Mettler-Toledo International Inc. Reports Third Quarter 2025 Results

COLUMBUS, Ohio--( BUSINESS WIRE)--Mettler-Toledo International Inc. (NYSE: MTD) today announced third quarter results for 2025. Provided below are the highlights:

Third Quarter Results

Patrick Kaltenbach, President and Chief Executive Officer, stated, “Our third quarter results were strong and reflected very good growth, especially in Industrial. I am very pleased with our team’s strong execution as we leverage our Spinnaker sales and marketing program and innovative product portfolio to drive growth while delivering solid EPS.”

GAAP Results

EPS in the quarter was $10.57, compared with the prior-year amount of $9.96.

Compared with the prior year, total reported sales increased 8% to $1,029.7 million. By region, reported sales increased 10% in the Americas, 13% in Europe, and 1% in Asia/Rest of World. Earnings before taxes amounted to $269.2 million, compared with $259.0 million in the prior year.

Non-GAAP Results

Adjusted EPS was $11.15, an increase of 9% over the prior-year amount of $10.21.

Compared with the prior year, total sales in local currency increased 6%. By region, local currency sales increased 10% in the Americas, 6% in Europe, and 1% in Asia/Rest of World. Adjusted Operating Profit amounted to $309.9 million, compared with the prior-year amount of $296.6 million.

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

Nine Month Results

GAAP Results

EPS was $28.12, compared with the prior-year amount of $28.55 which included a one-time non-cash tax benefit of $1.07 per share.

Compared with the prior year, total reported sales increased 2% to $2.897 billion. By region, reported sales increased 4% in the Americas, 3% in Europe, and 1% in Asia/Rest of World. Earnings before taxes amounted to $719.8 million, compared with $722.7 million in the prior year.

Non-GAAP Results

Adjusted EPS was $29.41, an increase of 2% over the prior-year amount of $28.74.

Total sales in local currency increased 2% compared with the prior year. By region, local currency sales as compared to prior year increased 4% in the Americas, were flat in Europe, and increased 1% in Asia/Rest of World. Excluding the impact from delayed fourth quarter 2023 shipments that benefited first quarter 2024 sales, year-to-date 2025 local currency sales increased 4%, including 5% growth in the Americas, 3% growth in Europe, and 2% growth in Asia/Rest of World. Adjusted Operating Profit amounted to $829.9 million, compared with the prior-year amount of $848.0 million.

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

Share Repurchase Authorization

The Company noted its Board of Directors authorized an additional $2.75 billion to be added to the share repurchase program, which had $1.1 billion remaining as of September 30, 2025. The Company expects the additional authorization will be utilized over the next few years, and that the repurchases will be made through open-market transactions, and the amount and timing will depend on business and market conditions, stock price, trading restrictions, the level of acquisition activity, and other factors.

Outlook

Management cautions that market conditions are uncertain and could change quickly. Based on today's assessment, management anticipates local currency sales for the fourth quarter of 2025 will increase approximately 3%. Adjusted EPS is forecast to be $12.68 to $12.88, a growth rate of 2% to 4%. Included in the fourth quarter guidance is an estimated 7% gross headwind to Adjusted EPS growth due to higher tariff costs.

For the full year 2025, management anticipates local currency sales will increase approximately 2%, which includes a headwind of approximately 1.5% from the previously disclosed shipping delays in the fourth quarter of 2023 that benefited the first quarter of 2024. Adjusted EPS is forecast to be in the range of $42.05 to $42.25, representing growth of approximately 2% to 3%. This forecast includes headwinds of approximately 4% from the previously mentioned shipping delays, and an additional 5% gross headwind from higher tariff costs. This compares with previous local currency sales growth guidance of approximately 1% to 2% and Adjusted EPS guidance of $41.70 to $42.20.

The Company stated that based on its assessment of market conditions today, management anticipates local currency sales growth of approximately 4% in 2026. This is expected to result in Adjusted EPS in the range of $45.35 to $46.00, representing growth of approximately 8% to 9%.

The Company does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort the timing and amount of future restructuring and other non-recurring items.

Conclusion

Kaltenbach concluded, “Looking ahead, we are well positioned to capture growth opportunities while benefiting from trends like automation, digitalization, and onshoring. We continue to remain very agile as we face several uncertainties in global trade disputes and governmental policies. We are confident that our strategic initiatives and strong culture of innovation and operational excellence will enable us to continue delivering strong performance in this dynamic environment. The additional share repurchase authorization also allows us to continue the share repurchase program that has provided strong returns for our shareholders over many years. We are confident in our future growth prospects, and our balance sheet and cash flow generation remain strong.”

Other Matters

The Company will host a conference call to discuss its quarterly results tomorrow morning (Friday, November 7) at 8:30 a.m. Eastern Time. To listen to a live webcast or replay of the call, visit the investor relations page on the Company’s website at investor.mt.com. The presentation referenced on 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.

Forward-Looking Statements Disclaimer

You should not rely on forward-looking statements to predict our actual results. Our actual results or performance may be materially different than reflected in forward-looking statements because of various risks and uncertainties. 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.”

We make forward-looking statements in this Quarterly Report about future events or our future financial performance, including sales and earnings growth, earnings per share, strategic plans and contingency plans, growth opportunities or economic downturns, our ability to respond to changes in market conditions, planned research and development efforts and product introductions, adequacy of facilities, access to and the costs of raw materials, shipping and supplier costs, gross margins, customer demand, our competitive position, pricing, capital expenditures, cash flow, share repurchases, tax-related matters, the impact of foreign currencies, compliance with laws, effects of acquisitions, the impact of inflation, ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, the conflict in Ukraine and continuing instability in the Middle East on our business.

