Mettler-Toledo International (NYSE: MTD) reported second-quarter sales of $1 billion, reflecting a 7% increase in U.S. dollars and 6% in local currency compared to the previous year. The sales growth was attributed to better-than-expected organic performance, particularly in emerging markets like China, where organic local-currency sales rose by 9%. The company also recorded a one-time gross benefit of $52 million from IEEPA tariff refunds.
Adjusted earnings per share (EPS) improved by 14% year-over-year to $11.46, while reported EPS increased to $11.55, boosted by the tariff-refund benefits. Mettler-Toledo raised its full-year local-currency sales-growth forecast to approximately 4% to 5% and now anticipates adjusted EPS for the full year to be between $47.15 and $47.50, a growth of 10% to 11%.
The company’s gross margin improved to 59.3%, backed by favorable price realizations and productivity initiatives. Year-to-date, adjusted free cash flow reached $367 million, with full-year expectations set at about $900 million. Mettler-Toledo emphasized the potential for growth in emerging markets and the biopharma sector, despite existing geopolitical uncertainties.
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