Mettler Toledo International Inc【MTD】株式ニュース

Mettler-Toledo International Inc. Reports First Quarter 2026 ResultsMay 7, 2026 4:30 PM
Business Wire Mettler-Toledo International Inc. (NYSE: MTD) today announced first quarter results for 2026. Provided below are the highlights: Reported sales increased 7% compared with the prior year. In local currency, sales increased 3% compared with the prior year reflecting an increase of 1% excluding acquisitions. Net earnings per diluted share as reported (EPS) were $8.33, compared with $7.81 in the prior-year period. Adjusted EPS was $8.91, an increase of 9% over the prior-year amount of $8.19. 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 are pleased with our first quarter results as we delivered good performance in an increasingly uncertain market environment. Solid execution of our margin initiatives supported very good Adjusted EPS growth.” GAAP Results EPS in the quarter was $8.33, compared with the prior-year amount of $7.81. Compared with the prior year, total reported sales increased 7% to $947.1 million. By region, reported sales increased 3% in the Americas, 12% in Europe, and 8% in Asia/Rest of World. Earnings before taxes amounted to $209.7 million, compared with $201.9 million in the prior year. Non-GAAP Results Adjusted EPS was $8.91, an increase of 9% over the prior-year amount of $8.19. Compared with the prior year, total sales in local currency increased 3%. By region, local currency sales increased 2% in the Americas, 1% in Europe, and 5% in Asia/Rest of World. Excluding acquisitions, first quarter local currency sales increased 1%, including flat sales in the Americas and 3% growth in Asia/Rest of World. Adjusted Operating Profit amounted to $246.2 million, compared with the prior-year amount of $236.7 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 Management cautions that market conditions are uncertain and could change quickly. Based on today's assessment, management anticipates local currency sales for the second quarter of 2026 will increase approximately 3%. Adjusted EPS is forecast to be $10.70 to $10.85, a growth rate of 6% to 8%. For the full year 2026, management anticipates local currency sales will increase approximately 4%. Adjusted EPS is forecast to be in the range of $46.30 to $46.95, representing growth of approximately 8% to 10%. This compares with previous local currency sales growth guidance of approximately 4% and Adjusted EPS guidance of $46.05 to $46.70. The Company does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort the timing and amount of future restructuring and other non-recurring items. Conclusion Kaltenbach concluded, “Our investments in innovation continue to provide tangible benefits and also position us strongly to capitalize on our customers’ investments in automation, digitalization, and onshoring in the future. While we recognize increased uncertainty in the macroeconomic environment, we remain confident in our agility and the strong execution of our growth and margin expansion programs to achieve solid Adjusted EPS growth this year.” Other Matters The Company will host a conference call to discuss its quarterly results tomorrow morning (Friday, May 8) at 8:30 a.m. Eastern Time. To listen to a live webcast or replay of the call, visit the investor relations page on the Company’s website at investor.mt.com. The presentation referenced on 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. Forward-Looking Statements Disclaimer 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. 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 in this Quarterly Report about future events or our future financial performance, including sales and earnings growth, earnings per share, strategic plans and contingency plans, growth opportunities or economic downturns, our ability to respond to changes in market conditions, planned research and development efforts and product introductions, adequacy of facilities, access to and the costs of raw materials, shipping and supplier costs, gross margins, customer demand, our competitive position, pricing, capital expenditures, cash flow, share repurchases, tax-related matters, the impact of foreign currencies, compliance with laws, effects of acquisitions, the impact of inflation, ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, the conflict in Ukraine and continuing instability in the Middle East on our business. Our forward-looking statements may not be accurate or complete, speak only as of the date of this Quarterly Report, 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 ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, inflation, the conflict in Ukraine and continuing instability in the Middle East. See in particular “Risk Factors” 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, 2025 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 March 31, 2026 % of sales March 31, 2025 % of sales Net sales $947,127 (a) 100.0 $883,744 (a) 100.0 Cost of sales 391,311 41.3 357,865 40.5 Gross profit 555,816 58.7 525,879 59.5 Research and development 51,275 5.4 46,346 5.2 Selling, general and administrative 258,326 27.3 242,799 27.5 Amortization 19,612 2.1 17,193 2.0 Interest expense 17,007 1.8 16,653 1.9 Restructuring charges 7,270 0.8 3,767 0.4 Other charges (income), net (7,329) (0.8) (2,821) (0.3) Earnings before taxes 209,655 22.1 201,942 22.8 Provision for taxes 40,201 4.2 38,355 4.3 Net earnings $169,454 17.9 $163,587 18.5 Basic earnings per common share: Net earnings $8.35 $7.84 Weighted average number of common shares 20,286,133 20,868,873 Diluted earnings per common share: Net earnings $8.33 $7.81 Weighted average number of common and common equivalent shares 20,338,274 20,945,188 Note: (a) Local currency sales increased 3% as compared to the same period in 2025. RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT Three months ended Three months ended March 31, 2026 % of sales March 31, 2025 % of sales Earnings before taxes $209,655 $201,942 Amortization 19,612 17,193 Interest expense 17,007 16,653 Restructuring charges 7,270 3,767 Other charges (income), net (7,329) (2,821) Adjusted operating profit $246,215 (b) 26.0 $236,734 26.8 Note: (b) Adjusted operating profit increased 4% as compared to the same period in 2025. METTLER-TOLEDO INTERNATIONAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (amounts in thousands) (unaudited) March 31, 2026 December 31, 2025 Cash and cash equivalents $60,574 $66,888 Accounts receivable, net 708,206 778,243 Inventories 404,826 387,228 Other current assets and prepaid expenses 158,305 130,308 Total current assets 1,331,911 1,362,667 Property, plant and equipment, net 830,329 845,636 Goodwill and other intangibles assets, net 1,010,637 1,018,135 Other non-current assets 496,038 486,208 Total assets $3,668,915 $3,712,646 Short-term borrowings and maturities of long-term debt $67,042 $63,931 Trade accounts payable 228,719 266,628 Accrued and other current liabilities 812,600 867,557 Total current liabilities 1,108,361 1,198,116 Long-term debt 2,161,596 2,088,241 Other non-current liabilities 440,841 449,925 Total liabilities 3,710,798 3,736,282 Shareholders’ equity (41,883) (23,636) Total liabilities and shareholders’ equity $3,668,915 $3,712,646 METTLER-TOLEDO INTERNATIONAL INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in thousands) (unaudited) Three months ended March 31, 2026 2025 Cash flow from operating activities: Net earnings $169,454 $163,587 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation 13,160 12,464 Amortization 19,612 17,193 Deferred tax provision (benefit) (1,994) (879) Share-based compensation 5,469 5,139 Proceeds from government grant (a) 6,240 - Decrease in cash resulting from changes in operating assets and liabilities (72,147) (3,055) Net cash provided by operating activities 139,794 194,449 Cash flows from investing activities: Purchase of property, plant and equipment (17,414) (17,255) Acquisitions (2,242) - Other investing activities (11,692) 10,348 Net cash used in investing activities (31,348) (6,907) Cash flows from financing activities: Proceeds from borrowings 513,590 512,496 Repayments of borrowings (420,104) (479,326) Proceeds from exercise of stock options 620 2,198 Repurchases of common stock (206,250) (218,749) Acquisition contingent consideration paid (2,190) - Other financing activities - (764) Net cash used in financing activities (114,334) (184,145) Effect of exchange rate changes on cash and cash equivalents (426) 1,532 Net increase in cash and cash equivalents (6,314) 4,929 Cash and cash equivalents: Beginning of period 66,888 59,362 End of period $60,574 $64,291 RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW Three months ended March 31, 2026 2025 Net cash provided by operating activities $139,794 $194,449 Payments in respect of restructuring activities 3,436 2,566 Payments for acquisition transaction costs 137 - Proceeds from government grant (a) (6,240) - Purchase of property, plant and equipment, net (17,414) (17,255) Adjusted free cash flow $119,713 $179,760 (a) In December 2025, the Company entered into an agreement with the government of Xuhui, China to increase production automation and capacity and improve logistics. The Company will receive proceeds of approximately $31 million, of which approximately $18 million is expected to offset future purchases of property, plant and equipment and approximately $13 million is expected to offset future operating expenses. For the three months ended March 31, 2026, funding proceeds of $6.2 million that will offset future operating expenses is excluded from Adjusted free cash flow. METTLER-TOLEDO INTERNATIONAL INC. OTHER OPERATING STATISTICS SALES GROWTH BY DESTINATION (unaudited) Americas Europe Asia/RoW Total U.S. Dollar Sales Growth Three Months Ended March 31, 2026 3% 12% 8% 7% Local Currency Sales Growth Three Months Ended March 31, 2026 2% 1% 5% 3% Note: (a) Net sales in local currency excluding acquisitions grew 1%, including flat sales in the Americas and 3% sales growth in Asia/Rest of World, for the three months ended March 31, 2026. RECONCILIATION OF DILUTED EPS AS REPORTED TO ADJUSTED DILUTED EPS (unaudited) Three months ended March 31, 2026 2025 % Growth EPS as reported, diluted $8.33 $7.81 7% Purchased intangible amortization, net of tax 0.27 (a) 0.23 (a) Restructuring charges, net of tax 0.29 (b) 0.15 (b) Income tax expense 0.02 (c) - Adjusted EPS, diluted $8.91 $8.19 9% Notes: (a) Represents the EPS impact of purchased intangibles amortization of $7.1 million ($5.4 million after tax) and $6.3 million ($4.9 million after tax) for the three months ended March 31, 2026 and 2025, respectively. (b) Represents the EPS impact of restructuring charges of $7.3 million ($5.9 million after tax) and $3.8 million ($3.1 million after tax) for the three months ended March 31, 2026 and 2025, 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 months ended March 31, 2026 due to the timing of excess tax benefits associated with stock option exercises. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507744027/en/ Adam Uhlman
Head of Investor Relations
METTLER TOLEDO
Direct: 614-438-4794
adam.uhlman@mt.com Original: Mettler-Toledo International Inc. Reports First Quarter 2026 Results

