on earnings performance over revenue growth [1] - The upcoming earnings report is scheduled for November 7, and stock movement may depend on whether actual results exceed or fall short of expectations [2] Estimate Revisions and Predictions - The consensus EPS estimate has remained unchanged over the last 30 days, suggesting stability in analyst expectations [4] - Mettler-Toledo has an Earnings ESP of -0.60%, indicating a bearish outlook from analysts regarding the company's earnings prospects [10] - The stock currently holds a Zacks Rank of 3, complicating predictions of an earnings beat [11] Historical Performance - In the last reported quarter, Mettler-Toledo exceeded the expected earnings of $9 per share by delivering $9.65, resulting in a surprise of +7.22% [12] - Over the past four quarters, the company has beaten consensus EPS estimates three times [13] Industry Context - Another player in the scientific instruments industry, Bruker (BRKR), is expected to report earnings of $0.61 per share, reflecting a year-over-year decline of -17.6% [17] - Bruker's revenues are projected to be $865.34 million, which is an increase of 16.5% from the previous year [17] - Bruker has an Earnings ESP of -1.33% and a Zacks Rank of 4, indicating challenges in predicting an earnings beat [18]

Core Insights - The U.S. snow blower market was valued at USD 591.82 million in 2023 and is projected to reach USD 969.47 million by 2029, with a compound annual growth rate (CAGR) of 8.57% [1][17]. Market Overview - The U.S. snow blower market is highly concentrated, with major players like Ariens, Husqvarna, STIGA, and Toro holding significant market shares [2]. - The competition is expected to intensify as companies focus on developing advanced and cost-effective technologies [2]. Consumer Trends - There is a growing demand for energy-efficient and sustainable snow blowers due to increasing environmental concerns and consumer preferences for lower carbon energy sources [3][6]. - Consumers are shifting towards electric and battery-powered models to reduce emissions and noise pollution associated with traditional gas-powered snow blowers [6][7]. Product Segmentation - The market is segmented by stage, with two-stage snow blowers dominating, accounting for over 57% of revenue in 2023 [10]. - In terms of clearing width, models with a width greater than 25 inches hold the largest market share, while walk-behind snow blowers dominate the product segment with over 65% market share [11][12]. - The fuel segmentation shows gas-powered snow blowers still leading, but there is a rising demand for battery-operated models due to advancements in lithium-ion technology [12]. End-User Insights - The residential segment holds the largest market share, driven by increased demand from homeowners in suburban and rural areas [14]. Distribution Channels - Offline distribution channels account for the largest share of the market, as consumers prefer to see and test products before purchasing [15]. Competitive Landscape - Key players in the market include Husqvarna, Ariens, MTD Products, and Toro, with other notable vendors like Briggs & Stratton and Honda also contributing to the competitive landscape [16].

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Core Insights - Mettler-Toledo reported revenue of $946.75 million for the quarter ended June 2024, a decrease of 3.6% year-over-year, with EPS at $9.65 compared to $10.19 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate by 2.48%, while the EPS surpassed the consensus estimate by 7.22% [1] Revenue Breakdown - Net sales from Products were $712.26 million, slightly below the estimated $714.03 million, reflecting a year-over-year decline of 6.2% [3] - Net sales from Service amounted to $234.49 million, exceeding the estimated $210.25 million, marking a year-over-year increase of 5.1% [4] - Net sales from Retail were $49.26 million, significantly lower than the estimated $55.97 million, showing a year-over-year decrease of 12.7% [5] - Net sales from Industrial reached $374.26 million, surpassing the estimated $357.06 million, with a year-over-year decline of 6.2% [6] - Net sales from Laboratory were $523.23 million, slightly above the average estimate of $511.20 million, representing a year-over-year change of -0.7% [7] Stock Performance - Mettler-Toledo's shares have returned +11.9% over the past month, contrasting with a -0.4% change in the Zacks S&P 500 composite [7] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [7]