Page 1

METTLER TOLEDO Mettler - Toledo International Inc. Reports Third Quarter 2021 Results November 4 , 2021 COLUMBUS , Ohio , Nov. 4 , 2021 / PRNewswire / -- Mettler - Toledo International Inc. ( NYSE : MTD ) today announced third quarter results for 2021 . Provided below are the highlights : • Reported sales increased 18 % compared with the prior year . In local currency , sales increased 16 % in the quarter as currency benefited reported sales growth by 2 % . • Net earnings per diluted share as reported ( EPS ) were $ 8.71 , compared with $ 6.68 in the prior - year period . Adjusted EPS was $ 8.72 , an increase of 24 % over the prior - year amount of $ 7.02 . Adjusted EPS is a non - GAAP measure , and a reconciliation to EPS is included on the last page of the attached schedules . Third Quarter Results Patrick Kaltenbach , President and Chief Executive Officer , stated , " We had very strong sales growth with broad - based increases in all regions . Our Laboratory product lines had excellent growth and our Industrial business also performed very well . Our ability to meet heightened customer demand while navigating the challenges of the global supply chain is proving to be a competitive advantage in the current environment . Robust sales growth and agile execution drove strong growth in Adjusted Operating Profit , Adjusted EPS and cash flow generation . " GAAP Results EPS in the quarter was $ 8.71 , compared with the prior - year amount of $ 6.68 . Compared with the prior year , total reported sales increased 18 % to $ 952.0 million . By region , reported sales increased 20 % in the Americas , 12 % in Europe and 21 % in Asia / Rest of World . Earnings before taxes amounted to $ 247.6 million , compared with $ 205.8 million in the prior year . Non - GAAP Results Adjusted EPS was $ 8.72 , an increase of 24 % over the prior - year amount of $ 7.02 . Compared with the prior year , total sales in local currency increased 16 % as currency benefited sales growth by 2 % . By region , local currency sales increased 20 % in the Americas , 10 % in Europe and 16 % in Asia / Rest of World . Adjusted Operating Profit amounted to $ 272.8 million , a 19 % increase from the prior - year amount of $ 230.0 million . Adjusted EPS and Adjusted Operating Profit are non - GAAP measures . Reconciliations to the most comparable GAAP measures are provided in the attached schedules . Nine Month Results GAAP Results EPS was $ 22.86 , compared with the prior - year amount of $ 15.92 . Compared with the prior year , total reported sales increased 25 % to $ 2.681 billion . By region , reported sales increased 22 % in the Americas , 22 % in Europe and 31 % in Asia / Rest of World . Earnings before taxes amounted to $ 663.4 million , compared with $ 479.6 million in the prior year . Non - GAAP Results Adjusted EPS was $ 23.37 , an increase of 43 % over the prior - year amount of $ 16.30 . Compared with the prior year , total sales in local currency increased 20 % as currency benefited sales growth by 5 % . By region , local currency sales increased 21 % in the Americas , 15 % in Europe and 23 % in Asia / Rest of World . Adjusted Operating Profit amounted to $ 738.7 million , a 35 % increase from the prior - year amount of $ 547.9 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 stated 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 and the challenges in the global supply chain on the 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 for the fourth quarter of 2021 will be approximately 8 % , and Adjusted EPS is forecasted to be $ 10.00 to $ 10.05 , a growth rate of 8 % to 9 % . For the full year 2021 , local currency sales growth is expected to be approximately 17 % , and Adjusted EPS is forecasted to be in the range of $ 33.35 to $ 33.40 , an increase of 30 % . This compares with previous guidance of Adjusted EPS in the range of $ 32.60 to $ 32.90 .