MTD - Mettler-Toledo Non-GAAP EPS of $10.19 beats by $0.21 revenue of $982.12M misses by $17.88M

2023-07-27 16:48:03 ET

• Mettler-Toledo press release ( NYSE: MTD ): Q2 Non-GAAP EPS of $10.19 beats by $0.21 .
• Revenue of $982.12M (+0.4% Y/Y) misses by $17.88M .
• Outlook: Based on today's assessment of market conditions, management anticipates local currency sales for the third quarter of 2023 will decline approximately 3% to 4%, and Adjusted EPS is forecast to be $9.55 to $9.85, a decline of 3% to 6%. Included in the third quarter guidance is an estimated 3% headwind to Adjusted EPS growth due to adverse currency.
• For the full year, management anticipates local currency sales growth in 2023 will be approximately 0% to 1%, and Adjusted EPS is forecast to be in the range of $40.30 to $41.20, representing growth of approximately 2% to 4%. This compares with previous local currency sales growth guidance of approximately 5% and Adjusted EPS guidance of $43.65 to $43.95. Included in the 2023 guidance is an estimated 3% to 4% headwind to Adjusted EPS growth due to adverse currency.

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