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.
The Company said that based on its assessment of market
conditions today, management anticipates local currency sales
growth in 2022 will be approximately 6%. This sales growth is
expected to result in Adjusted EPS in the range of $37.25 to $37.65.
Using the mid-point of 2021 guidance, this would result in Adjusted
EPS growth of 12% to 13%.
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 remain favorable and our
strategic initiatives are very effective at capturing growth. We
continue to invest in the strength and breadth of our product
portfolio, further extending our technology lead; leverage our
excellent sales and marketing approaches; and reinforce customer
trust through our global service offering, which supports
customers' productivity. We have successfully navigated the
challenges of the global supply chain to date but are cautious as
dynamics remain challenging and conditions can change rapidly.
Although pockets of uncertainty exist in the global economy, we
believe we are ideally positioned to continue to gain market share.
With our proven strategies, good demand in our end markets and
continued focused execution of our growth and margin initiatives,
we believe we are in an excellent position to deliver strong
results in 2021 and 2022."
Other Matters
The Company will host a conference call to discuss its quarterly
results today (Thursday, Nov. 4) 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 call will be located on
the website prior to the call.
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, 2020 and
other reports filed with the SEC from time to time.
METTLER-TOLEDO
INTERNATIONAL INC.
CONSOLIDATED
STATEMENTS OF OPERATIONS
(amounts in
thousands except share data)
(unaudited)
|
|
|
|
|
Three months
ended
|
|
|
|
Three months
ended
|
|
|
|
|
September 30,
2021
|
|
% of sales
|
|
September 30,
2020
|
|
% of sales
|
|
|
|
|
|
|
|
|
|
Net sales
|
$951,950
|
(a)
|
100.0
|
|
$807,357
|
|
100.0
|
Cost of
sales
|
396,130
|
|
41.6
|
|
337,749
|
|
41.8
|
Gross
profit
|
555,820
|
|
58.4
|
|
469,608
|
|
58.2
|
|
|
|
|
|
|
|
|
|
Research and
development
|
42,276
|
|
4.4
|
|
34,656
|
|
4.3
|
Selling, general and
administrative
|
240,734
|
|
25.3
|
|
204,974
|
|
25.4
|
Amortization
|
16,039
|
|
1.7
|
|
14,121
|
|
1.7
|
Interest
expense
|
11,791
|
|
1.2
|
|
9,310
|
|
1.2
|
Restructuring
charges
|
650
|
|
0.1
|
|
4,570
|
|
0.6
|
Other charges
(income), net
|
(3,257)
|
|
(0.3)
|
|
(3,832)
|
|
(0.5)
|
Earnings before
taxes
|
247,587
|
|
26.0
|
|
205,809
|
|
25.5
|
|
|
|
|
|
|
|
|
|
Provision for
taxes
|
43,899
|
|
4.6
|
|
44,042
|
|
5.5
|
Net
earnings
|
$203,688
|
|
21.4
|
|
$161,767
|
|
20.0
|
|
|
|
|
|
|
|
|
|
Basic earnings per
common share:
|
|
|
|
|
|
|
|
Net
earnings
|
$8.83
|
|
|
|
$6.76
|
|
|
Weighted average
number of common shares
|
23,056,924
|
|
|
|
23,922,272
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
common share:
|
|
|
|
|
|
|
|
Net
earnings
|
$8.71
|
|
|
|
$6.68
|
|
|
Weighted average
number of common
|
23,393,579
|
|
|
|
24,225,204
|
|
|
and common
equivalent shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
|
|
|
|
|
|
|
|
(a) Local currency sales increased 16% as compared to the
same period in 2020.
|
|
|
|
|
|
|
|
|
|
RECONCILIATION OF
EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
|
|
Three months
ended
|
|
|
|
|
September 30,
2021
|
|
% of sales
|
|
September 30,
2020
|
|
% of sales
|
|
|
|
|
|
|
|
|
|
Earnings before
taxes
|
$247,587
|
|
|
|
$205,809
|
|
|
Amortization
|
16,039
|
|
|
|
14,121
|
|
|
Interest
expense
|
11,791
|
|
|
|
9,310
|
|
|
Restructuring
charges
|
650
|
|
|
|
4,570
|
|
|
Other charges
(income), net
|
(3,257)
|
|
|
|
(3,832)
|
|
|
Adjusted operating
profit
|
$272,810
|
(b)
|
28.7
|
|
$229,978
|
|
28.5
|
|
|
|
|
|
|
|
|
|
Note:
|
|
|
|
|
|
|
|
(b) Adjusted operating profit increased 19% as compared
to the same period in 2020.
|
METTLER-TOLEDO
INTERNATIONAL INC.
