Mettler-Toledo: Provides Update on Q4-2023 Results

Columbus / OH. (mti) Mettler-Toledo International Inc. announced that sales and Adjusted EPS for the fourth quarter of 2023 will be below its previously-issued guidance due to unexpected shipping delays with a new external European logistics service provider, which the Company expects to largely recover in the first quarter of 2024. For the fourth quarter ended December 31, 2023, the Company estimates, based upon preliminary information, that reported sales declined approximately 12 percent and local currency sales declined approximately 13 percent as currency increased sales growth by approximately 1 percent. This compares with previous fourth quarter local currency sales decline guidance of approximately 7 to 8 percent. The Company is evaluating the impact of the shipping delays on its fourth quarter 2023 Adjusted EPS results, and therefore also withdrew its previously-issued Adjusted EPS guidance. Mettler-Toledo will be presenting at the 42nd Annual in San Francisco (CA) on January 10 to provide additional information.