Precision measurement company Mettler-Toledo (NYSE:MTD) will be reporting results this Thursday after market close. Here’s what to look for.
Mettler-Toledo met analysts’ revenue expectations last quarter, reporting revenues of $1.03 billion, up 4.5% year on year. It was a strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and a narrow beat of analysts’ full-year EPS guidance estimates.
Is Mettler-Toledo a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Mettler-Toledo’s revenue to grow 4.2% year on year, slowing from the 7.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Mettler-Toledo rarely misses Wall Street’s revenue estimates.
Looking at Mettler-Toledo’s peers in the research tools & consumables segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Avantor delivered year-on-year revenue growth of 4.6%, beating analysts’ expectations by 3.4%, and Thermo Fisher reported revenues up 9.1%, topping estimates by 1.4%. Avantor traded down 2.6% following the results while Thermo Fisher was also down 1.6%.
Read our full analysis of Avantor’s results here and Thermo Fisher’s results here.
There has been positive sentiment among investors in the research tools & consumables segment, with share prices up 2.8% on average over the last month. Mettler-Toledo is up 9.6% during the same time and is heading into earnings with an average analyst price target of $1,526 (compared to the current share price of $1,690).
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