Mettler-Toledo Intl. (NYSE: MTD) reported Q3 EPS of $5.12, $0.12 better than the analyst estimate of $5.00. Revenue for the quarter came in at $734.85 million versus the consensus estimate of $738.16 million.

• Reported sales increased 5% compared with the prior year. In local currency, sales increased 7% in the quarter as currency reduced sales growth by 2%.
• Net earnings per diluted share as reported (EPS) were $4.93, compared with $3.99 in the prior-year period. Adjusted EPS was $5.12, an increase of 17% over the prior-year amount of $4.36. Adjusted EPS is a non-GAAP measure, and we have included a reconciliation to EPS on the last page of the attached schedules.

Third Quarter Results

Olivier Filliol, President and Chief Executive Officer, stated, "We had very good sales growth with particularly strong results in our Laboratory products. In addition, China had very good growth despite a difficult comparison with excellent sales growth in the prior year. Earnings growth was again strong as we continue to benefit from our margin and productivity initiatives."

Filliol concluded, "Demand remains solid in our markets and we are benefiting from our growth initiatives including investments in our field force, Spinnaker sales and marketing programs and new product launches. While global business activity remains good overall, we are more cautious on the global economy compared with earlier in the year. We will monitor closely and remain agile and adapt our plans if market conditions change. We are confident in our ability to execute on our growth initiatives and believe we are well positioned to continue to gain market share. Looking ahead to 2019, we assume current market conditions will remain largely unchanged. With the benefit of our margin and productivity initiatives, and despite greater headwinds due to currency and tariffs, we believe we can continue to deliver strong results for 2018 and 2019."

GUIDANCE:

Mettler-Toledo Intl. sees FY2018 EPS of $20.20-$20.25, versus the consensus of $20.20.

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