Mettler-Toledo Intl. (NYSE: MTD) reported Q2 EPS of $3.92, $0.02 better than the analyst estimate of $3.90. Revenue for the quarter came in at $653.66 million versus the consensus estimate of $647.82 million.

Outlook

The Company said that based on its assessment of market conditions today, management anticipates local currency sales growth in 2017 will be approximately 8%. This sales growth is expected to result in Adjusted EPS in the range of $17.25 to $17.35, an increase of 17%. This compares to previous guidance of Adjusted EPS in the range of $16.95 to $17.15.

For the third quarter 2017, local currency sales growth is expected to be approximately 5% and Adjusted EPS in the range of $4.25 to $4.30, an increase of 9% to 11%.

While the Company has provided an outlook for Adjusted EPS, it has not provided an outlook for EPS as it would require an estimate of 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.

GUIDANCE:

Mettler-Toledo Intl. sees FY2017 EPS of $17.25-$17.35, versus the consensus of $17.26.

Mettler-Toledo Intl. sees Q2 2017 EPS of $4.25-$4.30, versus the consensus of $4.21.

• Sales in local currency increased 10% in the quarter compared with the prior year. Reported sales increased 7% as currency reduced sales growth by 3% in the quarter.
• Net earnings per diluted share as reported (EPS) were $3.84, compared with $2.93 in the prior-year period. Adjusted EPS was $3.92, an increase of 22% over the prior-year amount of $3.22. Adjusted EPS is a non-GAAP measure and we have included a reconciliation to EPS on the last page of the attached schedules.

For earnings history and earnings-related data on Mettler-Toledo Intl. (MTD) click here.