CONSOLIDATED
STATEMENTS OF OPERATIONS
(amounts in
thousands except share data)
(unaudited)
|
|
|
|
Nine months
ended
|
|
|
|
Nine months
ended
|
|
|
|
|
September 30,
2021
|
|
% of sales
|
|
September 30,
2020
|
|
% of sales
|
|
|
|
|
|
|
|
|
|
Net sales
|
$2,680,691
|
(a)
|
100.0
|
|
$2,147,192
|
|
100.0
|
Cost of
sales
|
1,116,271
|
|
41.6
|
|
905,205
|
|
42.2
|
Gross
profit
|
1,564,420
|
|
58.4
|
|
1,241,987
|
|
57.8
|
|
|
|
|
|
|
|
|
|
Research and
development
|
124,151
|
|
4.6
|
|
100,236
|
|
4.7
|
Selling, general and
administrative
|
701,531
|
|
26.2
|
|
593,852
|
|
27.7
|
Amortization
|
46,141
|
|
1.7
|
|
42,008
|
|
2.0
|
Interest
expense
|
31,701
|
|
1.2
|
|
29,111
|
|
1.3
|
Restructuring
charges
|
2,719
|
|
0.1
|
|
7,335
|
|
0.3
|
Other charges
(income), net
|
(5,208)
|
|
(0.2)
|
|
(10,118)
|
|
(0.5)
|
Earnings before
taxes
|
663,385
|
|
24.8
|
|
479,563
|
|
22.3
|
|
|
|
|
|
|
|
|
|
Provision for
taxes
|
125,271
|
|
4.7
|
|
93,119
|
|
4.3
|
Net
earnings
|
$538,114
|
|
20.1
|
|
$386,444
|
|
18.0
|
|
|
|
|
|
|
|
|
|
Basic earnings per
common share:
|
|
|
|
|
|
|
|
Net
earnings
|
$23.19
|
|
|
|
$16.13
|
|
|
Weighted average
number of common shares
|
23,203,257
|
|
|
|
23,963,311
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
common share:
|
|
|
|
|
|
|
|
Net
earnings
|
$22.86
|
|
|
|
$15.92
|
|
|
Weighted average
number of common
|
23,536,615
|
|
|
|
24,272,354
|
|
|
and common
equivalent shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
|
|
|
|
|
|
|
|
(a) Local currency sales increased 20% as compared to the
same period in 2020.
|
|
|
|
|
|
|
|
|
|
RECONCILIATION OF
EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT
|
|
|
|
|
|
|
|
|
|
|
|
Nine months
ended
|
|
|
|
Nine months
ended
|
|
|
|
|
September 30,
2021
|
|
% of sales
|
|
September 30,
2020
|
|
% of sales
|
|
|
|
|
|
|
|
|
|
Earnings before
taxes
|
$663,385
|
|
|
|
$479,563
|
|
|
Amortization
|
46,141
|
|
|
|
42,008
|
|
|
Interest
expense
|
31,701
|
|
|
|
29,111
|
|
|
Restructuring
charges
|
2,719
|
|
|
|
7,335
|
|
|
Other charges
(income), net
|
(5,208)
|
|
|
|
(10,118)
|
|
|
Adjusted operating
profit
|
$738,738
|
(b)
|
27.6
|
|
$547,899
|
|
25.5
|
|
|
|
|
|
|
|
|
|
Note:
|
|
|
|
|
|
|
|
(b) Adjusted operating profit increased 35% as compared
to the same period in 2020.
