Page 1

METTLER TOLEDO Mettler - Toledo International Inc. Reports First Quarter 2021 Results May 6 , 2021 COLUMBUS , Ohio , May 6 , 2021 / PRNewswire / -- Mettler - Toledo International Inc. ( NYSE : MTD ) today announced first quarter results for 2021 . Provided below are the highlights : • Reported sales increased 24 % compared with the prior year . In local currency , sales increased 18 % in the quarter as currency benefited reported sales growth by 6 % . • Net earnings per diluted share as reported ( EPS ) were $ 6.32 , compared with $ 4.03 in the prior - year period . Adjusted EPS was $ 6.56 , an increase of 64 % over the prior - year amount of $ 4.00 . Adjusted EPS is a non - GAAP measure , and a reconciliation to EPS is included on the last page of the attached schedules . First Quarter Results Patrick Kaltenbach , President and Chief Executive Officer , stated , " We have had an excellent start to the year with strong broad - based sales growth in all regions . China in particular had outstanding performance , and our results in the Americas and Europe were also better than expected . We capitalized on robust market demand and executed well to meet customer needs . Outstanding sales growth , combined with continued good cost control and the execution of our margin and productivity initiatives , resulted in excellent growth in Adjusted Operating Profit , Adjusted EPS and cash flow generation . " GAAP Results EPS in the quarter was $ 6.32 , compared with the prior - year amount of $ 4.03 . Compared with the prior year , total reported sales increased 24 % to $ 804.4 million . By region , reported sales increased 15 % in the Americas , 24 % in Europe and 37 % in Asia / Rest of World . Earnings before taxes amounted to $ 185.4 million , compared with $ 118.5 million in the prior year . Non - GAAP Results Adjusted EPS was $ 6.56 , an increase of 64 % over the prior - year amount of $ 4.00 . Compared with the prior year , total sales in local currency increased 18 % as currency benefited sales growth by 6 % . By region , local currency sales increased 14 % in the Americas , 14 % in Europe and 29 % in Asia / Rest of World . Adjusted Operating Profit amounted to $ 210.7 million , a 49 % increase from the prior - year amount of $ 141.3 million . Adjusted EPS and Adjusted Operating Profit are non - GAAP measures . Reconciliations to the most comparable GAAP measures are provided in the attached schedules . Outlook The Company emphasized that forecasting continues to be challenging . Management cautions that market conditions are dynamic and changes to the business environment can happen quickly . Uncertainty remains surrounding the impact of COVID - 19 on the global economic environment . The estimates include uncertainty and management acknowledges that market conditions are subject to change . Based on today's assessment of market conditions , management anticipates local currency sales growth in 2021 will be in the range of 10 % to 12 % , and Adjusted EPS is forecasted to be in the range of $ 31.45 to $ 31.90 , an increase of 22 % to 24 % . This compares with previous guidance of Adjusted EPS in the range of $ 29.20 to $ 29.80 . For the second quarter of 2021 , based on current market conditions , the Company anticipates that local currency sales growth will be in the range of 19 % to 21 % , and Adjusted EPS is forecasted to be $ 7.50 to $ 7.65 , a growth rate of 42 % to 45 % . While the Company has provided an outlook for local currency sales growth and Adjusted EPS , it has not provided an outlook for reported sales growth or EPS as it would require an estimate of currency exchange fluctuations and non - recurring items , which are not yet known . Conclusion Kaltenbach concluded , " Our end markets have good momentum , and we are ideally positioned to capitalize on this growth potential by leveraging our Spinnaker sales and marketing initiatives , excellent product portfolio and outstanding service offering . The organization continues to demonstrate utmost resilience and agility in reacting and adapting to rapidly changing market conditions . Our focus remains serving our customer needs and gaining market share . We also continue to diligently implement our margin and productivity initiatives , which are important contributors to our results . Execution has always been a competitive advantage , and it is particularly important now given current market dynamics . We believe we can deliver very strong results in 2021. " Other Matters The Company will host a conference call to discuss its quarterly results today ( Thursday , May 6 ) at 5:00 p.m. Eastern Time . To hear a live webcast or replay of the call , visit the investor relations page on the Company's website at www.mt.com/investors . The presentation referenced in the conference