Mettler-Toledo International Inc. (MTD), headquartered in Columbus, Ohio, manufactures and supplies precision instruments and services for laboratory, industrial, and food retailing applications. Valued at $28.40 billion by market cap, the company’s solutions are critical in key R&D, quality control, and manufacturing processes for customers across life sciences, food, and chemical industries. The leading precision instruments supplier is expected to announce its fiscal second-quarter earnings for 2024 after the market closes on Thursday, August 1.

Ahead of the event, analysts expect MTD to report a profit of $9 per share on a diluted basis, down 11.7% from $10.19 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on one other occasion. President and CEO Patrick Kaltenbach said the company expects softer market conditions in Q2, especially in China. 

For the full year, analysts expect MTD to report EPS of $40.13, up 5.5% from $38.03 in fiscal 2023.

MTD stock has underperformed the S&P 500’s ($SPX) 17.1% gains on a YTD basis, with shares up 9.7% during this period. However, it outshined the S&P 500 Healthcare Sector SPDR’s (XLV) 5.7% gains over the same time frame.

On May 10, MTD shares rose over 17% after the company reported robust Q1 results and raised its full-year adjusted EPS guidance. Its adjusted EPS of $8.89 surpassed Wall Street expectations of $7.61. The company’s revenue of $925.9 million topped Wall Street forecasts of $880.7 million. For Q2, MTD expects its adjusted EPS to be between $8.90 and $9.05, a decline of 11% to 13%. The company expects full-year adjusted EPS to be between $39.90 and $40.40, a growth of 5% to 6%.

Analysts’ consensus opinion on MTD stock is cautious, with a “Hold” rating overall. Out of nine analysts covering the stock, one advises a “Strong Buy” rating, six give a “Hold” rating, one suggests a “Moderate Sell” rating, and one recommends a “Strong Sell.” The average analyst price target for MTD is $1341.67, indicating a marginal potential upside from the current levels. 

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On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.