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(amounts in
thousands)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2021
|
|
|
December 31,
2020
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
$183,672
|
|
|
|
|
$94,254
|
|
Accounts receivable,
net
|
|
|
603,364
|
|
|
|
|
593,809
|
|
Inventories
|
|
|
381,457
|
|
|
|
|
297,611
|
|
Other current assets
and prepaid expenses
|
|
|
77,731
|
|
|
|
|
71,230
|
|
Total current
assets
|
|
|
1,246,224
|
|
|
|
|
1,056,904
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
|
783,813
|
|
|
|
|
798,868
|
|
Goodwill and other
intangibles assets, net
|
|
|
927,777
|
|
|
|
|
747,055
|
|
Other non-current
assets
|
|
|
249,347
|
|
|
|
|
211,722
|
|
Total
assets
|
|
|
$3,207,161
|
|
|
|
|
$2,814,549
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings
and maturities of long-term debt
|
|
|
$53,524
|
|
|
|
|
$50,317
|
|
Trade accounts
payable
|
|
|
219,294
|
|
|
|
|
175,801
|
|
Accrued and other
current liabilities
|
|
|
728,743
|
|
|
|
|
614,209
|
|
Total current
liabilities
|
|
|
1,001,561
|
|
|
|
|
840,327
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term
debt
|
|
|
1,639,583
|
|
|
|
|
1,284,174
|
|
Other non-current
liabilities
|
|
|
406,846
|
|
|
|
|
407,373
|
|
Total
liabilities
|
|
|
3,047,990
|
|
|
|
|
2,531,874
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
159,171
|
|
|
|
|
282,675
|
|
Total liabilities and
shareholders' equity
|
|
|
$3,207,161
|
|
|
|
|
$2,814,549
|
|
METTLER-TOLEDO
INTERNATIONAL INC.
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(amounts in
thousands)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Cash flow from
operating activities:
|
|
|
|
|
|
|
|
Net earnings
|
$203,688
|
|
$161,767
|
|
$538,114
|
|
$386,444
|
Adjustments to reconcile net earnings to
|
|
|
|
|
|
|
|
net cash provided by
operating activities:
|
|
|
|
|
|
|
|
Depreciation
|
11,179
|
|
10,622
|
|
33,440
|
|
30,949
|
Amortization
|
16,039
|
|
14,121
|
|
46,141
|
|
42,008
|
Deferred tax expense
(benefit)
|
1,351
|
|
(2,420)
|
|
(6,072)
|
|
(6,990)
|
Other
|
4,737
|
|
4,430
|
|
13,893
|
|
13,248
|
Increase in cash
resulting from changes in
|
|
|
|
|
|
|
|
operating
assets and liabilities
|
26,313
|
|
36,559
|
|
42,203
|
|
8,171
|
Net cash provided by operating activities
|
263,307
|
|
225,079
|
|
667,719
|
|
473,830
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
Proceeds from sale of property, plant and equipment
|
151
|
|
1,021
|
|
3,399
|
|
3,046
|
Purchase of property, plant and equipment
|
(22,433)
|
|
(20,339)
|
|
(69,796)
|
|
(57,428)
|
Acquisitions
|
(7,853)
|
|
-
|
|
(193,387)
|
|
(6,242)
|
Net hedging settlements on intercompany loans
|
4,955
|
|
(140)
|
|
8,559
|
|
(9,421)
|
Net cash used in investing activities
|
(25,180)
|
|
(19,458)
|
|
(251,225)
|
|
(70,045)
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
Proceeds from borrowings
|
433,325
|
|
72,262
|
|
1,638,321
|
|
1,148,360
|
Repayments of borrowings
|
(383,024)
|
|
(63,066)
|
|
(1,249,177)
|
|
(1,231,191)
|
Proceeds from exercise of stock options
|
7,081
|
|
8,444
|
|
14,914
|
|
26,194
|
Repurchases of common stock
|
(252,499)
|
|
(199,999)
|
|
(727,498)
|
|
(399,999)
|
Other financing activities
|
(576)
|
|
-
|
|
(2,864)
|
|
(800)
|
Net cash used in financing activities
|
(195,693)
|
|
(182,359)
|
|
(326,304)
|
|
(457,436)
|
|
|
|
|
|
|
|
|
|
Effect of exchange
rate changes on cash and cash equivalents
|
(1,014)
|
|
3,147
|
|
(772)
|
|
(448)
|
|
|
|
|
|
|
|
|
|
Net increase
(decrease) in cash and cash equivalents
|
41,420
|
|
26,409
|
|
89,418
|
|
(54,099)
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents:
|
|
|
|
|
|
|
|
Beginning of period
|
142,252
|
|
127,277
|
|
94,254
|
|
207,785
|
End of period
|
$183,672
|
|
$153,686
|
|
$183,672
|
|
$153,686
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RECONCILIATION OF
NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED FREE CASH
FLOW
|
|
|
|
|
|
|
|
|
|
Net cash provided by
operating activities
|
$263,307
|
|
$225,079
|
|
$667,719
|
|
$473,830
|
Payments in respect of restructuring activities
|
1,874
|
|
1,634
|
|
7,422
|
|
6,261
|
Payments for acquisition costs
|
153
|
|
-
|
|
2,244
|
|
-
|
Transition tax payment
|
-
|
|
4,264
|
|
4,288
|
|
4,264
|
Proceeds from sale of property, plant and equipment
|
151
|
|
1,021
|
|
3,399
|
|
3,046
|
Purchase of property, plant and equipment
|
(22,433)
|
|
(20,339)
|
|
(69,796)
|
|
(57,428)
|
Adjusted free cash
flow
|
$243,052
|
|
$211,659
|
|
$615,276
|
|
$429,973
|
METTLER-TOLEDO
INTERNATIONAL INC.
