Mettler-Toledo International Inc. Reports Third Quarter 2024 Results
Mettler-Toledo (MTD) reported Q3 2024 results with a 1% increase in both reported and local currency sales. Net earnings per diluted share (EPS) reached $9.96, up from $9.21 in the prior year, while adjusted EPS grew 4% to $10.21. Total reported sales rose to $954.5 million, with regional variations showing increases in Europe (2%) and Asia/Rest of World (4%), but a decline in the Americas (-1%). The Laboratory business and Service segment showed strong growth, though China faced challenging market conditions. For Q4 2024, the company expects local currency sales to increase approximately 8%, with adjusted EPS forecast between $11.63 to $11.78.
Mettler-Toledo (MTD) ha riportato i risultati del terzo trimestre 2024 con un aumento dell'1% sia nelle vendite riportate che in quelle in valuta locale. Gli utili netti per azione diluita (EPS) hanno raggiunto $9,96, in aumento rispetto a $9,21 dello scorso anno, mentre l'EPS rettificato è cresciuto del 4% a $10,21. Le vendite totali riportate sono aumentate a $954,5 milioni, con variazioni regionali che mostrano un incremento in Europa (2%) e in Asia/Resto del Mondo (4%), ma un calo nelle Americhe (-1%). Il segmento Laboratorio e il segmento Servizi hanno mostrato una forte crescita, anche se la Cina ha affrontato condizioni di mercato difficili. Per il quarto trimestre 2024, l'azienda prevede un aumento delle vendite in valuta locale di circa l'8%, con un EPS rettificato previsto tra $11,63 e $11,78.
Mettler-Toledo (MTD) informó los resultados del tercer trimestre de 2024, con un aumento del 1% en las ventas tanto en moneda reportada como en moneda local. Las ganancias netas por acción diluida (EPS) alcanzaron $9.96, un incremento respecto a $9.21 del año anterior, mientras que el EPS ajustado creció un 4% hasta $10.21. Las ventas totales reportadas aumentaron a $954.5 millones, con variaciones regionales que mostraron incrementos en Europa (2%) y Asia/Resto del Mundo (4%), pero una disminución en las Américas (-1%). El negocio de Laboratorio y el segmento de Servicios mostraron un fuerte crecimiento, aunque China enfrentó condiciones de mercado desafiantes. Para el cuarto trimestre de 2024, la compañía espera que las ventas en moneda local aumenten aproximadamente un 8%, con un EPS ajustado pronosticado entre $11.63 y $11.78.
Mettler-Toledo (MTD)는 2024년 3분기 결과를 발표했으며, 보고된 통화 및 현지 통화 매출에서 모두 1% 증가했습니다. 희석 주당 순이익 (EPS)는 $9.96에 도달하여, 이전 연도의 $9.21에서 증가하였고, 조정 EPS는 4% 증가하여 $10.21이 되었습니다. 총 보고된 매출은 $954.5 백만으로 증가했으며, 지역별로는 유럽 (2%)과 아시아/그 외 지역 (4%)에서 증가가 있었지만, 미주에서는 감소 (-1%)가 있었습니다. 실험실 사업과 서비스 부문은 강력한 성장을 보였지만, 중국은 어려운 시장 환경에 직면했습니다. 2024년 4분기에는 현지 통화 매출이 약 8% 증가할 것으로 예상되며, 조정 EPS는 $11.63에서 $11.78 사이로 예상하고 있습니다.
Mettler-Toledo (MTD) a annoncé les résultats du troisième trimestre 2024, avec une augmentation de 1% des ventes tant en monnaie rapportée qu'en monnaie locale. Le bénéfice net par action diluée (EPS) a atteint 9,96 $, contre 9,21 $ l'année précédente, tandis que l'EPS ajusté a augmenté de 4 % pour atteindre 10,21 $. Les ventes totales rapportées se sont élevées à 954,5 millions de dollars, avec des variations régionales montrant des augmentations en Europe (2 %) et en Asie/Reste du Monde (4 %), mais une baisse dans les Amériques (-1 %). Le secteur des laboratoires et le segment des services ont enregistré une forte croissance, bien que la Chine ait été confrontée à des conditions de marché difficiles. Pour le quatrième trimestre 2024, l'entreprise s'attend à une augmentation des ventes en monnaie locale d'environ 8 %, avec un EPS ajusté prévu entre 11,63 $ et 11,78 $.
