Mettler-Toledo International, Inc. MTD is scheduled to report first-quarter 2024 results on May 9.
For the first quarter, MTD expects sales to decline 4-6% in local currency from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for the same is pegged at $880.7 million, indicating a fall of 5.2% from the year-ago period’s reported figure.
Adjusted first-quarter earnings are anticipated to be $7.35-$7.75 per share, implying an 11-15% fall from the year-ago quarter’s reported number. The consensus mark for the same is projected at $7.61 per share, suggesting a 12.4% decline from the prior-year quarter’s reading. The estimate has decreased by 0.3% over the past 30 days.
We note that MTD’s bottom line surpassed the Zacks Consensus Estimate in three of the trailing four quarters but missed the same once, the negative surprise being 1.05%, on average.
Mettler-Toledo International, Inc. Price and EPS Surprise
Mettler-Toledo International, Inc. price-eps-surprise | Mettler-Toledo International, Inc. Quote
Key Factors to Consider
Mettler-Toledo’s upcoming results are likely to reflect the adverse impacts of macroeconomic headwinds, growing geo-political tensions and unfavorable foreign exchange rate fluctuations.
Weakening momentum in the life science market, and challenging economic conditions in Europe and the Americas are expected to have negatively impacted the company’s performance.
Sluggish demand in automated chemistry, analytical instruments and process analytics businesses is likely to have affected the Laboratory segment’s performance in the to-be-reported quarter.
The Zacks Consensus Estimate for Laboratory sales is pegged at $499 million, indicating a fall of 4% from the year-ago reported figure.
Weak market demand for core industrial products, particularly in China and America, is expected to have been a major headwind for the company’s Industrial segment.
The Zacks Consensus Estimate for Industrial sales is pegged at $330 million, indicating a fall of 7% from the year-ago reported figure.
Meanwhile, strong project activities are likely to have continued benefiting the company’s Food Retail segment in the to-be-reported quarter. However, market volatility is likely to have been concerning for the segment.
The Zacks Consensus Estimate for Food Retail sales is pegged at $52 million, indicating a fall of 3.7% from the year-ago reported figure.
Nevertheless, the company’s portfolio strength, cost-cutting efforts, robust sales and marketing strategies, and margin and productivity initiatives are expected to have aided its first-quarter performance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Mettler-Toledo this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here, as elaborated below.
Mettler-Toledo has an Earnings ESP of -0.84%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
MTD carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some stocks worth considering from the same space, as our model shows that they have the right combination of elements to beat on earnings this season.
Arista Networks ANET has an Earnings ESP of +3.76% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks is set to report its first-quarter 2024 results on May 7. The Zacks Consensus Estimate for ANET’s earnings is pegged at $1.74 per share, suggesting a rise of 21.7% from the prior-year quarter.
NVIDIA NVDA has an Earnings ESP of +2.50% and a Zacks Rank #2 at present.
NVIDIA is scheduled to release first-quarter fiscal 2025 results on May 22. The Zacks Consensus Estimate for ANET’s earnings is pegged at $5.49 per share, suggesting a significant jump from the prior-year quarter’s reported figure of $1.09.
Docebo DCBO has an Earnings ESP of +8.00% and a Zacks Rank #3 at present.
Docebo is set to report first-quarter 2024 results on May 9. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 17 cents per share, indicating growth of 88.89% from the year-ago quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
