Mettler-Toledo (MTD) Beats On Q2 Earnings, Raises '17 View
Zacks Investment Research | Jul 27, 2017 09:05PM ET
Mettler-Toledo International Inc. (NYSE:MTD) reported second-quarter 2017 adjusted earnings of $3.92 per share, which beat the Zacks Consensus Estimate by three cents and increased 22% from the previous quarter.
Sales increased 7.5% from the year-ago quarter to $653.7 million. In local currency, sales grew 10%, which was better than management’s guided range of 8–9% growth. Excluding the impact of the Troemner acquisition, organic sales growth was approximately 8.5%.
The better-than-expected results were driven by strong growth across all product lines and regions. The company’s growth initiatives - Field Turbo investments, marketing initiatives, Spinnaker sales and new product launches continued delivering positive results.
Overall, we remain positive about Mettler-Toledo’s leading market position, focus on product development and cost reduction, sales and marketing efforts and operational excellence programs. The company is expected to benefit from strong growth prospects in product inspection and services.
Mettler-Toledo’s stock has gained 42.2% year to date, substantially outperforming the Zacks Investment Research
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