Mettler-Toledo (MTD) hat die Ergebnisse für das dritte Quartal 2024 veröffentlicht und verzeichnete einen Umsatzanstieg von 1% sowohl in der berichteten als auch in der lokalen Währung. Der Nettogewinn pro verwässerter Aktie (EPS) erreichte $9,96, ein Anstieg gegenüber $9,21 im Vorjahr, während das angepasste EPS um 4% auf $10,21 wuchs. Der Gesamtumsatz betrug $954,5 Millionen, wobei regionale Unterschiede einen Anstieg in Europa (2%) und Asien/Rest der Welt (4%) zeigten, aber einen Rückgang in den Amerikas (-1%). Das Laborgeschäft und die Dienstleistungssegmente zeigten ein starkes Wachstum, obwohl China mit herausfordernden Marktbedingungen konfrontiert war. Für das vierte Quartal 2024 erwartet das Unternehmen einen Anstieg der lokalen Währungsumsätze um etwa 8%, mit einem prognostizierten angepassten EPS zwischen $11,63 und $11,78.
- Q3 reported and local currency sales increased 1% year-over-year
- Adjusted EPS grew 4% to $10.21
- Service segment showed strong growth
- Q4 2024 guidance projects 8% local currency sales increase
- Full-year 2024 adjusted EPS guidance raised to $40.35-$40.50
- Sales declined 1% in Americas region
- Nine-month total reported sales declined 1% to $2.827 billion
- Challenging market conditions in China, particularly in Industrial sector
- Nine-month Adjusted Operating Profit decreased to $848.0M from $870.1M
- 2% headwind to Adjusted EPS growth expected due to adverse currency
Insights
MTD's Q3 2024 results show resilience amid challenging market conditions.
The company's regional performance varies significantly - Europe and Asia/Rest of World showed growth of
The conservative 2025 outlook of
-
Reported and local currency sales increased
1% compared with the prior year. -
Net earnings per diluted share as reported (EPS) were
, compared with$9.96 in the prior-year period. Adjusted EPS was$9.21 , an increase of$10.21 4% over the prior-year amount of . Adjusted EPS is a non-GAAP measure, and a reconciliation to EPS is included on the last page of the attached schedules.$9.80
Third Quarter Results
Patrick Kaltenbach, President and Chief Executive Officer, stated, “We experienced good growth during the third quarter in our Laboratory business and had particularly strong growth in Service. While
GAAP Results
EPS in the quarter was
Compared with the prior year, total reported sales rose
Non-GAAP Results
Adjusted EPS was
Compared with the prior year, total sales in local currency increased
Adjusted EPS and Adjusted Operating Profit are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.
Nine Month Results
GAAP Results
EPS was
Compared with the prior year, total reported sales declined
Non-GAAP Results
Adjusted EPS was
Compared with the prior year, total sales in local currency were flat as currency reduced sales growth by
Adjusted EPS and Adjusted Operating Profit are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.
Outlook
Management cautions that market conditions are uncertain and could change quickly. Based on today's assessment, management anticipates local currency sales for the fourth quarter of 2024 will increase approximately
For the full year, management anticipates local currency sales will increase approximately
The Company stated that based on its assessment of market conditions today, management anticipates local currency sales growth of approximately
The Company does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort the timing and amount of future restructuring and other non-recurring items.