Mettler-Toledo International Inc. Reports Fourth Quarter 2025 ResultsFebruary 5, 2026 4:30 PM
Business Wire
Mettler-Toledo International Inc. (NYSE: MTD) today announced fourth quarter results for 2025. Provided below are the highlights:

Reported sales increased 8% compared with the prior year. In local currency, sales increased 5% compared with the prior year and included a 1% benefit from acquisitions.

Net earnings per diluted share as reported (EPS) were $13.98, compared with $11.96 in the prior-year period. Adjusted EPS was $13.36, an increase of 8% over the prior-year amount of $12.41. Adjusted EPS is a non-GAAP measure, and a reconciliation to EPS is included on the last page of the attached schedules.

Fourth Quarter Results

Patrick Kaltenbach, President and Chief Executive Officer, stated, “We had a great finish to the year with broad based growth by geography and product category. Our team continues to execute very well in a challenging environment and delivered strong Adjusted EPS growth for the quarter with excellent free cash flow conversion for the year.”

GAAP Results

EPS in the quarter was $13.98, compared with the prior-year amount of $11.96, and included a non-cash discrete tax benefit of $0.95 per share.

Compared with the prior year, total reported sales increased 8% to $1.130 billion. By region, reported sales increased 7% in the Americas, 12% in Europe, and 5% in Asia/Rest of World. Earnings before taxes amounted to $329.1 million, compared with $314.5 million in the prior year.

Non-GAAP Results

Adjusted EPS was $13.36, an increase of 8% over the prior-year amount of $12.41.

Compared with the prior year, total sales in local currency increased 5%. By region, local currency sales increased 7% in the Americas, 4% in Europe, and 4% in Asia/Rest of World. Excluding acquisitions, fourth quarter local currency sales increased 4%, including 4% growth in the Americas. Adjusted Operating Profit amounted to $363.0 million, compared with the prior-year amount of $351.9 million.

Adjusted EPS and Adjusted Operating Profit are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.

Full Year Results

GAAP Results

EPS was $42.05, compared with the prior-year amount of $40.48. Results in 2025 included a non-cash discrete tax benefit of $0.95 per share, while results in 2024 included a non-cash discrete tax benefit of $1.07 per share.

Compared with the prior year, total reported sales increased 4% to $4.026 billion. By region, reported sales increased 5% in the Americas, 6% in Europe, and 2% in Asia/Rest of World. Earnings before taxes amounted to $1.049 billion, compared with $1.037 billion in the prior year.

Non-GAAP Results

Adjusted EPS was $42.73, an increase of 4% over the prior-year amount of $41.11.

Total sales in local currency increased 3% compared with the prior year. By region, local currency sales increased 5% in the Americas, 1% in Europe, and 2% in Asia/Rest of World. Excluding acquisitions and the impact from delayed fourth quarter 2023 shipments that benefited first quarter 2024 sales, full year 2025 local currency sales increased 4%, including 4% growth in the Americas, 3% growth in Europe, and 3% growth in Asia/Rest of World. Adjusted Operating Profit amounted to $1.193 billion, compared with the prior-year amount of $1.200 billion.

Adjusted EPS and Adjusted Operating Profit are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.