Our forward-looking statements may not be accurate or complete, speak only as of the date of this Quarterly Report, and we do not intend to update or revise them in light of actual results. New risks also periodically arise. Please consider the risks and factors that could cause our results to differ materially from what is described in our forward-looking statements, including ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, inflation, the conflict in Ukraine and continuing instability in the Middle East. See in particular “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other reports filed with the SEC from time to time.

Three months ended

September 30, 2025

% of sales

Three months ended

September 30, 2024

% of sales

$1,029,699

(a)

100.0

$954,535

100.0

420,243

40.8

382,068

40.0

609,456

59.2

572,467

60.0

51,143

5.0

47,117

4.9

248,391

24.1

228,777

24.0

20,022

1.9

18,243

1.9

17,695

1.7

18,599

1.9

5,972

0.6

2,631

0.3

(3,003)

(0.2)

(1,852)

(0.2)

269,236

26.1

258,952

27.2

51,743

5.0

47,436

5.0

$217,493

21.1

$211,516

22.2

$10.60

$10.01

20,510,579

21,139,674

$10.57

$9.96

20,571,000

21,242,343

and common equivalent shares

(a) Local currency sales increased 6% (5% excluding acquisitions) as compared to the same period in 2024.

Three months ended

September 30, 2025

% of sales

Three months ended

September 30, 2024

% of sales

$269,236

$258,952

20,022

18,243

17,695

18,599

5,972

2,631

(3,003)

(1,852)

$309,922

(b)

30.1

$296,573

31.1

(b) Adjusted operating profit increased 5% as compared to the same period in 2024.

Nine months ended

September 30, 2025

% of sales

Nine months ended

September 30, 2024

% of sales

$2,896,664

(a)

100.0

$2,827,234

100.0

1,181,453

40.8

1,140,966

40.4

1,715,211

59.2

1,686,268

59.6

146,774

5.1

139,303

4.9

738,488

25.5

698,963

24.7

54,796

1.9

54,649

1.9

51,127

1.7

56,781

2.0

13,296

0.5

17,624

0.6

(9,105)

(0.4)

(3,728)

(0.1)

719,835

24.9

722,676

25.6

136,407

4.8

111,837

4.0

$583,428

20.1

$610,839

21.6

$28.20

$28.69

20,687,609

21,288,202

$28.12

$28.55

20,746,950

21,396,456

(a) Local currency sales increased 2% as compared to the same period in 2024.

Nine months ended

September 30, 2025

% of sales

Nine months ended

September 30, 2024

% of sales

$719,835

$722,676

54,796

54,649

51,127

56,781

13,296

17,624

(9,105)

(3,728)

$829,949

(b)

28.7

$848,002

30.0

(b) Adjusted operating profit decreased 2% as compared to the same period in 2024.

METTLER-TOLEDO INTERNATIONAL INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(amounts in thousands)

(unaudited)

September 30,

2025

December 31,

2024

$69,065

$59,362

687,264

687,112

401,808

342,274

123,065

105,158

1,281,202

1,193,906

817,738

770,280

1,009,560

926,057

412,966

349,756

$3,521,466

$3,239,999

$63,609

$182,623

247,404

215,843

881,115

769,727

1,192,128

1,168,193

2,146,249

1,831,265

432,287

367,431

3,770,664

3,366,889

(249,198)

(126,890)

$3,521,466

$3,239,999

Three months ended

Nine months ended

September 30,

2025

2024

2025

2024

$217,493

$211,516

$583,428

$610,839

12,715

12,836

38,049

37,709

20,022

18,243

54,796

54,649

(2,287)

(1,224)

(5,127)

(5,061)

(22,982)

5,506

4,359

16,027

13,622

299,372

254,666

730,187

702,159

733

(24,488)

(21,421)

(65,620)

(62,622)

(72,513)

(75,428)

(2,473)

(1,911)

(16,287)

(12,421)

(4,048)

(98,912)

(37,643)

(153,469)

(68,410)

435,629

539,071

1,558,207

1,561,649

(411,565)

(559,670)

(1,474,937)

(1,576,862)

1,797

14,203

10,859

22,339

(218,749)

(212,499)

(656,246)

(637,497)

(3)

(920)

(1,913)

(192,888)

(218,898)

(563,037)

(632,284)

(332)

2,639

(3,978)

302

7,240

764

9,703

1,767

61,825

70,810

59,362

69,807

$69,065

$71,574

$69,065

$71,574

Three months ended

Nine months ended

September 30,

2025

2024

2025

2024

$299,372

$254,666

$730,187

$702,159

4,949

4,086

10,594

19,766

901

13,404

10,723

733

(24,488)

(21,421)

(65,620)

(62,622)

$280,734

$237,396

$689,466

$670,759

Americas

Europe

Asia/RoW

Total

10%

13%

10%

Total net sales growth in local currency was 5%, and 9% in the Americas, excluding acquisitions for the three months ended September 30, 2025.

The Company estimates net sales growth for the nine months ended September 30, 2025 was reduced by approximately 2% from the recovery of delayed shipments during the first quarter of 2024. Excluding this impact, local currency net sales increased by 4%, and by geographic destination increased 5% in the Americas, 3% in Europe and 2% in Asia/Rest of World for the nine months ended September 30, 2025.

Three months ended

Nine months ended

September 30,

2025

2024

% Growth

2025

2024

% Growth

$10.57

$9.96

$28.12

$28.55

-2%

0.26

(a)

0.23

(a)

0.74

(a)

0.71

(a)

0.24

(b)

0.10

(b)

0.52

(b)

0.67

(b)

0.05

(c)

0.05

(c)

0.03

(d)

(0.08)

(d)

(0.02)

(d)

(1.19)

(d)

$11.15

$10.21

$29.41

$28.74

(d)