COLUMBUS, Ohio, April 13, 2020 /PRNewswire/
-- Mettler-Toledo International Inc. (NYSE: MTD), a leading
global supplier of precision instruments and services, announced
today that due to the negative impact of the global spread of the
COVID-19 pandemic, it is withdrawing 2020 annual guidance, which
was provided on February 6, 2020.
For the first quarter ended March 31,
2020, the Company expects that reported sales declined 4%
and local currency sales declined 3% as currency reduced sales
growth by 1%. The Company noted that first quarter local currency
sales were negatively impacted by the COVID-19 pandemic on its
operations in China as well as in
other regions. The Company estimates that Adjusted EPS for the
first quarter of 2020 will be below previously issued guidance.
Adjusted EPS and local currency sales are non-GAAP financial
measures.
Mettler-Toledo International Inc. is a global market leader in
the majority of its businesses. The Company has excellent
competitive advantages including a sophisticated sales and
marketing approach, an extensive global service force, long history
of innovation and a diverse product portfolio. The Company has a
strong culture of execution and excellent long-term track record.
Its principal end markets are life sciences, food manufacturers,
chemical companies and food retailers.
The Company will release its first quarter 2020 results after
the market closes on Thursday, May 7,
2020 and hold a conference call at 5pm Eastern Time to discuss its quarterly
results. To hear a live webcast or replay of the call, please visit
the investor relations page on the Company's website at
www.mt.com/investors.
METTLER TOLEDO (NYSE: MTD) is a
leading global supplier of precision instruments and services. We
have strong leadership positions in all of our businesses and
believe we hold global number-one market positions in most of them.
We are recognized as an innovation leader and our solutions are
critical in key R&D, quality control and manufacturing
processes for customers in a wide range of industries including
life sciences, food and chemicals. Our sales and service network is
one of the most extensive in the industry. Our products are sold in
more than 140 countries and we have a direct presence in
approximately 40 countries. With proven growth strategies and a
focus on execution, we have achieved a long-term track record of
strong financial performance. For more information, please visit
www.mt.com.
Statements in this press release which are not historical facts
constitute "forward-looking statements" within the meaning of
Section 27A of the U.S. Securities Act of 1933 and Section 21E of
the U.S. Securities Exchange Act of 1934. You should not rely on
forward-looking statements to predict our actual results. Our
actual results or performance may be materially different than
reflected in forward-looking statements because of various risks
and uncertainties, including statements about expected revenue
growth and long-term impacts of the COVID-19 pandemic. In some
cases, you can identify forward-looking statements by terminology
such as "may," "will," "could," "would," "should," "expect,"
"plan," "anticipate," "intend," "believe," "estimate," "predict,"
"potential" or "continue." We make forward-looking statements about
future events or our future financial performance, including
earnings and sales growth, earnings per share, strategic plans and
contingency plans, growth opportunities or economic downturns, our
ability to respond to changes in market conditions, customer
demand, our competitive position, pricing, our supply chain,
adequacy of our facilities, access to and the costs of raw
materials, shipping and supplier costs, gross margins, planned
research and development efforts and product introductions, capital
expenditures, cash flow, tax-related matters, the impact of foreign
currencies, compliance with laws, effects of acquisitions and the
impact of the COVID-19 pandemic on our businesses. Our
forward-looking statements may not be accurate or complete, and we
do not intend to update or revise them in light of actual results.
New risks also periodically arise. Please consider the risks and
factors that could cause our results to differ materially from what
is described in our forward-looking statements, including the
uncertain duration and severity of the COVID-19 pandemic. See in
particular "Factors Affecting Our Future Operating Results" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Annual Report on Form 10-K for the
year ended December 31, 2019 and
other reports filed with the SEC from time to time.
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SOURCE Mettler-Toledo International Inc.