Mettler-Toledo Intl. (NYSE: MTD) reported Q1 EPS of $3.74, $0.01 better than the analyst estimate of $3.73. Revenue for the quarter came in at $660.8 million versus the consensus estimate of $651.86 million.

Sales in local currency increased 5% in the quarter compared with the prior year. Reported sales increased 11% as currency increased sales growth by 6% in the quarter.

• Net earnings per diluted share as reported (EPS) were $3.58, compared with $3.48 in the prior-year period. Adjusted EPS was $3.74, an increase of 12% over the prior-year amount of $3.34. Adjusted EPS is a non-GAAP measure, and we have included a reconciliation to EPS on the last page of the attached schedules.

Outlook

The Company said that, based on its assessment of market conditions today, management anticipates local currency sales growth in 2018 will be approximately 6%. This sales growth is expected to result in

Adjusted EPS in the range of $20.10 to $20.25, which reflects growth of 14% to 15%. This compares with previous guidance of Adjusted EPS in the range of $19.95 to $20.15.

Management anticipates that local currency sales growth in the second quarter 2018 will be approximately 6%, and Adjusted EPS is forecasted to be in the range of $4.55 to $4.60, an increase of 16% to 17%.

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 FY2018 EPS of $20.10-$20.25, versus the consensus of $20.19.

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