What's in the Offing for Mettler-Toledo's (MTD) Q2 Earnings?
Mettler-Toledo International, Inc. MTD is scheduled to report second-quarter 2023 results on Jul 27.
For the second quarter, MTD projects sales growth of 3% in local currency from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for the same is pegged at $1 billion, indicating growth of 2.4% from the year-ago period’s reported figure.
Adjusted quarterly earnings are anticipated to be $9.90-$10.00 per share, implying a 5-7% rise from the year-ago quarter’s reported number. The consensus mark for the same is projected at $9.99 per share, suggesting 6.4% growth from the prior-year quarter’s reading.
We note that MTD’s bottom line surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average being 4.02%.
Mettler-Toledo International, Inc. Price and EPS Surprise
Mettler-Toledo International, Inc. price-eps-surprise | Mettler-Toledo International, Inc. Quote
Key Factors to Consider
Portfolio strength, cost-cutting efforts, robust sales and marketing strategies, as well as margin and productivity initiatives, are expected to have aided the second quarter’s performance.
The impacts of Mettler-Toledo’s solid momentum across the Laboratory, Food Retail and Industrial segments are expected to get reflected in the to-be-reported results.
Its investments in product portfolio expansion, field force, Spinnaker sales and marketing programs are likely to have driven sales for the Laboratory Instruments segment in the quarter under review.
Strong momentum across the pharmaceutical and life sciences markets is expected to have benefited the segment in the quarter under discussion.
The Zacks Consensus Estimate for Laboratory sales is pegged at $578 million, indicating growth of 5.9% from the year-ago reported figure.
Solid momentum across the core industrial business is likely to have driven the Industrial Instruments segment’s sales in the to-be-reported quarter.
The Zacks Consensus Estimate for Industrial sales is pegged at $391 million, indicating growth of 1.8% from the year-ago reported figure.
The consensus mark for Food Retail sales is pegged at $52 million, reflecting growth of 7.7% from the reported in the prior-year quarter.
Mettler-Toledo’s strengthening presence in the Americas, Europe, Asia and the Rest of the World regions might have been another positive
However, macroeconomic headwinds, supply-chain challenges and growing geo-political tensions are likely to have posed challenges to Mettler-Toledo in the second quarter. The impacts of unfavorable foreign exchange rate fluctuations are likely to get reflected in the upcoming results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Mettler-Toledo this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below.
Mettler-Toledo has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MTD carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some stocks worth considering from the same space, as our model shows that they have the right combination of elements to beat on earnings this season.
Itron ITRI has an Earnings ESP of +13.78% and sports a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
Airbnb ABNB has an Earnings ESP of +2.87% and a Zacks Rank #2 at present.
Airbnb is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ABNB’s earnings is pegged at 77 cents per share, suggesting growth of 37.5% from the prior-year fiscal period’s reported figure.
Carrier Global CARR has an Earnings ESP of +1.53% and a Zacks Rank #3 at present.
Carrier is set to report second-quarter 2023 results on Jul 27. The Zacks Consensus Estimate for CARR’s earnings is pegged at 76 cents per share, suggesting growth of 10.1% from the prior-year fiscal period’s reported figure.
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