StockSelector.com
  Research, Select, & Monitor Thursday, November 21, 2019 1:39:20 PM ET  
Trade Ideas The Market Industries Stocks Portfolio

 
Ticker Lookup
Mettler-Toledo International Inc.$708.38($9.32)(1.30%)

  Quote | Ranking | Chart | Valuations | Sentiment | Industry | News | Earnings | Analysts | More...

Your Target?

 Mettler-Toledo International Inc. Reports Fourth Quarter 2018 Results
   Thursday, February 07, 2019 4:05:00 PM ET

COLUMBUS, Ohio, Feb. 7, 2019 /PRNewswire/ -- Mettler-Toledo International Inc. (NYSE: MTD) today announced fourth quarter results for 2018.  Provided below are the highlights:

  • Reported sales increased 5% compared with the prior year.  In local currency, sales increased 8% in the quarter as currency reduced sales growth by 3%. 

  • Net earnings per diluted share as reported (EPS) were $7.11, compared with $2.93 in the prior-year period.  Adjusted EPS was $6.85, an increase of 15% over the prior-year amount of $5.97.  Adjusted EPS is a non-GAAP measure, and we have included a reconciliation to EPS on the last page of the attached schedules. 


Fourth Quarter Results

Olivier Filliol, President and Chief Executive Officer, stated, "We achieved excellent sales growth in the quarter with very good results in most of our Laboratory and Industrial product lines.  China had another quarter of strong sales growth.  We benefited from our productivity and margin initiatives, and despite adverse currency and higher tariff costs, recognized a strong increase in operating margins and earnings growth."

GAAP Results
EPS in the quarter was $7.11, compared with the prior-year amount of $2.93.  Included in 2018 EPS is a one-time non-cash acquisition-related gain of $0.75 and included in 2017 EPS is a tax charge of $2.74.  Additional details on one-time items included in EPS are found in the attached schedules.    

Compared with the prior year, total reported sales increased 5% to $817.9 million.  By region, reported sales increased 6% in the Americas, 3% in Europe and 7% in Asia/Rest of World.  Earnings before tax amounted to $230.5 million, compared with $193.9 million in the prior year. 

Non-GAAP Results
Adjusted EPS was $6.85, an increase of 15% over the prior-year amount of $5.97.     

Compared with the prior year, total sales in local currency increased 8% as currency reduced reported sales growth by 3%.  By region, local currency sales increased 7% in the Americas, 6% in Europe and 10% in Asia/Rest of World.  Adjusted Operating Income amounted to $239.7 million, an 11% increase from the prior-year amount of $216.9 million

Adjusted EPS and Adjusted Operating Income are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.

Full Year Results

GAAP Results
EPS in 2018 was $19.88, compared with the prior-year amount of $14.24.  Included in 2018 EPS is a one-time non-cash acquisition-related gain of $0.74 and included in 2017 EPS is a tax charge of $2.73.  Additional details on one-time items included in EPS are found in the attached schedules.    

Total reported sales increased 8% in 2018 to $2.936 billion.  By region, reported sales increased 5% in the Americas, 7% in Europe and 12% in Asia/Rest of World.  Earnings before tax amounted to $651.9 million, compared with $574.2 million in the prior year. 

Non-GAAP Results
Adjusted EPS was $20.32, an increase of 16% over the prior-year amount of $17.57.     

Total sales in local currency increased 6% in 2018 as currency benefited reported sales growth by 2%. By region, local currency sales increased 5% in the Americas, 4% in Europe and 10% in Asia/Rest of World.  Adjusted Operating Income amounted to $730.5 million, a 12% increase from the prior-year amount of $652.6 million

Adjusted EPS and Adjusted Operating Income are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.

Outlook

The Company said that based on its assessment of market conditions today, management anticipates local currency sales growth in 2019 will be approximately 5%.  This sales growth is expected to result in Adjusted EPS in the range of $22.50 to $22.70, a growth rate of 11% to 12%.  Previously, the Company provided guidance for Adjusted EPS in the range of $22.40 to $22.60.  

Based on today's assessment of market conditions, management anticipates that local currency sales growth in the first quarter 2019 will be approximately 5.5%, and Adjusted EPS is forecasted to be in the range of $4.00 to $4.05, an increase of 7% to 8%.

While the Company has provided an outlook for local currency sales growth and Adjusted EPS, it has not provided an outlook for reported sales growth or EPS as it would require an estimate of currency exchange fluctuations and non-recurring items, which are not yet known.  The Company noted in making its outlook that economic uncertainty remains in certain regions of the world and market conditions are subject to change.   

Conclusion

Filliol concluded, "We ended 2018 on a positive note as demand in our markets remains solid and our growth initiatives continue to yield strong results.  We are cautious on the global economy as uncertainties exist, particularly concerning trade tariff disputes.  We will continue to monitor developments closely and adapt our plans if economic conditions change.  We assume market conditions will remain favorable and are confident in our ability to execute on our growth initiatives.  With the benefit of our investments in our field force, Spinnaker sales and marketing programs and new product launches, we believe we are well positioned to continue to gain market share.  With the positive impact from margin and productivity initiatives and, despite headwinds due to currency and tariffs, we believe we can deliver strong results in 2019."

Other Matters

The Company will host a conference call to discuss its quarterly results today (Thursday, Feb. 7) at 4:30 p.m. Eastern Time.  To hear a live webcast or replay of the call, visit the investor relations page on the Company's website at www.mt.com/investors .  The presentation referenced in 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 .

Statements in this press release which are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934.  These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses' actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.  In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or "continue" or the negative of those terms or other comparable terminology.  For a discussion of these risks and uncertainties, please see the discussion on forward-looking statements in our current report on Form 10-K.  All of the forward-looking statements are qualified in their entirety by reference to the factors discussed under the caption "Factors affecting our future operating results" and in the "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our annual report on Form 10-K for the most recently completed fiscal year, which describe risks and factors that could cause results to differ materially from those projected in those forward-looking statements.

 

 










































































































































































































































































































































































































































































































































































































































































































































 











































































































































































































































































































































































































































































































































































































































































































































 









































































































































































































 















































































































































































































































































































































































 






























































































































































































































































































 

 

Cision View original content:http://www.prnewswire.com/news-releases/mettler-toledo-international-inc-reports-fourth-quarter-2018-results-300792044.html

SOURCE Mettler-Toledo International Inc.



Register |  Password |  Feedback |  Copyright |  Usage Agreement |  Privacy Policy |  Advertising |  About Us |  Contact Us |  FAQ 

Past performance is not indicative of future results

StockSelector.com, the StockSelector.com logo, and News Selects are trademarks of StockSelector.com.
Copyright © 1998 - 2019 StockSelector.com. All rights reserved.