Outlook

Management cautions that market conditions are uncertain and could change quickly. Based on today's assessment, management anticipates local currency sales for the first quarter of 2026 will increase approximately 3%. Adjusted EPS is forecast to be $8.60 to $8.75, a growth rate of 5% to 7%.

For the full year 2026, management anticipates local currency sales will increase approximately 4%. Adjusted EPS is forecast to be in the range of $46.05 to $46.70, representing growth of approximately 8% to 9%. This compares with previous local currency sales growth guidance of approximately 4% and Adjusted EPS guidance of $45.35 to $46.00.

The Company does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort the timing and amount of future restructuring and other non-recurring items.

Conclusion

Kaltenbach concluded, “I am very proud of our organization’s resilience and agility over the past year as we successfully navigated challenges posed by global trade disputes and soft market conditions, and we remain agile in this dynamic environment. Looking ahead, we are very well positioned to drive growth with our Spinnaker sales and marketing program and innovative product portfolio while capitalizing on opportunities related to automation, digitalization, and onshoring investments around the world. Our strategic initiatives and strong culture of innovation and operational excellence are deeply embedded in the organization and will help us continue to gain share and deliver strong financial performance.”

Other Matters

The Company will host a conference call to discuss its quarterly results tomorrow morning (Friday, February 6) at 8:30 a.m. Eastern Time. To listen to a live webcast or replay of the call, visit the investor relations page on the Company’s website at investor.mt.com. The presentation referenced on 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.

Forward-Looking Statements Disclaimer

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. 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 in this Quarterly Report about future events or our future financial performance, including sales and earnings growth, earnings per share, strategic plans and contingency plans, growth opportunities or economic downturns, our ability to respond to changes in market conditions, planned research and development efforts and product introductions, adequacy of facilities, access to and the costs of raw materials, shipping and supplier costs, gross margins, customer demand, our competitive position, pricing, capital expenditures, cash flow, share repurchases, tax-related matters, the impact of foreign currencies, compliance with laws, effects of acquisitions, the impact of inflation, ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, the conflict in Ukraine and continuing instability in the Middle East on our business.

Our forward-looking statements may not be accurate or complete, speak only as of the date of this Quarterly Report, 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 ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, inflation, the conflict in Ukraine and continuing instability in the Middle East. See in particular “Risk Factors” 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, 2024 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

December 31, 2025

% of sales

December 31, 2024

% of sales

Net sales

$1,129,735

(a)

100.0

$1,045,127

100.0

Cost of sales

454,300

40.2

405,812

38.8

Gross profit

675,435

59.8

639,315

61.2

Research and development

52,599

4.7

50,054

4.8

Selling, general and administrative

259,826

23.0

237,340

22.7

Amortization

19,673

1.8

18,220

1.8

Interest expense

17,388

1.5

17,850

1.7

Restructuring charges

4,572

0.4

2,147

0.2

Other charges (income), net

(7,697)

(0.7)

(843)

(0.1)

Earnings before taxes

329,074

29.1

314,547

30.1

Provision for taxes

43,309

3.8

62,246

6.0

Net earnings

$285,765

25.3

$252,301

24.1

Basic earnings per common share:

Net earnings

$14.02

$12.00

Weighted average number of common shares

20,380,453

21,024,024

Diluted earnings per common share:

Net earnings

$13.98

$11.96

Weighted average number of common

20,444,484

21,101,360

and common equivalent shares

Note:

(a) Local currency sales increased 5% as compared to the same period in 2024.

RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT

Three months ended

Three months ended

December 31, 2025

% of sales

December 31, 2024

% of sales

Earnings before taxes

$329,074

$314,547

Amortization

19,673

18,220

Interest expense

17,388

17,850

Restructuring charges

4,572

2,147

Other charges (income), net

(7,697)

(843)

Adjusted operating profit

$363,010

(b)

32.1

$351,921

33.7

Note:

(b) Adjusted operating profit increased 3% as compared to the same period in 2024.