Conclusion
Kaltenbach concluded, “We continue to execute very well and will benefit from the prior-year shipping delays in the fourth quarter; however, global market conditions remain soft. We have introduced many exciting innovations, as well as next generations of our Spinnaker sales and marketing and SternDrive productivity programs, over the past year. We also continue to leverage our business diversity and ability to provide value throughout our customers’ value chain to identify and capture growth opportunities and believe we are very well positioned to gain market share and deliver good earnings growth in the future.”
Other Matters
The Company will host a conference call to discuss its quarterly results tomorrow morning (Friday, November 8) at 8:30 a.m. Eastern Time. To listen to a live webcast or replay of the call, visit the investor relations page on the Company’s website at investor.mt.com. The presentation referenced on the conference call will be located on the website prior to the call.
METTLER TOLEDO (NYSE: MTD) is a leading global supplier of precision instruments and services. We have strong leadership positions in all of our businesses and believe we hold global number-one market positions in most of them. We are recognized as an innovation leader and our solutions are critical in key R&D, quality control, and manufacturing processes for customers in a wide range of industries including life sciences, food, and chemicals. Our sales and service network is one of the most extensive in the industry. Our products are sold in more than 140 countries and we have a direct presence in approximately 40 countries. With proven growth strategies and a focus on execution, we have achieved a long-term track record of strong financial performance. For more information, please visit www.mt.com.
Forward-Looking Statements Disclaimer
You should not rely on forward-looking statements to predict our actual results. Our actual results or performance may be materially different than reflected in forward-looking statements because of various risks and uncertainties, including statements about expected revenue growth, inflation, ongoing developments related to
We make forward-looking statements about future events or our future financial performance, including earnings and sales growth, earnings per share, strategic plans and contingency plans, growth opportunities or economic downturns, our ability to respond to changes in market conditions, planned research and development efforts and product introductions, adequacy of facilities, access to and the costs of raw materials, shipping and supplier costs, gross margins, customer demand, our competitive position, pricing, capital expenditures, cash flow, tax-related matters, the impact of foreign currencies, compliance with laws, effects of acquisitions, and the impact of inflation, ongoing developments related to
Our forward-looking statements may not be accurate or complete, and we do not intend to update or revise them in light of actual results. New risks also periodically arise. Please consider the risks and factors that could cause our results to differ materially from what is described in our forward-looking statements, including inflation, ongoing developments related to
