Precision measurement company Mettler-Toledo (NYSE: MTD) will be announcing earnings results this Thursday after the bell. Here’s what to expect.
Mettler-Toledo beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $983.2 million, up 3.9% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ organic revenue estimates.
Is Mettler-Toledo a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Mettler-Toledo’s revenue to grow 4.5% year on year to $997.5 million, improving from the 1.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $10.67 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mettler-Toledo has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Mettler-Toledo’s peers in the research tools & consumables segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Sotera Health Company delivered year-on-year revenue growth of 9.1%, beating analysts’ expectations by 2.6%, and Thermo Fisher reported revenues up 4.9%, topping estimates by 1.9%. Thermo Fisher traded up 2.6% following the results.
Read our full analysis of Sotera Health Company’s results here and Thermo Fisher’s results here.
Investors in the research tools & consumables segment have had steady hands going into earnings, with share prices flat over the last month. Mettler-Toledo is up 5.6% during the same time and is heading into earnings with an average analyst price target of $1,343 (compared to the current share price of $1,420).
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