METTLER-TOLEDO INTERNATIONAL INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(amounts in thousands except share data)

(unaudited)

Twelve months ended

Twelve months ended

December 31, 2025

% of sales

December 31, 2024

% of sales

Net sales

$4,026,399

(a)

100.0

$3,872,361

100.0

Cost of sales

1,635,753

40.6

1,546,778

39.9

Gross profit

2,390,646

59.4

2,325,583

60.1

Research and development

199,373

5.0

189,357

4.9

Selling, general and administrative

998,314

24.8

936,303

24.2

Amortization

74,469

1.8

72,869

1.9

Interest expense

68,515

1.7

74,631

1.9

Restructuring charges

17,868

0.4

19,771

0.5

Other charges (income), net

(16,802)

(0.4)

(4,571)

(0.1)

Earnings before taxes

1,048,909

26.1

1,037,223

26.8

Provision for taxes

179,716

4.5

174,083

4.5

Net earnings

$869,193

21.6

$863,140

22.3

Basic earnings per common share:

Net earnings

$42.17

$40.67

Weighted average number of common shares

20,610,189

21,221,839

Diluted earnings per common share:

Net earnings

$42.05

$40.48

Weighted average number of common

20,671,708

21,320,641

and common equivalent shares

Note:

(a) Local currency sales increased 3% as compared to the same period in 2024.

RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT

Twelve months ended

Twelve months ended

December 31, 2025

% of sales

December 31, 2024

% of sales

Earnings before taxes

$1,048,909

$1,037,223

Amortization

74,469

72,869

Interest expense

68,515

74,631

Restructuring charges

17,868

19,771

Other charges (income), net

(16,802)

(4,571)

Adjusted operating profit

$1,192,959

(b)

29.6

$1,199,923

31.0

Note:

(b) Adjusted operating profit decreased 1% as compared to the same period in 2024.

METTLER-TOLEDO INTERNATIONAL INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(amounts in thousands)

(unaudited)

December 31, 2025

December 31, 2024

Cash and cash equivalents

$66,888

$59,362

Accounts receivable, net

778,243

687,112

Inventories

387,228

342,274

Other current assets and prepaid expenses

130,308

105,158

Total current assets

1,362,667

1,193,906

Property, plant and equipment, net

845,636

770,280

Goodwill and other intangibles assets, net

1,018,135

926,057

Other non-current assets

486,208

349,756

Total assets

$3,712,646

$3,239,999

Short-term borrowings and maturities of long-term debt

$63,931

$182,623

Trade accounts payable

266,628

215,843

Accrued and other current liabilities

867,557

769,727

Total current liabilities

1,198,116

1,168,193

Long-term debt

2,088,241

1,831,265

Other non-current liabilities

449,925

367,431

Total liabilities

3,736,282

3,366,889

Shareholders’ equity

(23,636)

(126,890)

Total liabilities and shareholders’ equity

$3,712,646

$3,239,999

METTLER-TOLEDO INTERNATIONAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(amounts in thousands)

(unaudited)

Three months ended

Twelve months ended

December 31,

December 31,

2025

2024

2025

2024

Cash flow from operating activities:

Net earnings

$285,765

$252,301

$869,193

$863,140

Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation

13,092

12,643

51,141

50,352

Amortization

19,673

18,220

74,469

72,869

Deferred tax provision (benefit)

22,598

(155)

17,471

(5,216)

Share-based compensation

6,485

6,357

22,512

19,979

Non-cash discrete current tax benefit

(13,685)

-

(13,685)

(22,982)

Increase (decrease) in cash resulting from changes in operating assets and liabilities

(108,343)

(23,179)

(65,329)

(9,796)

Net cash provided by operating activities

225,585

266,187

955,772

968,346

Cash flows from investing activities:

Proceeds from sale of property, plant and equipment

-

898

-

1,631

Purchase of property, plant and equipment

(41,504)

(41,276)

(107,124)

(103,898)

Proceeds from government funding

6,170

-

6,170

-

Acquisitions

(18,411)

(7,618)

(93,839)

(10,091)

Other investing activities

13,340

(3,056)

919

(7,104)

Net cash used in investing activities

(40,405)

(51,052)

(193,874)

(119,462)

Cash flows from financing activities:

Proceeds from borrowings

438,015

594,916

1,996,222

2,156,565

Repayments of borrowings

(499,825)

(598,429)

(1,974,762)

(2,175,291)

Proceeds from exercise of stock options

21,414

1,380

32,273

23,719

Repurchases of common stock

(143,749)

(212,500)

(799,995)

(849,997)

Payments of excise tax on repurchases of common stock

(7,750)

(8,089)

(7,750)

(8,089)

Other financing activities

(241)

(971)

(1,161)

(2,884)

Net cash used in financing activities

(192,136)

(223,693)

(755,173)

(855,977)

Effect of exchange rate changes on cash and cash equivalents

4,779

(3,654)

801

(3,352)

Net increase (decrease) in cash and cash equivalents

(2,177)

(12,212)

7,526

(10,445)

Cash and cash equivalents:

