Mettler-Toledo International Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 05:10 pm EST
Share
Mettler-Toledo International Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 934.99 million compared to USD 1,057.69 million a year ago. Net income was USD 184.8 million compared to USD 265.83 million a year ago. Basic earnings per share from continuing operations was USD 8.56 compared to USD 11.97 a year ago. Diluted earnings per share from continuing operations was USD 8.52 compared to USD 11.86 a year ago.
For the full year, sales was USD 3,788.31 million compared to USD 3,919.71 million a year ago. Net income was USD 788.78 million compared to USD 872.5 million a year ago. Basic earnings per share from continuing operations was USD 36.1 compared to USD 38.79 a year ago. Diluted earnings per share from continuing operations was USD 35.9 compared to USD 38.41 a year ago.
Mettler-Toledo International, Inc. specializes in the design, manufacturing and marketing of precision instruments. Net sales break down by sector of activity as follows:
- research and development in laboratories (55.6%): weighing solutions (analytical balances, precision balances, microbalances, mass comparators, etc.), pipetting systems, analytical instruments (thermal analysis instruments, titrators, pH meters, densimeters, refractometers and spectrophotometers), automated reactors, etc. ;
- industries (39.3%): industrial scales, analysis systems, industrial inspection and control systems. The group also offers software solutions for weighing, measuring and identification, as well as solutions to monitor and control production processes;
- distribution of food products (6.1%): weighing solutions (weight / price scales, counter balances, cash balances, etc.), packaging, pricing, packaging and labeling.
Net sales by source of revenue break down between product sales (76.7%) and services (23.3%).
At the end of 2023, the group had 30 production sites worldwide.
Net sales are distributed geographically as follows: the United States (35.5%), the Americas (5.9%), Germany (5.8%), France (3.7%), Switzerland (2.4%), the United Kingdom (2.1%), Europe (12.8%), China (18.7%) and other (13.1%).