METTLER-TOLEDO INTERNATIONAL INC. |
||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||
(amounts in thousands except share data) |
||||||||||||||
(unaudited) |
||||||||||||||
|
||||||||||||||
|
Three months ended |
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|
|
|
Three months ended |
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|
||||||
|
September 30, 2024 |
|
|
% of sales |
|
September 30, 2023 |
|
% of sales |
||||||
Net sales | $ |
954,535 |
|
(a) | 100.0 |
|
$ |
942,462 |
|
100.0 |
|
|||
Cost of sales |
|
382,068 |
|
40.0 |
|
|
382,923 |
|
40.6 |
|
||||
Gross profit |
|
572,467 |
|
60.0 |
|
|
559,539 |
|
59.4 |
|
||||
Research and development |
|
47,117 |
|
4.9 |
|
|
46,127 |
|
4.9 |
|
||||
Selling, general and administrative |
|
228,777 |
|
24.0 |
|
|
217,447 |
|
23.1 |
|
||||
Amortization |
|
18,243 |
|
1.9 |
|
|
18,314 |
|
1.9 |
|
||||
Interest expense |
|
18,599 |
|
1.9 |
|
|
20,278 |
|
2.2 |
|
||||
Restructuring charges |
|
2,631 |
|
0.3 |
|
|
7,385 |
|
0.8 |
|
||||
Other charges (income), net |
|
(1,852 |
) |
(0.2 |
) |
|
(1,171 |
) |
(0.1 |
) |
||||
Earnings before taxes |
|
258,952 |
|
27.2 |
|
|
251,159 |
|
26.6 |
|
||||
Provision for taxes |
|
47,436 |
|
5.0 |
|
|
49,528 |
|
5.2 |
|
||||
Net earnings | $ |
211,516 |
|
22.2 |
|
$ |
201,631 |
|
21.4 |
|
||||
Basic earnings per common share: | ||||||||||||||
Net earnings | $ |
10.01 |
|
$ |
9.26 |
|
||||||||
Weighted average number of common shares |
|
21,139,674 |
|
|
21,776,944 |
|
||||||||
Diluted earnings per common share: | ||||||||||||||
Net earnings | $ |
9.96 |
|
$ |
9.21 |
|
||||||||
Weighted average number of common and common equivalent shares |
|
21,242,343 |
|
|
21,886,482 |
|
||||||||
Note: | ||||||||||||||
(a) Local currency sales increased |
||||||||||||||
RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT |
||||||||||||||
|
|
|
|
|
|
|
|
|
||||||
|
Three months ended |
|
|
|
|
Three months ended |
|
|
||||||
|
September 30, 2024 |
|
|
% of sales |
|
September 30, 2023 |
|
% of sales |
||||||
Earnings before taxes | $ |
258,952 |
|
$ |
251,159 |
|
||||||||
Amortization |
|
18,243 |
|
|
18,314 |
|
||||||||
Interest expense |
|
18,599 |
|
|
20,278 |
|
||||||||
Restructuring charges |
|
2,631 |
|
|
7,385 |
|
||||||||
Other charges (income), net |
|
(1,852 |
) |
|
(1,171 |
) |
||||||||
Adjusted operating profit | $ |
296,573 |
|
(b) | 31.1 |
|
$ |
295,965 |
|
31.4 |
|
|||
Note: | ||||||||||||||
(b) Adjusted operating profit was flat as compared to the same period in 2023. |
||||||||||||||
METTLER-TOLEDO INTERNATIONAL INC. |
||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||
(amounts in thousands except share data) |
||||||||||||||
(unaudited) |
||||||||||||||
|
||||||||||||||
|
Nine months ended |
|
|
|
|
Nine months ended |
|
|
||||||
|
September 30, 2024 |
|
|
% of sales |
|
September 30, 2023 |
|
% of sales |
||||||
Net sales | $ |
2,827,234 |
|
(a) | 100.0 |
|
$ |
2,853,317 |
|
100.0 |
|
|||
Cost of sales |
|
1,140,966 |
|
40.4 |
|
|
1,163,669 |
|
40.8 |
|
||||
Gross profit |
|
1,686,268 |
|
59.6 |
|
|
1,689,648 |
|
59.2 |
|
||||