Beginning of period

69,065

71,574

59,362

69,807

End of period

$66,888

$59,362

$66,888

$59,362

RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW

Three months ended

Twelve months ended

December 31,

December 31,

2025

2024

2025

2024

Net cash provided by operating activities

$225,585

$266,187

$955,772

$968,346

Payments in respect of restructuring activities

3,988

3,986

14,582

23,752

Payments for acquisition transaction costs

-

-

901

-

Transition tax payment

-

-

13,404

10,723

Proceeds from sale of property, plant and equipment

-

898

-

1,631

Purchase of property, plant and equipment, net

(41,504)

(41,276)

(107,124)

(103,898)

Adjusted free cash flow

$188,069

$229,795

$877,535

$900,554

METTLER-TOLEDO INTERNATIONAL INC.

OTHER OPERATING STATISTICS

SALES GROWTH BY DESTINATION

(unaudited)

Americas

Europe

Asia/RoW

Total

U.S. Dollar Sales Growth

Three Months Ended December 31, 2025

7%

12%

5%

8%

Twelve Months Ended December 31, 2025

5%

6%

2%

4%

Local Currency Sales Growth

Three Months Ended December 31, 2025

7%

4%

4%

5%

Twelve Months Ended December 31, 2025

5%

1%

2%

3%

Note:

(a)

Net sales growth in local currency excluding acquisitions was 4%, including growth of 4% in the Americas, for the three months ended December 31, 2025.

(b)

The Company estimates net sales growth in local currency was 4% excluding acquisitions and the impact from delayed fourth quarter 2023 shipments that benefited first quarter 2024 sales, and by geographic destination increased by 4% in the Americas, 3% in Europe and 3% in Asia/Rest of World for the twelve months ended December 31, 2025.

RECONCILIATION OF DILUTED EPS AS REPORTED TO ADJUSTED DILUTED EPS

(unaudited)

Three months ended

Twelve months ended

December 31,

December 31,

2025

2024

% Growth

2025

2024

% Growth

EPS as reported, diluted

$13.98

$11.96

17%

$42.05

$40.48

4%

Purchased intangible amortization, net of tax

0.28

(a)

0.24

(a)

1.02

(a)

0.94

(a)

Restructuring and other, net of tax

0.18

(b)

0.09

(b)

0.70

(b)

0.76

(b)

Acquisition costs, net of tax

(0.14)

(c)

(0.09)

(c)

Income tax expense

(0.94)

(d)

0.12

(d)

(0.95)

(d)

(1.07)

(d)

Adjusted EPS, diluted

$13.36

$12.41

8%

$42.73

$41.11

4%

Notes:

(a)

Represents the EPS impact of purchased intangibles amortization of $7.5 million ($5.7 million net of tax) and $6.4 million ($5.0 million net of tax) for the three months ended December 31, 2025 and 2024, respectively, and of $27.3 million ($21.1 million net of tax) and $25.9 million ($20.1 million net of tax) for the twelve months ended December 31, 2025 and 2024, respectively.

(b)

Represents the EPS impact of restructuring charges of $4.6 million ($3.7 million after tax) and $2.1 million ($1.7 million after tax) for the three months ended December 31, 2025 and 2024, respectively, and of $17.9 million ($14.5 million after tax) and $19.8 million ($16.0 million after tax) for the twelve months ended December 31, 2025 and 2024, respectively, which primarily include employee related costs; and other costs of $0.3 million ($0.3 million after tax) for the three and twelve months ended December 31, 2024.

(c)

Represents the EPS impact of a net benefit of $4.4 million ($3.6 million net of tax) related to contingent consideration associated with previous acquisitions less acquisition transaction costs of $0.9 million ($0.7 million net of tax) and $2.2 million ($1.7 million net of tax) for the three and twelve months ended December 31, 2025, respectively.

(d)

Represents the EPS impact of the difference between our quarterly and estimated annual tax rate before non-recurring discrete items during the three months ended December 31, 2025 and 2024 due to the timing of excess tax benefits associated with stock option exercises. Also includes a reported EPS reduction of $0.95 for the three and twelve months ended December 31, 2025 and $1.07 for the twelve months ended December 31, 2024, respectively, for non-cash discrete tax benefits resulting from the reduction of uncertain tax position liabilities and valuation allowance related to the settlement of tax audits.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260205775735/en/
Adam Uhlman

Head of Investor Relations

METTLER TOLEDO

Direct: 614-438-4794

adam.uhlman@mt.com

Original: Mettler-Toledo International Inc. Reports Fourth Quarter 2025 Results