|
|
OTHER OPERATING
STATISTICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SALES GROWTH BY
DESTINATION
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
|
Americas
|
|
Asia/RoW
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Dollar Sales
Growth
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, 2021
|
|
|
12%
|
|
20%
|
|
21%
|
|
18%
|
|
|
|
Nine Months Ended
September 30, 2021
|
|
|
22%
|
|
22%
|
|
31%
|
|
25%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Local Currency Sales
Growth
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, 2021
|
|
|
10%
|
|
20%
|
|
16%
|
|
16%
|
|
|
|
Nine Months Ended
September 30, 2021
|
|
|
15%
|
|
21%
|
|
23%
|
|
20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RECONCILIATION OF
DILUTED EPS AS REPORTED TO ADJUSTED DILUTED
EPS
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2021
|
|
2020
|
|
% Growth
|
|
2021
|
|
2020
|
|
% Growth
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EPS as reported,
diluted
|
$8.71
|
|
$6.68
|
|
30%
|
|
$22.86
|
|
$15.92
|
|
44%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchased intangible
amortization, net of tax
|
0.18
|
(a)
|
0.12
|
(a)
|
|
|
0.49
|
(a)
|
0.35
|
(a)
|
|
Restructuring
charges, net of tax
|
0.02
|
(b)
|
0.15
|
(b)
|
|
|
0.09
|
(b)
|
0.24
|
(b)
|
|
Income tax
expense
|
(0.19)
|
(c)
|
0.07
|
(c)
|
|
|
(0.17)
|
(c)
|
(0.21)
|
(c)
|
|
Acquisition costs,
net of tax
|
-
|
|
-
|
|
|
|
0.10
|
(d)
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EPS,
diluted
|
$8.72
|
|
$7.02
|
|
24%
|
|
$23.37
|
|
$16.30
|
|
43%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes:
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Represents the EPS
impact of purchased intangibles amortization of $5.5 million ($4.1
million net of tax) and $3.8 million ($2.8 million net of tax) for
the three months ended September 30, 2021 and 2020, and of $15.2
million ($11.5 million net of tax) and $11.2 million ($8.5 million
net of tax) for the nine months ended September 30, 2021 and 2020,
respectively.
|
(b)
|
Represents the EPS
impact of restructuring charges of $0.7 million ($0.5 million after
tax) and $4.6 million ($3.6 million after tax) for the three months
ended September 30, 2021 and 2020, and $2.7 million ($2.2 million
after tax) and $7.3 million ($5.8 million after tax) for the nine
months ended September 30, 2021 and 2020, respectively, which
primarily include employee related costs.
|
(c)
|
Represents the EPS
impact of the difference between our quarterly and estimated annual
tax rate before non-recurring discrete items during the three and
nine months ended September 30, 2021 and 2020 due to the timing of
excess tax benefits associated with stock option
exercises.
|
(d)
|
Represents the EPS
impact of acquisition costs of $2.8 million ($2.3 million after
tax) for the nine months ended September 30, 2021.
|
View original
content:https://www.prnewswire.com/news-releases/mettler-toledo-international-inc-reports-third-quarter-2021-results-301417086.html
SOURCE Mettler-Toledo International Inc.