By Jeffrey T. Lewis
Mettler-Toledo International Inc. announced Thursday that its second quarter earnings were up year-over-year due to broad-based sales growth for most of its product lines.
The Columbus, Ohio-based precision balance manufacturer reported net income of $ 184.8 million, compared to a profit of $ 126.6 million in the same period last year, while net sales rose 34% to 924, $ 4 million soared. Mettler-Toledo reported net earnings per diluted share of $ 7.85, compared to $ 5.22 for the second quarter last year.
Mettler-Toledo said total sales in local currencies increased 27% and sales also increased in all regions the company operates in, including 29% growth in America, 23% growth in Europe and 28% in Asia and the rest of the world.
The company said the market conditions in which it operates are dynamic and warned that changes in those conditions can occur quickly, particularly the coronavirus pandemic situation. Based on the current market assessment, however, the company expects sales growth in local currency of around 15% this year. For the third quarter, Mettler-Toledo expects adjusted earnings per share in a range of $ 8.12 to $ 8.27.
Write to Jeffrey T. Lewis at [email protected]
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