Mettler-Toledo International Inc. announced its third-quarter 2024 financial results, reporting GAAP diluted earnings per share (EPS) of $9.96, an increase from $9.21 in the prior-year period. Adjusted EPS for the quarter rose 4% to $10.21, compared to $9.80 in the previous year. Total reported sales for the quarter increased 1% to $954.5 million, up from $942.462 million in the third quarter of 2023.
The company experienced good growth in its Laboratory business and particularly strong growth in its Service segment during the quarter. While China showed modest growth, market conditions in the Industrial sector remained challenging. Local currency sales for the quarter increased by 1%, reflecting the underlying business performance.
For the fourth quarter of 2024, management anticipates local currency sales to increase approximately 8%, which includes a 6% benefit from previously disclosed shipping delays from the fourth quarter of 2023. Adjusted EPS for Q4 is forecast to be between $11.63 and $11.78, representing growth of 24% to 25%. The full-year 2024 adjusted EPS guidance was raised to a range of $40.35 to $40.50, representing approximately 6% growth, up from the previous guidance of $40.20 to $40.50. This full-year guidance includes an estimated 2% headwind to Adjusted EPS growth due to adverse currency.
Looking ahead to 2025, Mettler-Toledo provided an initial outlook, projecting local currency sales growth of approximately 3%. This forecast includes a headwind to growth of approximately 1.5% due to the 2023 shipping delays that benefited 2024 results. Adjusted EPS for 2025 is expected to be in the range of $41.85 to $42.50, representing growth of approximately 4% to 5%.
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