Research and development |
|
139,303 |
|
4.9 |
|
|
138,849 |
|
4.9 |
|
||||
Selling, general and administrative |
|
698,963 |
|
24.7 |
|
|
680,679 |
|
23.9 |
|
||||
Amortization |
|
54,649 |
|
1.9 |
|
|
54,135 |
|
1.9 |
|
||||
Interest expense |
|
56,781 |
|
2.0 |
|
|
57,711 |
|
2.0 |
|
||||
Restructuring charges |
|
17,624 |
|
0.6 |
|
|
19,680 |
|
0.7 |
|
||||
Other charges (income), net |
|
(3,728 |
) |
(0.1 |
) |
|
(2,578 |
) |
(0.2 |
) |
||||
Earnings before taxes |
|
722,676 |
|
25.6 |
|
|
741,172 |
|
26.0 |
|
||||
Provision for taxes |
|
111,837 |
|
4.0 |
|
|
137,188 |
|
4.8 |
|
||||
Net earnings | $ |
610,839 |
|
21.6 |
|
$ |
603,984 |
|
21.2 |
|
||||
Basic earnings per common share: | ||||||||||||||
Net earnings | $ |
28.69 |
|
$ |
27.54 |
|
||||||||
Weighted average number of common shares |
|
21,288,202 |
|
|
21,933,889 |
|
||||||||
Diluted earnings per common share: | ||||||||||||||
Net earnings | $ |
28.55 |
|
$ |
27.37 |
|
||||||||
Weighted average number of common and common equivalent shares |
|
21,396,456 |
|
|
22,067,398 |
|
||||||||
Note: | ||||||||||||||
(a) Local currency sales were flat as compared to the same period in 2023. |
||||||||||||||
RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT |
||||||||||||||
|
|
|
|
|
|
|
|
|
||||||
|
Nine months ended |
|
|
|
|
Nine months ended |
|
|
||||||
|
September 30, 2024 |
|
|
% of sales |
|
September 30, 2023 |
|
% of sales |
||||||
Earnings before taxes | $ |
722,676 |
|
$ |
741,172 |
|
||||||||
Amortization |
|
54,649 |
|
|
54,135 |
|
||||||||
Interest expense |
|
56,781 |
|
|
57,711 |
|
||||||||
Restructuring charges |
|
17,624 |
|
|
19,680 |
|
||||||||
Other charges (income), net |
|
(3,728 |
) |
|
(2,578 |
) |
||||||||
Adjusted operating profit | $ |
848,002 |
|
(b) | 30.0 |
|
$ |
870,120 |
|
(b) | 30.5 |
|
||
Note: | ||||||||||||||
(b) Adjusted operating profit decreased |
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METTLER-TOLEDO INTERNATIONAL INC. |
|||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||||
(amounts in thousands) |
|||||||
(unaudited) |
|||||||
|
|
|
|
||||
|
|
|
|
||||
|
September 30, 2024 |
|
December 31, 2023 |
||||
Cash and cash equivalents | $ |
71,574 |
|
$ |
69,807 |
|
|
Accounts receivable, net |
|
637,202 |
|
|
663,893 |
|
|
Inventories |
|
375,813 |
|
|
385,865 |
|
|
Other current assets and prepaid expenses |
|
113,643 |
|
|
110,638 |
|
|
Total current assets |
|
1,198,232 |
|
|
1,230,203 |
|
|
Property, plant and equipment, net |
|
790,447 |
|
|
803,374 |
|
|
Goodwill and other intangibles assets, net |
|
934,923 |
|
|
955,537 |
|
|
Other non-current assets |
|
396,226 |
|
|
366,441 |
|
|
Total assets | $ |
3,319,828 |
|
$ |
3,355,555 |
|
|
Short-term borrowings and maturities of long-term debt | $ |
185,824 |
|
$ |
192,219 |
|
|
Trade accounts payable |
|
202,859 |
|
|
210,411 |
|
|
Accrued and other current liabilities |
|
796,285 |
|
|
778,452 |
|
|
Total current liabilities |
|
1,184,968 |
|
|
1,181,082 |
|
|
Long-term debt |
|
1,891,661 |
|
|
1,888,620 |
|
|
Other non-current liabilities |
|
397,552 |
|
|
435,791 |
|
|
Total liabilities |
|
3,474,181 |
|
|
3,505,493 |
|
|
Shareholders’ equity |
|
(154,353 |
) |
|
(149,938 |
) |
