Published on 7 May 2024 on GuruFocus.com via Yahoo Finance
Mettler-Toledo International Inc. Reports First Quarter 2024 Results
Reported Revenue: $925.9M, flat year-over-year, slightly above estimates of $879.72M.Net Income: $177.5M, down 5.8% from $188.4M in the prior year, exceeded estimates of $163.84M.Diluted EPS: $8.24, a decrease from $8.47 year-over-year, surpassed the estimate of $7.64.Adjusted EPS: $8.89, showing a 2% increase from the previous year's $8.69.Sales by Region: Increased by 8% in Europe and 3% in the Americas, while declining 12% in Asia/Rest of World.Adjusted Operating Profit: $267.3M, marginally higher than the previous year's $266.5M.Future Outlook: Anticipates a decline in local currency sales by approximately 4% for Q2 2024, with Adjusted EPS expected to be between $8.90 and $9.05, reflecting a decrease of 11% to 13%.
Mettler-Toledo International Inc. (NYSE:MTD), a global leader in precision instruments for the life sciences, industrial, and food retail industries, announced its first-quarter results for 2024 on May 9, 2024. The company disclosed its earnings in a recent 8-K filing. Despite facing significant market challenges, including reduced demand in China and adverse currency effects, Mettler-Toledo managed to deliver earnings that aligned with analyst expectations, showcasing the resilience and strategic execution of its business model.
