Mettler-Toledo International Inc. (NYSE:MTD) Q2 2024 Earnings Conference Call August 2, 2024 7:30 AM ET Company Participants Adam Uhlman - Head of Investor Relations Patrick Kaltenbach - Chief Executive Officer Shawn Vadala - Chief Financial Officer. Conference Call Participants Dan Arias - Stifel Rachel Vatnsdal - JPMorgan Vijay Kumar - Evercore Jack Meehan - Nephron Matt Sykes - Goldman Sachs Dan Leonard - UBS Michael Ryskin - Bank of America Patrick Donnelly - Citi Catherine Schulte - Baird Tycho Peterso ...

Mettler-Toledo (MTD) came out with quarterly earnings of $9.65 per share, beating the Zacks Consensus Estimate of $9 per share. This compares to earnings of $10.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 7.22%. A quarter ago, it was expected that this maker of precision instruments would post earnings of $7.61 per share when it actually produced earnings of $8.89, delivering a surprise of 16.82%. Over the last four qu ...

Mettler-Toledo International, Inc. (MTD) is scheduled to report its second-quarter 2024 results on Aug 1. For the second quarter, MTD expects sales to decline 4% in local currency from the year-ago quarter's reported figure. The Zacks Consensus Estimate for the same is pegged at $923.89 million, indicating a fall of 5.9% from the year-ago period's reported figure. Adjusted second-quarter earnings are anticipated to be $8.90-$9.05 per share, implying an 11-13% fall from the year-ago quarter's reported number ...

Core Viewpoint - Analysts have maintained their consensus EPS estimate for Mettler-Toledo, indicating a collective reevaluation of initial estimates over the past 30 days [1] Financial Metrics Summary - Analysts forecast 'Net sales- Retail' to reach $55.97 million, reflecting a year-over-year decline of 0.8% [3] - Mettler-Toledo is predicted to report quarterly earnings of $9 per share, an 11.7% decrease compared to the same period last year, with revenues expected to be $923.89 million, down 5.9% year-over-year [4] - 'Net sales- Service (Point in Time+Over Time)' is estimated at $210.25 million, indicating a 5.8% decline from the previous year [6] - 'Net sales- Laboratory' is projected to reach $511.20 million, reflecting a year-over-year decrease of 2.9% [7] - 'Net sales- Products' is expected to be $714.03 million, showing a 5.9% decline year-over-year [9] - 'Net sales- Industrial' is estimated at $357.06 million, indicating a 10.5% decrease from the prior-year quarter [10] Market Performance - Over the past month, Mettler-Toledo shares have returned +6.2%, outperforming the Zacks S&P 500 composite's +0.1% change, with a current Zacks Rank of 3 (Hold) suggesting alignment with overall market performance in the near future [11]

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Have you assessed how the international operations of Mettler-Toledo (MTD) performed in the quarter ended March 2024? For this maker of precision instruments, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects. In the modern, closely-knit global economic landscape, the capacity of a business to access foreign markets is often a key determinant of its financial well-being and growth path. Investors no ...

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 ...