|
Total liabilities and shareholders’ equity | $ |
3,319,828 |
|
$ |
3,355,555 |
|
|
METTLER-TOLEDO INTERNATIONAL INC. |
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||||||||||||||
(amounts in thousands) |
|||||||||||||||
(unaudited) |
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|
|
|
|
|
|
|
|
||||||||
|
Three months ended |
|
Nine months ended |
||||||||||||
|
September 30, |
|
September 30, |
||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Cash flow from operating activities: | |||||||||||||||
Net earnings | $ |
211,516 |
|
$ |
201,631 |
|
$ |
610,839 |
|
$ |
603,984 |
|
|||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||||||||||
Depreciation |
|
12,836 |
|
|
12,189 |
|
|
37,709 |
|
|
36,406 |
|
|||
Amortization |
|
18,243 |
|
|
18,314 |
|
|
54,649 |
|
|
54,135 |
|
|||
Deferred tax benefit |
|
(1,224 |
) |
|
(2,689 |
) |
|
(5,061 |
) |
|
(4,455 |
) |
|||
One-time non-cash discrete tax benefit |
|
- |
|
|
- |
|
|
(22,982 |
) |
|
- |
|
|||
Other |
|
4,359 |
|
|
4,228 |
|
|
13,622 |
|
|
12,450 |
|
|||
Increase (decrease) in cash resulting from changes in operating assets and liabilities |
|
8,936 |
|
|
30,623 |
|
|
13,383 |
|
|
(18,151 |
) |
|||
Net cash provided by operating activities |
|
254,666 |
|
|
264,296 |
|
|
702,159 |
|
|
684,369 |
|
|||
Cash flows from investing activities: | |||||||||||||||
Proceeds from sale of property, plant and equipment |
|
65 |
|
|
256 |
|
|
733 |
|
|
668 |
|
|||
Purchase of property, plant and equipment |
|
(21,421 |
) |
|
(20,960 |
) |
|
(62,622 |
) |
|
(72,907 |
) |
|||
Proceeds from government funding (a) |
|
- |
|
|
1,332 |
|
|
- |
|
|
2,596 |
|
|||
Acquisitions |
|
- |
|
|
- |
|
|
(2,473 |
) |
|
(613 |
) |
|||
Other investing activities |
|
(16,287 |
) |
|
(11,523 |
) |
|
(4,048 |
) |
|
(25,937 |
) |
|||
Net cash used in investing activities |
|
(37,643 |
) |
|
(30,895 |
) |
|
(68,410 |
) |
|
(96,193 |
) |
|||
Cash flows from financing activities: | |||||||||||||||
Proceeds from borrowings |
|
539,071 |
|
|
489,052 |
|
|
1,561,649 |
|
|
1,569,973 |
|
|||
Repayments of borrowings |
|
(559,670 |
) |
|
(508,497 |
) |
|
(1,576,862 |
) |
|
(1,467,228 |
) |
|||
Proceeds from exercise of stock options |
|
14,203 |
|
|
147 |
|
|
22,339 |
|
|
19,234 |
|
|||
Repurchases of common stock |
|
(212,499 |
) |
|
(223,999 |
) |
|
(637,497 |
) |
|
(723,998 |
) |
|||
Acquisition contingent consideration payment |
|
- |
|
|
(2,141 |
) |
|
- |
|
|
(7,767 |
) |
|||
Other financing activities |
|
(3 |
) |
|
(112 |
) |
|
(1,913 |
) |
|
(826 |
) |
|||
Net cash used in financing activities |
|
(218,898 |
) |
|
(245,550 |
) |
|
(632,284 |
) |
|
(610,612 |
) |
|||
Effect of exchange rate changes on cash and cash equivalents |
|
2,639 |
|
|
(1,750 |
) |
|
302 |
|
|
(3,855 |
) |
|||
Net increase (decrease) in cash and cash equivalents |
|
764 |
|
|
(13,899 |
) |
|
1,767 |
|
|
(26,291 |
) |
|||
Cash and cash equivalents: | |||||||||||||||
Beginning of period |
|
70,810 |
|
|
83,574 |
|
|
69,807 |
|
|
95,966 |
|
|||
End of period | $ |
71,574 |
|
$ |
69,675 |
|
$ |
71,574 |
|
$ |
69,675 |
|
|||
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW | |||||||||||||||
Net cash provided by operating activities | $ |
254,666 |
|
$ |
264,296 |
|
$ |
702,159 |
|
$ |
684,369 |
|
|||
Payments in respect of restructuring activities |
|
4,086 |
|
|
7,544 |
|
|
19,766 |
|
|
14,942 |
|
|||
Transition tax payment |
|
- |
|
|
- |
|
|
10,723 |
|
|
8,042 |
|
|||
Proceeds from sale of property, plant and equipment |
|
65 |
|
|
255 |
|
|
733 |
|
|
667 |
|
|||
Purchase of property, plant and equipment, net (a) |
|
(21,421 |
) |
|
(20,362 |
) |
|
(62,622 |
) |
|
(65,177 |
) |
|||
Acquisition payments (b) |
|
- |
|
|
- |
|
|
- |
|
|
4,775 |
|
|||
Adjusted free cash flow | $ |
237,396 |
|
$ |
251,733 |
|
$ |
670,759 |
|
$ |
647,618 |
|
|||
Notes: | |||||||||||||||
(a) In September 2021, the Company entered into an agreement with the |
|||||||||||||||
(b) Includes |
|||||||||||||||
METTLER-TOLEDO INTERNATIONAL INC. | |||||||||||||||
OTHER OPERATING STATISTICS | |||||||||||||||
SALES GROWTH BY DESTINATION | |||||||||||||||
(unaudited) | |||||||||||||||
Total | |||||||||||||||
Three Months Ended September 30, 2024 | (1 |
%) |
2 |
% |
4 |
% |
1 |
% |
|||||||
Nine Months Ended September 30, 2024 | 1 |
% |
5 |
% |
(8 |
%) |
(1 |
%) |
|||||||
Local Currency Sales Growth | |||||||||||||||
Three Months Ended September 30, 2024 | (1 |
%) |
1 |
% |
4 |
% |
1 |
% |
|||||||
Nine Months Ended September 30, 2024 | 1 |
% |
4 |
% |
(6 |
%) |
0 |
% |
|||||||
Note: | |||||||||||||||
(a) The Company estimates net sales for the nine months ended September 30, 2024 benefited by |
|||||||||||||||
RECONCILIATION OF DILUTED EPS AS REPORTED TO ADJUSTED DILUTED EPS |
||||||||||||||||||||||||
(unaudited) |
||||||||||||||||||||||||
|
||||||||||||||||||||||||
|
Three months ended |
|
Nine months ended |
|||||||||||||||||||||
|
September 30, |
|
September 30, |
|||||||||||||||||||||
|
2024 |
|
2023 |
|
% Growth |
|
2024 |
|
2023 |
|
% Growth |
|||||||||||||
EPS as reported, diluted | $ |
9.96 |
|
$ |
9.21 |
8 |
% |
$ |
28.55 |
|
$ |
27.37 |
|
4 |
% |
|||||||||
Purchased intangible amortization, net of tax |
|
0.23 |
|
(a) |
|
0.24 |
(a) |
|
0.71 |
|
(a) |
|
0.70 |
|
(a) | |||||||||
Restructuring charges, net of tax |
|
0.10 |
|
(b) |
|
0.27 |
(b) |
|
0.67 |
|
(b) |
|
0.72 |
|
(b) | |||||||||
Income tax expense |
|
(0.08 |
) |
(c) |
|
0.08 |
(c) |
|
(1.19 |
) |
(c) |
|
(0.16 |
) |
(c) | |||||||||
Adjusted EPS, diluted | $ |
10.21 |
|
$ |
9.80 |
4 |
% |
$ |
28.74 |
|
$ |
28.63 |
|
0 |
% |
|||||||||
Notes: | ||||||||||||||||||||||||
(a) Represents the EPS impact of purchased intangibles amortization of |
||||||||||||||||||||||||
(b) Represents the EPS impact of restructuring charges of |
||||||||||||||||||||||||
(c) Represents the EPS impact of the difference between our quarterly and estimated annual tax rate before non-recurring discrete items during the three and nine months ended September 30, 2024 and 2023 due to the timing of excess tax benefits associated with stock option exercises. Also includes a reported EPS reduction of |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241107177327/en/
Adam Uhlman
Head of Investor Relations
METTLER TOLEDO
Direct: 614-438-4794
adam.uhlman@mt.com
Source: Mettler-Toledo International Inc.
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